New Rental Property in Historic Westside Las Vegas Set to Open End of May
LAS VEGAS, NV – A local Las Vegas developer has announced that a new multi-unit rental property that is located in a traditionally underserved section of the city – the Historic Westside – that would greatly benefit from such a development amid great demand is now set to open this May.
Developer Sam Cherry of Cherry Development’s five-story, rental property – dubbed Share Westside – is made up of 104 one-bedroom, 580 square-foot units, and includes amenities such as coworking space, a fitness center and a movie screening room. The complex also comes with an additional 10,000 square-feet of retail and office space.
Share Westside is built upon a city-owned one-acre plot of land at the northeast corner of Jefferson Avenue and D Street that Cherry had previously purchased for a mere $6. The tiny fee was due to the fact that the apartment complex is aimed at providing housing for local workforce members, and 84 of the units are subject to an agreement with the Las Vegas City Council that limits rental rates.
The City Council approved the project in mid-2023, with Cherry then closing on the purchase in fall 2024, according to records; the cost of Share Westside is approximately $22 million.
Cedric Crear, one of the members of the City Council that voted to approve the project, stated that he was unable to remember the last time that anyone had built any sort of housing in Historic Westside, and it is hoped that Cherry’s work will spur additional development in the region.
Cherry has previously opened a 63-unit rental complex in Las Vegas’ Arts District, in addition to another rental project on Fremont Street. These projects are addressing a housing shortage in Las Vegas’ downtown area, something that local officials have said is sorely needed.
Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.
Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management