Ovation Development Corporation is planning a 389-unit attainable housing complex on 18.6 acres of land it recently purchased from the Bureau of Land Management.
Ovation purchased the land for $100/acre, bringing the total to $1,860. The City of Henderson participated in the transaction. The land was appraised at $13.65M.
The land is located at the SEC of Las Vegas Blvd. and Larson Lane. On Oct. 29, the BLM, Ovation and City of Henderson representatives held a news conference to discuss the completed land transfer.
According to a press release by the City, “Federal land nomination and transfer processes typically take five to eight years. Through proactive coordination, strategic partnerships and streamlined federal procedures, the City of Henderson and its partners completed the process in just two and a half years, overcoming longstanding barriers to land availability and accelerating attainable housing development.”
Construction of Casara at West Henderson is estimated to cost $113M. The Nevada Housing Division and Clark County Community Housing Fund will help pay for the construction costs.
Amenities include a pool, fitness center and food pantry. The attainable housing project is intended to provide a place to live for residents in need of affordable housing.
As Las Vegas’ economy has a robust tourism sector, many residents work in the service sector and may benefit from affordable housing solutions.
The Kenny Guinn Center for Policy Priorities found nearly half of Nevada renters were “excessively cost-burdened,” as housing costs outpaced income growth.
The housing development is targeted at residents who earn up to 60% of the area median income. Utilities will be included in the rental price.
Developers aim to break ground in the next three to six months. According to the DATABEX project database, completion is expected in the second half of 2028.
