Developers of the Cello Tower in downtown Las Vegas have unveiled renderings of the units.
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Two new apartment projects could bring more than 300 apartments, retail and restaurant space.
Groundbreaking will take place soon for the downtown Las Vegas project, which will include ground-level restaurant and retail space.
Before the property sold in January for $6 million, the 2.3 acres, located a block away from Main Street, sold in 2011 for just over $322,000, according to Clark County property records.
The home is located in the historic Scotch 80s neighborhood in Las Vegas near the Las Vegas Medical Campus.
They have the vision of a 15-minute city type of neighborhood where residents can live an urban lifestyle and go about their daily lives without needing a car.
The Midtown mixed-use development project will add thousands of residential units across multiple buildings that will also accommodate office and retail space.
A mixed-use building is being proposed in the Arts District that would add more apartments, hotel rooms and commercial space to the area.
Restoration services and insurance companies are dealing with the impact of severe storms in the valley.
Available rental inventory should increase in the next year. There are at least 26 multi-family developments in progress.