Last week a five-acre parcel was conveyed to Clark County to create affordable apartments for seniors on fixed incomes. Stated by the County, “The project represents one of the first efforts,” in the “Welcome Home” initiative. Back on April 5th, 2022, Welcome Home was initiated to help those who are unable to find affordable housing. The housing fund was granted $120 million by the County Commission to help fund multiple developments across Las Vegas, to create affordable housing options. According to the County, $10 million in Welcome Home Community Housing Fund dollars and $1.8 million in County HOME funds will go towards the complex. This project will consist of a 195 unit complex or one and two-bedroom apartments. Amenities will include a swimming pool, a jacuzzi, meeting facilities, a wellness center, accessible showers, and a hair salon. Construction is set to begin this year at the northwest corner of Pebble Road and Eastern Avenue and plans to open in 2025.

Click here to read more:

https://www.clarkcountynv.gov/news_detail_T28_R883.php

Many new and existing businesses are expanding their operations in Pahrump. According to Nye County planning Director Brett Waggoner, there are 30 commercial projects that are in the site development process and/or under construction. Multiple businesses are coming to and expanding in Pahrump. For instance, the long-awaited Arby’s opened on Tuesday, March 28 at 680 S. Highway 160. Other projects that are in construction are Midas Muffler, Chipotle, and an expansion to Spring Mountain Motorsports. In addition, there are 3 convenience stores close to opening. New warehouses are being constructed to house fireworks sold by the various retailers in the valley as well as a new storage yard. Another project we will see is a professional office space near Highway 160 and Winery Road, a new Pahrump Community Health Center on Lola Lane, and more.

Click here to read more:

https://pvtimes.com/news/30-new-projects-in-pahrump-arbys-chipotle-midas-muffler-3-convenient-stores-more-120292/

DR Horton has been providing homes since 1978 and operates in 45 of the 50 states. Just recently, DR Horton celebrated the grand opening of two of their newest communities. Heartland Bay in North Las Vegas and Diamond Ranch in Southwest Vegas. Heartland Bay offers two-story single-family homes with up to four bedrooms and a 2-car garage. Properties on Diamond Ranch are two-story townhomes with 3 bedrooms and 1 to 2 car garages. You can find Heartland Bay located at 1825 Jennifer Brook Place and Diamond Ranch Trails at 9114 Hitmaker St. Congratulations to D.R. Horton on their new success!

Click here to read more:

https://www.drhorton.com/nevada/las-vegas

Four years after an office building fire in 2019, a Las Vegas Developer, The Calida Group has plans to build a five-story, 400-unit apartment complex. In front of the site is a retail center of about 60,000 square feet that the developer has also been touching up. A newly built, almost completed parking garage is also included on the site but will be later covered up by the apartment complex. According to Eric Cohen, co-founder of The Calida Group, the apartments will be costly and range around 650 to 1,700 square feet. Construction is scheduled to start in four to six months, on Paradise Road between Flamingo Road and Twain Avenue.

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https://www.reviewjournal.com/business/housing/apartment-complex-to-bring-new-life-to-site-where-offices-burned-down-2748198/

This week the Las Vegas Convention and Visitors Authority unanimously approved the sale of a 10-acre plot of land at Las Vegas Boulevard and Elvis Presley Boulevard for $125 million. The buyers, developers Brett Torino and Paul Kanavos, have been partnering up to develop projects on the strip for over a decade. Past ventures include a three-story retail complex and a four-story retail project located at Las Vegas Boulevard and Harmon Avenue. Torino and Kanavos have not commented on what the plans for the 10-acre parcel just south of Fontainebleau are but are considering a retail and entertainment complex and a nongaming hotel. Torino stated that this site is prime real estate for numerous projects and there has been significant interest from other parties to discuss development plans. The sale must be completed by September 11 of this year and according to the agreement, construction must begin within ten years.

Click here to read more: https://www.reviewjournal.com/business/tourism/lvcvas-10-acre-strip-parcel-sold-for-125m-2743912/amp/

Nicole Bloom, president of Southern Nevada Home Builders is ready to tackle challenges that may come in 2023. Rising cost in the lumber market and high interest rates are some of the issues that appear to be no small feat to overcome. According to Bloom, she plans to work with policymakers to keep regulatory costs and land-impacts to a minimum. To ease concerns of those that are reminded of the 2008 recession Nicole reassures her readers that current lending guidelines do not allow for the similar outcome of the 2008 recession.

Nicole Bloom is also a great inspiration and role model for professional women and is an advocate for women in leadership. There are talks about opening up the Southern Nevada Trades High School, which is a project that will provide educational opportunities for young individuals that want to pursue a career in homebuilding and other trades. She stated that she is passionate about showing young women the great opportunities that exist in this industry. One of her priorities is the Professional Women in Building Council. The Council focuses on advancing women in the homebuilding industry through scholarships, mentorships, and networking opportunities. The Council has recently formed a nonprofit corporation to fund the scholarships and to help women on a whole other scale.

Click here to read more: https://businesspress.vegas/columns/experts-corner/homebuilding-industry-will-rally-strength-for-nevadas-future-challenges-35390/

LM Construction begins on their latest industrial project in North Las Vegas. The plans consists of one free standing building, dock loading doors, ESFR fire suppression system, 81 parking stalls, and M-D zoning. The site, Cartier Industrial LLC, will have ±74,833 SF of industrial space, sit on 4.28 acres, and is located on the northwest corner of North Lamb Boulevard and East Cartier Avenue in North Las Vegas.

Click here to read more: https://nevadabusiness.com/2023/02/lm-construction-breaks-ground-on-latest-project-in-north-las-vegas-nv/

The Boring Company Loop is an all-electric, underground public transportation system in which people can travel to their destination with no intermediate stops. As of February 2023 the company has plans for a Vegas Loop station near the UNLV campus, providing more transportation option for students. According to the article, UNLV will receive the fair market value for the cost of the 56,628 square feet (1.3 acres) of space within the parking area of the Thomas & Mack. The plan for the project features Tesla model vehicles that transport riders through 69 stations along Las Vegas Boulevard, including Downtown Las Vegas and Allegiant Stadium. In the future the loop is projected to transport 57,000 people per hour for a fee between $6 and $12.

Click here to read more: https://www.reviewjournal.com/local/traffic/unlv-set-to-sell-land-to-boring-co-for-vegas-loop-station-2733770/

Rio landlord Eric Birnbaum reveals plans to renovate the Rio in light of a possible Oakland A’s baseball stadium next door. According to the article, Birnbaum’s firm, Dreamscape Companies, announced that it raised $850 million in capital that will be used to launch a real estate investment trust that will own casino, hospitality, and entertainment assets, and fund a multi-phase renovation of the Rio. Major League Baseball’s Oakland Athletics is looking for possible properties in Las Vegas, including excess land at the Rio. The hotel is located on Flamingo Road about a mile west of the Strip and sits on 88.5 acres.

Click here to read more: https://www.reviewjournal.com/business/casinos-gaming/rio-landlord-plans-multi-phase-renovation-open-to-mlb-ballpark-2732380/