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RENO, Nev. (March 31, 2025) — Jacobs Entertainment continues to deliver on its promise to create a thriving, mixed-use community in downtown Reno by exceeding its commitment to affordable workforce housing. As part of the ongoing redevelopment of J Resort’s Reno Neon Line, the company continues to deliver significant high-quality, attainable housing for local residents, including seniors and workforce tenants.

With the opening of the Gibson Building, the company will now expand beyond its promise that 10% of its entire residential portfolio on J Resort’s Reno Neon Line will be dedicated to affordable units. The current phase of Jacobs Entertainment’s Reno Neon Line residential development effort includes the Renova Flats 47 units, the Gibson Building’s 18 units, the newly opened 245 North Arlington Building with 60 units, and the upcoming Bonanza Inn, consisting of 59 units.

“While the new 245 North Arlington apartments will be operated as a market rate apartment building, we have decided to operate all three of the other buildings as 100% affordable housing properties for seniors and workforce,” said Jeff Jacobs, CEO of Jacobs Entertainment. “Our initial goal was to end up with 10% of each building consisting of affordable workforce housing units, or roughly 20 of 184 units. We have now decided to operate all of these buildings other than 245 North Arlington as 100% affordable properties.”

“This results in 124 units, or 67% of our 184 units being made available for affordable housing”, added Jacobs. “We continue to voluntarily set rents for these units at the Federal guidelines of 80% of Area Median Income (AMI) standards.” Under the Federal guidelines of 80% AMI affordable rents do not exceed $1,181 per month for an efficiency unit and $1,380 per month for a one-bedroom unit.

In addition to creating the 184 new and refurbished housing units along J Resort’s Reno Neon Line, Jacobs Entertainment currently continues predevelopment work on 64 senior housing units to be developed on behalf of the Reno Housing Authority.

“We are creating a nice mixture of affordable senior and affordable workforce housing units along J Resort’s Reno Neon Line,” said Kelli Wilson, regional residential property manager for Jacobs Entertainment. “Renovations are being completed and leasing is underway at the historic Gibson Building at West Second Street and Ralston Street; the newly restored 18-unit building features new flooring, counters, windows, and in-unit amenities. All units are affordable and all utilities are included in rent.”

“Successful development and revitalization require careful planning and long-term commitment,” added Jacobs. “We’ve replaced blighted, substandard motel units not fit for human habitation with new, high-quality units and we’re on track to exceed our commitment to deliver many affordable units downtown”.

MEDIA CONTACT:
Owen Truesdell
owen@theabbiagency.com
(775) 446-4599