Chelsea Investment Corporation is listed as the owner, while Perlman Architects is serving as the architect. Kaempfer Crowell is providing legal representation for the proposed multifamily complex. Lifescapes International, Inc. is the landscape architect.

The 120 units are to be spread across five individual buildings. A sixth building will be constructed to include a clubhouse and office. The buildings collectively total 121KSF. Current plans call for 30 one-, 60 two- and 30 three-bedroom units.

The six buildings are to be constructed on a 3.8-acre site east of Nellis Blvd. and north of Vegas Valley Drive in Sunrise Manor. The site will have an overall density of 31.33 units/acre.

Each residential building will have three stories and a total height of 38 feet. The one-bedroom units will be 570SF, two bedrooms will be 795SF, and three bedrooms will be 1.1KSF. Each unit will contain a kitchen, dining room, bathroom and bedroom.

Access is to be provided via a 36-foot-wide driveway toward the NWC of the site off Nellis Blvd. The driveway then leads to a 48-foot-wide driveway that connects to the leasing office building. Further down the driveway, there will be a gate with a call box that leads to the residential buildings.

Parking is primarily located in the central portion of the complex. Most parking stalls will be covered with a shade structure. Plans include 148 individual parking stalls, which match the parking requirements. Notably, the calculation implements parking reductions due to the nature of affordable housing.

The site will contain 34.5KSF of open space, where only 33.4KSF is required. This includes a 2.7KSF dog park on the western end of the complex, a 3.6KSF children’s playground just east of the dog park, a pool and small pockets of park space that include gardens and seating areas.

The buildings are described as making use of a primarily stucco finish. Other aesthetic details include foam bands and window treatments, stucco parapets and flat roofs. Pop-outs will be implemented on various walls. The color scheme is comprised of clay, beige and grey. The office building incorporates similar design elements but will be one story and 17 feet tall.

Developers are planning an eight-foot-tall screen wall along the south and east property lines. Currently, there is a six-foot-tall wall along the north property line. Plans also call for a six-foot wrought iron fence on the western property line.

Waivers of Development Standards and Special Use Permit

Developers are requesting three Waivers of Development Standards alongside the application. Staff’s response to the waiver requests was mixed.

The first waiver was requested to reduce the required buffering and screening. While staff is willing to allow a reduction in buffering to the north end, as it lies adjacent to an existing multifamily development, it did not support a reduction in buffering along the eastern property line next to a single-family development.

Staff was fully supportive of the second waiver, which requested an increase in retaining wall height.

The third waiver sought to modify residential adjacency standards. This request had two parts. The first, which staff recommended approval of, was to increase the fill height along the north and east property lines. The second, which staff did not recommend approval of, would allow parking stalls on the eastern property line without buffering and screening.

Staff was supportive overall of a Special Use Permit for the proposal. Notably, staff mentioned the proposal would help bring affordable housing to a mixed-income area.

While staff expressed positive sentiments toward the proposal in its Design Review, it ultimately did not recommend approval due to the proposed screening and buffering.

The post Chelsea Investment Corporation Proposing 120-Unit Affordable Apartment Complex in Sunrise Manor appeared first on NVBEX.

Project Details and History

Monument Hills Partners, formerly known as Olympia Companies LLC, is planning a 6,000-unit housing development across its master plan on the site. ABLA is the master land planner, according to a conceptual master plan submitted in July.

The project dates back to 2019, when the City Council selected the developer. The community will contain at least 270 homes reserved for active-duty military members stationed at the Creech Air Force Base and Nellis Air Force Base.

Plans include expansive open space areas, parks, trails and retail space. There will also be room for schools and other infrastructure developments, such as roads.

Notably, a presentation submitted by the developers indicates they are planning to create a walkable area by including “multimodal and mixed-use villages within the pockets of development that are defined by open space.”

The presentation goes on to say developers will have retail centers with shops and entertainment options spread throughout pockets of residential areas. There will also be a business park area, multifamily developments and office space.

Current plans indicate there will be three separate villages: the North Village, Central Village and South Village. There are currently three distinct phases planned. Phase I includes a business park, retail area, office space, multifamily and single-family. The next two phases will continue off the foundation prepared from the first phase.

Transaction Details

The three-party transaction calls for the City to purchase the land from BLM and then resell it to the developer, Monument Hills Partners.

The BLMapproved its end of the transaction in July. Prior to City Council’s approval, an appeal and petition were filed by the Paiute Tribe with the BLM.

The reasoning behind the appeal and petition was not explicitly stated. The appeal could delay the $94M sale. If the sale is not delayed, however, the sale is to finalize on Feb. 16, 2026. The City said that an $18.8M deposit is due on Aug. 20.

Las Vegas is set to consider land-use entitlements and final approvals later this year.

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Moonwater Capital is the owner and developer. Kaempfer Crowell is the legal firm representing the project. Design documents indicate Yihong Liu + Associates is the architect. Project representatives confirmed Martin Harris Construction is the general contractor.

The 210KSF building is to be constructed near The Bend retail complex. The Clark County Board of County Commissioners initially approved the project in June 2023, and then later approved an extension in May of this year.

According to the approved documents, plans include a 660.2KSF parking garage. Developers have also made room for 19.5KSF of restaurant space on the 4.2-acre site. The garage will be six stories and built directly north of the office building. The restaurants will be located on the top floor of the garage. In total, estimates indicate the project will cost more than $130M.

Surface parking will also be constructed between the garage and the office complex. While only 1,104 parking spaces are required, developers have opted to include 1,150 spaces.

Aesthetically, the office building will use various shades of grey with white and orange accents. It will use decorative metal and panel systems, a stone tile exterior and an aluminum storefront window system. Mounted equipment on the roof will be screened via parapet walls.

The garage will have a varying roofline from 65.5 feet to 92 feet. The exterior will be made up of stucco and stone tile exterior clad. Three restaurant spaces will be on the top floor, each of which will also have a stucco exterior. The dining areas will feature orange metal-clad canopies.

According to project representatives, electric and fiber conduits and water and sewer connection points have been established.

No building permits have been issued, but developers are hoping to break ground early 2026. According to project representatives, the company is currently amidst a pre-leasing campaign. As of now, completion is projected for Q1 of 2028.

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Prospect Street (dba Panther Acquisitions, LLC) is the developer and applicant. The property owner is City Parkway V Inc., which is a municipal corporation affiliated with the City of Las Vegas. EV&A Architects is the architect. While a general contractor has yet to be announced, project representatives said they have an idea who it may be.

The building, called the Symphony Park MOF, is proposed on a 1.4-acre portion of a 4.8-acre parcel at the SEC of Robin Leach Lane and Promenade Place. The parcel is currently zoned Planned Development in the Symphony Park special area district. Symphony Park MOF is subject to the Symphony Park Design Standards.

The City of Las Vegas recently released a request for proposals to develop the remainder of the site, also known as Parcel J. The RFP stressed the importance of proposing a development that was compatible with the Symphony Park MOF. (NVBEX July 14)

More specifically, the building is planned within Symphony Park’s Office/Medical District. The staff report says, “This area is characterized by large, monolithic and monumental buildings, with larger scale fenestration patterns and a lower degree of texture on skin and massing.”

If approved, the building will replace a portion of the existing surface parking lot that currently lies on the site. The staff report indicates the building will mostly consist of shell space to be used for multiple medical office tenants.

Plans indicate the building will be able to accommodate outpatient clinics, ambulatory care facilities and professional services. Development plans also include 1.5KSF for a coffee shop. A cost estimate has yet to be announced.

There is no parking directly planned with the medical outpatient facility. Symphony Park offers three public parking garages to serve incoming traffic. Furthermore, the owner agreements between Prospect Street and the City of Las Vegas call for a temporary surface parking lot.

Developers have requested a Waiver of Development Standard to relieve 100% of the parking requirement. If not for the waiver, the development would call for 602 parking spaces.

The staff report states the building is currently designed to feature a light-grey concrete exterior with vision glass and metal panels displaying different colors. In its review, the Symphony Park Design Review Committee found the painted concrete exterior does not fit the surrounding area.

In its July 10 letter, the DRC said, “The plan states painted concrete, which the Committee would not approve. Your building is situated between a polished steel Gehry and the limestone Smith Center. Similar to stucco, painted concrete is an inexpensive alternative where higher quality materials are required in Symphony Park, at least on the ground floor elevation.”

Other design elements include multi-layered undulating louvers displaying multiple colors. This component is to be situated on the south-facing portion to complement the nearby Lou Ruvio Center for Brain Health.

The City received a conditional approval letter from the DRC on July 16. Submitted documents are subject to further review and revisions prior to the issuance of building permits.

Waivers of Development Standards

Developers have requested seven Waivers of Development Standards, each of which was recommended for approval by City staff. This includes the waiver to eliminate parking requirements.

Another waiver was recommended to allow a building that is not LEED certified. The recommendation notes the waiver only covers the certification requirement. The proposed development is still required to comply with all other LEED standards.

A third waiver was requested to allow the development of a building that is not a “high tower” on Parcel J. Parcel J was originally intended to be occupied by a high-rise building. This request goes hand in hand with an additional waiver, which is to allow a “low tower” development. The final three waivers consisted of alternative setbacks.

The proposal is scheduled to appear at the Aug. 12 Las Vegas Planning Commission meeting for a site development plan review. The agenda summary states the proposal could appear before City Council during its Sept. 17 meeting.

Project representatives said if everything goes to plan, the project should break ground sometime around Q2 2026. Construction is expected to last for more than 12 months.

The post Prospect Street Proposes 103.2KSF Medical Facility in Symphony Park appeared first on NVBEX.

The Clark County Commission held an information session with representatives from the University to discuss plans for the two campuses. The North Las Vegas campus calls for the construction of a new building, while the Medical District campus will lease space in an existing building.

North Las Vegas Campus

The North Las Vegas campus calls for the construction of a 30KSF building in North Las Vegas Gateway Village near the intersection of North Lake Mead Blvd. and North Las Vegas Blvd.

The three-story building will allow NSU to provide courses, degree pathways and workforce development. This location will also feature a student access hub that will include recruitment, advising, financial aid, tutoring and career services.

The presentation says the North Las Vegas development is intended to be a part of a “livable downtown district where residents can more easily and comfortably live, work and play.”

The North Las Vegas Redevelopment Agency is planning to offer rental assistance to NSU for five years. This accounts for around $7.5M.

State funding will provide an additional $2.5M, while donations have accounted for an additional $250K. No official timeline has been set, but officials estimate the project will open in the fall of 2027. This campus is estimated to accommodate more than 2,500 students across 240 courses per term.

Medical District Satellite Campus

The proposed Medical District campus, called the Juvenile Allied Health Education Center and Clinic, is to be in an existing building off Charleston Blvd. The campus will offer four degrees: speech language pathology, educational psychology, nutrition and kinesiology. The latter two options are new to NSU.

Plans call for the creation of four community health clinics under a single roof. The building will also contain classrooms and faculty offices.

According to a presentation from NSU, the campus will specifically feature a nutrition laboratory classroom, a kinesiology classroom, a speech therapy clinic with an audiology suite and alternative communication center, an educational psychology clinic with a play-based observation room, a kinesiology clinic and a nutrition clinic.

NSU is partnering with the City of Las Vegas, which is offering full rent coverage for two years and 50% rent support for the following three years. Furthermore, the City is planning to provide $50K in annual grants, as well as introductions to health care providers in the Medical District.

Operations are expected to commence by spring of 2026. Projections indicate there will be roughly 500 students across 60 courses per term. The clinics will be able to serve around 250 patients on a weekly basis.

A Facebook post from the City of Las Vegasstates the Higher Education Board of Regents is to consider the lease agreement in September.

NSU’s Decade of Steady Growth

The expansion is being considered as enrollment at NSUhas more than doubled in the past decade. In 2015, NSU reported 3,364 students, while just last spring the University had 7,414. Notably, 49% of students are high school students enrolled in dual-credit programs.

The student body is located throughout the Las Vegas Valley, which has led to long travel times. NSU primarily focuses on nursing and education. NSU officials stated the Medical District is a prime location, as the area is in need of new graduates to fill positions.

The post Nevada State University Planning Expansion with Two Satellite Campuses in the Las Vegas Valley appeared first on NVBEX.

Madison Capital Group owns the project, while Ahlquist is serving as the developer. Gensler is the architect, and Engineered Structures, Inc. is the general contractor. (NVBEX March 15; April 3; July 24)

The project, in its entirety, will feature 282 multifamily units, 133.7KSF of retail/entertainment space, 120.5KSF of office space, 12.1KSF of amenities, 390 hotel rooms, a 900-space garage and a 50KSF plaza.

One tower will contain residential and office space, while the other will have the hotel. The first floor of the buildings will be home to retail and restaurant space.

First Permit

The first permit was filed for work on the former Reno National Bank. The building was originally constructed in 1915. The submitted permit consists of demolition work for the upcoming buildout and roofing replacement work.

Once the work is completed on the bank building, three restaurants are slated to move in. Fine Entertainment is bringing its PKWY Tavern, BLVD Grill and Mint to the property. Designs currently call for an arcade bar area that features bowling and billiards.

Second Permit

The second permit sets its sights on the parking garage on University Way. Renovations include repairs to the concrete floor, stairs and doors. Repair work will also be done on the columns and exterior façade. Striping work will be done on the first floor alongside the implementation of new electrical systems.

The post Madison Capital Group and Ahlquist File Permits for Reno Revival appeared first on NVBEX.

The listening sessions are to be held at the Carson City Library at 900 N. Roop St. The sessions are being held on:

• Monday, Aug. 11 from 12 p.m. to 2 p.m.;
• Tuesday, Aug. 12 from 5 p.m. to 7 p.m., and
• Saturday, Aug. 16 from 10 a.m. to 12 p.m.

Feedback from the sessions will be presented and further discussed during a Planning Commission meeting in September. (Source)

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Solar for All was created as a $7B program that consisted of 60 grants across every state. The program was intended to provide funding for solar panels on homes and businesses.

The One Big Beautiful Bill retracted $27B from the Greenhouse Gas Reduction Fund, part of the Inflation Reduction Act that funded the Solar for All program.

The Nevada Clean Energy Fund, the nonprofit responsible for the funds delivered via the Solar for All grant, released estimates that found the Solar for All program would have reduced power bills for 50,000 Nevadans.

The program was expected to create around 1,000 new jobs. The Nevada Clean Energy Fund argued that the government is legally obligated to provide the funding. (Source)

The post Environmental Protection Agency Pulls $156M in Nevada-Based Solar Funding appeared first on NVBEX.

The MMS produces two separate indices. The Multifamily Production Index had a reading of 46, up two points year-over-year, while the Multifamily Occupancy Index had a reading of 82, up one point year-over-year.

The MPI measures builder and developer sentiment about current production conditions in the apartment and condo market on a scale of 0 to 100. The index and all its components are scaled so that a number below 50 indicates that more respondents report conditions are poor than report conditions are good.

The MPI is a weighted average of four key market segments: three in the Built-for-Rent market (garden/low-rise, mid/high-rise and subsidized) and one in the Built-for-Sale (or condominium) market. The component measuring garden/low-rise dropped three points to 50, the component measuring mid/high-rise units increased seven points to 36, the component measuring subsidized units jumped 10 points to 61 and the component measuring built-for-sale units posted a three-point decline to 35.

The MOI measures the multifamily housing industry’s perception of occupancies in existing apartments on a scale of 0 to 100. The index and all its components are scaled so that a number above 50 indicates more respondents report that occupancy is good than report it is poor. The reading of 82 indicates existing apartment owners are positive about occupancy.

The MOI is a weighted average of three Built-for-Rent market segments (garden/low-rise, mid/high-rise and subsidized). All three components remain solidly in positive territory above 50: the component measuring garden/low-rise units increased two points to 84, the component measuring mid/high-rise units fell three points to 73 and the component measuring subsidized units rose five points to 90.

”Multifamily developer confidence and sentiment are showing slight signs of improvement when compared to this time last year,” said Debra Guerrero, senior VP of strategic partnerships and government affairs at The NRP Group in San Antonio and chairman of NAHB’s Multifamily Council. “High interest rates, rising construction costs, limited land availability and restrictive local regulations are still significant issues in certain parts of the country. But confidence in subsidized affordable housing has shown considerable improvement in this survey, due in part to optimism surrounding the expansion of federal affordable housing resources flowing from the recent congressional reconciliation bill.”

The MMS was re-designed in 2023 to produce results that are easier to interpret and consistent with the proven format of other NAHB industry sentiment surveys. Until there are enough data to seasonally adjust the series, changes in the MMS indices should only be evaluated on a year-over-year basis. (Source)

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1. The Paradise Esplanadeshopping center in Paradise was sold to Litwin Management for $46.4M. The 58.7KSF shopping center was 89% leased at the time of sale. JLL Capital Markets represented the undisclosed seller.

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