Western Alliance Bank (NYSE: WAL) has provided $33 million in construction financing for Marble Manor Phase I, a 138-unit mixed-income housing development located northwest of downtown Las Vegas, Nevada, according to a press release from the bank.

The financing package includes $31 million in tax-exempt bonds and $2 million in taxable bonds, along with $19.46 million in tax-exempt permanent bonds. R4 Capital Funding is serving as Western Alliance's originations partner and will act as construction and permanent asset manager and loan servicer for the transaction.

Once complete, the development will consist of 138 family rental homes across five residential buildings, with one- to five-bedroom units. Thirty units will be offered at market rate, while 108 units will be reserved for families earning between 30% and 60% of the Area Median Income. The project will also include 3,000 square feet of ground-floor retail space and on-site supportive services provided by the Southern Nevada Regional Housing Authority (SNRHA).

Marble Manor is being co-developed by Brinshore Development and SNRHA, with construction by Metcalf Builders. Enterprise Community Partners will serve as tax credit equity syndicator, contributing $21.7 million in tax credit equity. The project also received a $53 million Choice Neighborhoods Grant from the U.S. Department of Housing and Urban Development. Marble Manor Phase I broke ground in April 2026.