Large apartment complex opens in North Las Vegas
A 417-unit, 13-building apartment complex in North Las Vegas is now leasing.
Parq at Camino, billed as luxury apartments, is northwest of the Craig Ranch Regional Park and south of the 215 Beltway.
The complex features one, two and three-bedroom units with rents starting at $1,407, and square footage ranging from 837 to 1,299, according to Cushman & Wakefield, which is managing the property. Amenities for the complex include covered parking, electric vehicle charging stations, pet washing stations and dog park. The property also includes a pool, clubhouse, indoor and outdoor fitness center, business center and picnic areas with barbecue grills.
The property was developed by Morgan Stonehill.
The Las Vegas Valley is dealing with a shortage of housing — both single-family homes and apartments — with North Las Vegas being ground zero for much of the housing pains in the valley.
Over the past year, rental rates for a one-bedroom apartment in the Las Vegas Valley dropped double-digits until the end of August, according to a new report from Rent.com, which is owned by Redfin. From July to August of this year, rental rates bumped up slightly, by 0.36 percent, the report stated.
And while rental rates have dropped in some parts of the valley, they have mainly risen over the past few months in North Las Vegas, according to research data from UNLV.
But there could be some relief as thousands of apartment units — a record number — are preparing to open across the valley, including in North Las Vegas, and analysts believe this should cause rental rates to drop at some point in the near future.
Last year, the Census Bureau ranked North Las Vegas fifth on the list of cities with the greatest population increase since 2020, adding 9,917 new residents. The city’s estimated population in 2021 was 274,133. North Las Vegas also has one of the highest rates of unpaid mortgages in the country, according to another report.
According to online real estate brokerage Redfin, the average price for a single-family home in North Las Vegas is $401,750, below the average for the entire Las Vegas Valley, which sits at $410,000.
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.
