The Tom Hom Group Debuts SRO+ Housing Concept
Multifamily Executive
May, 2000

Las Vegas- A new prototype o f single room occupancy (SRO) debuted in Las Vegas in March with the opening of a 320-unit prototype project. The Tom Hom Group's (THG) SRO+ eventually will expand to cities throughout the nation.

Located three blocks from City Hall downtown Las Vegas, Campaige Place is an SRO project designed for hourly wage earners who work in nearby hotels, restaurants and retail stores. "We're changing the way people think about SROs," says Will Newbern, president of THG. "Growing cities face a critical need for worker housing. That's what we build. Safe, affordable, convenient places for people to live within walking distance to work."

With move-in costs of $250 and monthly rents starting at $495, tenants at Campaige Place live in furnished efficiencies with kitchen, full bath, phone, cable TV, housekeeping service and weekly linen change. All utilities are included in the rent. In addition to a workout room, on-site laundry and a 24-hour front desk, residents can access "Computer Pal," a special Internet guide to local job training, transportation, healthcare and public services.

The $12 million project was financed with a combination of tax credits and private activity bonds issued by the State of Nevada, with credit enhancement provided by US Bank. Related Capital Co. is the tax credit limited partner in the project.