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Hundreds of apartments proposed for downtown Las Vegas

Updated March 14, 2024 - 6:39 pm

Two mixed-use projects that could brings hundreds of apartments to the heart of Las Vegas are taking steps to open in 2026.

The vastly different projects, one providing workforce housing, with rent caps, on the Historic Westside, and the other, Ilumina Midtown, targeting high-income renters near downtown, are both expected to include restaurant space.

The $27 million shareDOWNTOWN project proposed for 1.2 acres at the northeast corner of the D and Jefferson streets on the Historic Westside is designed to boost workforce housing options for people who want to live near downtown, said Sam Cherry, CEO of Cherry Development, the developer. This project will have 104 units, and a groundbreaking is set for March 21. It could open by early 2026, the developer said.

Of the 104 units, 84 will have rents capped by fair rent metrics determined by the U.S. Department of Housing and Urban Development, Cherry said, and the remaining 20 units will be rented without restrictions.

The shareDOWNTOWN project will include 8,400 square feet of retail space. A incubator program for Historic Westside businesses operated by Las Vegas will be housed in part of the space. A 6,400-square-foot market and food hall also operated by the city are planned for the project.

Development costs for the project are reduced because the land, currently owned by the city, will be conveyed to Cherry Development for $6, Cherry said.

It will be the third shareDOWNTOWN project in Las Vegas, with one in the Arts District and another in the Fremont East area.

Ilumina Midtown

The $115 million Ilumina Midtown apartment project is planned near the intersection of Charleston Boulevard and Grand Central Parkway, which is just to the east of Interstate 15 and near the Las Vegas Premium Outlets North, according to city of Las Vegas records.

The proposed project will have 275 apartment units, from 600 to 1,800 square feet, said Bob Schulman, chairman and owner of Schulman Properties, the developer.

Documents filed with the city show the project could include a 4,000-square-foot restaurant space, a 40,000-square-foot health club, gym, pool, sports courts and a coworking space.

If approved by the city, construction is expected to start in the spring of 2025, and the first move-ins could happen in the summer or fall of 2026, the developer said.

“We’re five to 10 minutes from the Strip, we’re five-10 minutes from downtown, City Hall,” Schulman said. “Downtown (Las Vegas) including Midtown, is what we call it, is just going through a transformation. … It is finally coming of age to be the place for those who look to live in a city environment.”

The project is slated to go before the Las Vegas Planning Commission for approval next month after being pushed from this week’s agenda.

These proposed projects join several others in the works for the Arts District and nearby neighborhoods, including the 3,000-unit midtown project from Z Life Co., a 337-unit project from the Southern Land Co. and a 311 unit project from CEDARst.

Contact Sean Hemmersmeier at shemmersmeier@reviewjournal.com. Follow @seanhemmers34 on X.

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