News Summary
The NRP Group has announced the financial closing and groundbreaking of a luxury residential community worth $133 million in Las Vegas. This new development will consist of 390 luxury apartments and is part of NRP’s expansion strategy in response to the region’s growing housing demand. Located near major employment hubs, the community aims to offer high-quality living with a variety of amenities, reinforcing NRP’s commitment to enhancing the housing market in Las Vegas.
Las Vegas, NV – The NRP Group has officially announced the financial closing and groundbreaking of a $133 million luxury residential community. This new development will comprise 390 luxury apartments located at the northeast corner of West Maule Ave. and Gagnier Blvd., directly across from the Durango Casino & Resort.
The project is being developed in partnership with Haseko North America, the U.S. subsidiary of Japan’s largest condominium construction firm. This marks The NRP Group’s third groundbreaking in Las Vegas in 2023, as the company expands its footprint in one of the fastest-growing cities in the U.S.
NRP’s expansion strategy is driven by strong confidence in the region’s long-term rental housing market, supported by robust job growth and notable in-migration patterns year-over-year.
Development Details
The Vice President of Development for NRP has emphasized that this project is a prime example of their luxury portfolio. The apartments are designed to encourage walkability and will feature high-end finishes, including stainless steel appliances and quartz countertops. The community will offer a mix of studio, one-, two-, and three-bedroom residences.
A variety of amenities will also be provided for residents, including:
- A swimming pool
- Landscaped courtyards
- A 24-hour fitness center
- Indoor bicycle storage with a repair station
- An indoor pet wash
- A 575-space parking garage
- A clubhouse featuring a community kitchen, coffee station, pool table, and a multi-sport simulator
The building design will prioritize modern aesthetics and focus on wellness and connectivity among residents.
Prime Location
The new community benefits from a strategic location with easy access to major employment hubs, including companies like DraftKings, EY, and Morgan Stanley. It is conveniently situated just a 10-minute drive from the Las Vegas Strip and 12 minutes from Harry Reid International Airport, making it a desirable location for both residents and investors.
Projected Timeline and Impact
The development is expected to be completed by the third quarter of 2027. In addition to this luxury apartment community, The NRP Group has also recently broken ground on a 105-unit affordable housing community in North Las Vegas and a 342-unit apartment project in the southern valley.
By the end of the year, nearly 1,200 units across four developments in Las Vegas will be under construction, showcasing the NRP Group’s commitment to addressing housing needs in the rapidly growing city.
Strategic Partnerships
Haseko’s involvement in this project highlights the aim of the partnership to create transformative communities and long-term value in dynamic housing markets. The availability of entertainment, dining, and employment opportunities in a walkable environment was emphasized as a key advantage of the new community, which aligns with modern lifestyle preferences.
The NRP Group has a long-standing history, having developed over 62,000 apartment homes since 1994, and currently manages over 30,000 residential units across the U.S. This latest project further cements its position as a significant player in the housing market.
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Additional Resources
- MultifamilyBiz: NRP Group and Haseko Break Ground on 390-Unit Luxury Community
- Review Journal: More Luxury Apartments Being Built Near Popular Las Vegas Casino
- CoStar: After Six Years of Challenges, Luxury Apartment Project Rises to Meet Expanding Las Vegas Economy
- Wikipedia: Apartment
- Google Search: Las Vegas housing market
Author: STAFF HERE LAS VEGAS WRITER
LAS VEGAS STAFF WRITER The LAS VEGAS STAFF WRITER represents the experienced team at HERELasVegas.com, your go-to source for actionable local news and information in Las Vegas, Clark County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Electric Daisy Carnival, World Series of Poker, and Consumer Electronics Show. Our coverage extends to key organizations like the Las Vegas Chamber of Commerce and Three Square Food Bank, plus leading businesses in hospitality and entertainment that power the local economy such as MGM Resorts International, Caesars Entertainment, and Las Vegas Sands. As part of the broader HERE network, we provide comprehensive, credible insights into Nevada's dynamic landscape.
