RENO, Nev. (News 4 & Fox 11) — With limited affordable housing options in Reno – especially for motel occupants and low-income residents – one developer is taking matters into their own hands.
Kramer Properties, a multi-family investment and development company, is offering a new housing alternative that could change living standards for dozens of people.
On Thursday, Kramer Properties unveiled their newest complex: Kramer’s House Downtown.
It depends on several different factors on how you qualify,” reasoned Joseph Kramer, CEO of Kramer Properties. “I think anybody that’s in that threshold of probably $35,000 to $40,000 and above would probably be able to fit into one of our complexes.
The shared house offers 18 individual units, with an average rent of $875 dollars.
The rent includes utilities and high-speed internet, and each person has access to a shared kitchen, living area, and laundry facility.
Brand new TVs, flooring, it’s all brand new construction,” explained Kramer. “I think that’s a nice advantage to have then say a motel that’s maybe 20 -30 years old.
Although each Kramer property is shared housing, each tenant is responsible for their own room and their own rent.
When it comes to safety and privacy, Kramer Properties say they have that covered too.
We make sure there’s separate space for everybody’s got their own lock and pantry and refrigerator space,” explained Chris Foti, Vice President of Kramer Properties. “We have house rules and also a house manager that checks on things and make sure that nobody needs anything.
Kramer’s House Downtown is one of more than a dozen Kramer properties around Reno.
The CEO of the company, Joe Kramer, says the inventory for affordable housing has been an issue for too long.
Because a motel is the only affordable option for many Nevadans, Kramer says he wanted to provide his own solution to the problem.
Really what makes this affordable is I have 10 people living in this house. The expense is one kitchen, one common area, and four bathrooms, versus nine kitchens and nine bathrooms. It keeps the affordability of the building down, so I’m able to reduce the rents.
Kramer says housing projects like Kramer’s House Downtown are the first steps in addressing Reno’s housing crisis and giving low-income residents safer alternatives to motels.