Plan for large housing community in northwest Las Vegas clears key hurdle

The Las Vegas City Council on Wednesday greenlit a three-party purchasing agreement for a massive plot of federal land in the far northwest valley, clearing a significant hurdle for a proposed 6,000-unit housing development.

The roughly 940 acres sit between the Tule Springs Fossil Beds National Monument and land that belongs to the Las Vegas Paiute Tribe.

Monument Hills Partners LLC, formerly known as Olympia Companies LLC, would build the masterplan development.

The Bureau of Land Management officially approved the transaction last month, the city said. This week, however, the Paiute Tribe filed an appeal and petition with the federal agency to pause it, City Manager Mike Janssen told the council before a unanimous vote.

The reasons for the opposition, which Janssen noted could delay the sale, were not publicly disclosed Wednesday.

Barring any delays, the $94 million purchase — or about $100,000 per acre — would be completed by Feb. 16, 2026, Janssen said. An $18.8 million deposit is due on Aug. 20, according to the city.

In a “double escrow” transaction, the city would purchase the land from the BLM and quickly resell it to the developer, which will be responsible for the nonrefundable deposit and closing costs, Janssen said.

The project’s current iteration has been in the works since 2019 after the City Council selected Monument Hills Partners as the developer.

‘Much needed’ homes

The developer is proposing a masterplan community with at least 270 of the homes reserved for active duty military members stationed at nearby Creech Air Force Base, and Nellis Air Force Base, Janssen said.

It will have large open space areas that will include parks, trails and retail space, according to a presentation.

The city will consider land-use entitlements and final approvals later this year, Janssen said.

Janssen said that the BLM didn’t disclose its lengthy appraisal process but that the federal agency considered land “set aside” for schools, parks and other infrastructure, such as roads.

The Paiute Tribe and the BLM could not immediately be reached for comment.

“We’re excited to bring more homes and another fantastic masterplan community by Olympia Companies here in the city of Las Vegas,” said attorney Bob Gronauer, who represented the developer at City Hall.

He acknowledged that the deposit will not be nonrefundable if “legal risks” arise.

Councilwoman Nancy Brune represents the ward where the development is proposed.

She said she was eager to see “a final product that is very unique and special, and brings homes that are much needed. And hopefully an economic driver, too, that will support continued economic growth in our community.”

Contact Ricardo Torres-Cortez at rtorres@reviewjournal.com.