More luxury apartments being built near popular Las Vegas casino

An apartment developer started construction on the latest new rental complex near a popular Las Vegas casino.

Cleveland-based NRP Group announced that it broke ground on a four-story, 390-unit luxury apartment building just south of the 215 Beltway between Durango Drive and Cimarron Road, in the southwest Las Vegas Valley. Site work is underway.

The project is next to UnCommons, a mixed-use development with office buildings, apartments and food and beverage outlets. It’s also near the Durango hotel-casino, which opened in late 2023, draws big crowds and is already being expanded by owner Station Casinos.

NRP is partnering on the $133 million development with Haseko North America, the U.S. subsidiary of a Japanese condo builder, according to a news release.

Scheduled for completion in 2027, the apartment building will feature high-end finishes in the units and such communal amenities as a pool table, indoor pet wash, indoor bicycle storage with a repair station and a “multisport simulator,” the release said.

Construction wave

NRP also said that it recently broke ground on a 105-unit affordable-housing complex in North Las Vegas.

Plus, the firm is under construction on a 342-unit apartment project in the southern valley and expects to have units there ready for occupancy next year.

The developer has offices and projects around the country, but its wave of ventures in Southern Nevada marks the company’s first developments in the region.

Mike Moriarty, vice president of development at NRP, recently pointed out that it’s rare in the Las Vegas suburbs to live within walking distance of amenities. As for the southwest project, he said the firm is “trying to capitalize on all the development that’s already occurred in that pocket” of town, adding this makes the company confident that it can land higher rents with a more expensive project.

He said the rental rates would span around $2.50 to $2.60 per square foot at the complex, compared with around $2.15 to $2.20 per square foot at its under-construction project in the southern valley.

More housing near casino

NRP isn’t the only developer that plans to build an upscale apartment complex near the Durango.

The Calida Group has already broken ground on a four-story, 397-unit luxury apartment project next to the resort.

Calida co-founder Doug Eisner recently said that he expects to go vertical on the Ainsley-branded project next summer and have it ready for move-ins in 2027.

Calida has developed numerous Elysian-branded projects in Southern Nevada, but it also built an Ainsley apartment complex on Paradise Road just east of the Strip. That property boasts a yoga and pilates studio, Himalayan salt cave, red-light therapy room, poolside cabanas and other amenities.

Meanwhile, NRP has also said that its North Las Vegas project, called North & Valley, would be reserved for lower-income residents and help address a “critical housing gap” in the city.

Nevada, with the bulk of its population in the Las Vegas Valley, has a shortage of nearly 78,000 affordable and available rental homes for extremely low-income tenants, according to the National Low Income Housing Coalition.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.