The Movement is a ground up 31 unit multifamily project located in the heart of The Downtown Water Street District in Henderson, Nevada on .69 acres directly behind City Hall. The project consists of 10, one bedroom/one bathroom units in sizes ranging from 698sf to 757 each, 15 two bedroom/one bathroom units ranging in size from 901sf to 1,050sf, and 6 two bedroom/two bathroom units consisting of 899sf, resulting in an average unit size of 864sf. Please feel free to view the architectural plans at my website: jarussoent.com . The gross square footage, inclusive of apartment units, storage units and other common areas, will be 39,564sf. The unit interiors will include modern contemporary floor plans, with fully equipped kitchen and washers and dryers in all units. The project is in an "Opportunity Zone" which could possibly afford some fantastic benefits to investors.
The project initially broke ground in 2019 and was halted waiting for the City to complete some of the site improvements along with a legal discrepancy with the City. Moving past those issues, we then ran into the shortages and delays caused by COVID, which affected our construction and time schedule. We are seeking an investment of $3M in equity and will borrow the balance from a construction lender to complete the project. Please see the attached description of the existing improvements that have been made to the project.
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