A mixed-use building is being proposed in the Arts District that would add more apartments, hotel rooms and commercial space to the area.
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Though thousands of new apartment units are under construction in the Las Vegas Valley, a national group says the region has a shortage of low-income rental units.
Southern Nevada’s housing market pumped the brakes in 2022 amid fast-rising mortgage rates. But it wasn’t the first time increased borrowing costs slowed home sales.
Rates continue to hover around 7 percent, as the “dynamics of a once-hot housing market have faded considerably,” an economist said.
Homebuilders notched 580 net sales in Southern Nevada in September, up 19% from August but down almost 41% from September of last year.
Mortgage rates fell in August, helping new home sales, but borrowing costs have since climbed higher.
The 528-unit property is 95 percent occupied, the new landlord said.
Starlight U.S. Residential Fund has acquired Lyric, a 376-unit apartment complex in the south valley.
From ranch homes to mini mansions, $1 million homes are diverse, offering a variety of amenities.
Renters who have received an eviction notice can receive free in-person help Saturday at designated Las Vegas Library District branches.