As demand for rental properties in Las Vegas continues to grow, more and more people keep asking where the new apartment inventory is going to come from?
Thankfully, more new apartments are on the way to Las Vegas and not a moment too soon considering that Las Vegas continues to be a hotspot for rental property demand nationwide.
More Apartments Are Coming To Las Vegas
Southern California real estate firms Lyon Living and LandSpire Group recently broke ground on The Highline, a 294-unit rental complex at The Gramercy, on Russell Road just west of the 215 Beltway in the southwest Las Vegas Valley.
They expect to open the project in winter 2023, and its amenities are slated to include a rooftop lounge area, co-working space and a beer garden, according to a news release, which noted future plans include 71 for-sale townhomes and 25,000 square feet of retail.
All told, the new round of construction marks the latest chapter of a suburban real estate venture that already features apartments, offices and retail space, and boasts a very Vegas history.
A product of the mid-2000s bubble era, the complex was left abandoned and unfinished behind barbed wire-topped fencing after the market crashed. It then sold for cents on the dollar to investors who imploded one of its buildings, finished the others and sold the place in pieces for more than $100 million combined.
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