Category Archive : Market Updates

LAS VEGAS, NV – Nowadays, young families are struggling more than ever to purchase their first home. Due to a combination of soaring home prices and near-record high interest rates on home mortgages, the dream of home ownership is slowly slipping away from many Americans.

However, there are some areas of the country where you have a better shot of finding an affordable home than others, and according to personal finance website WalletHub, three cities in Nevada rank in the top 300 of the best places for first-time homebuyers, with one of those cities actually placing way up in the list’s prestigious top five.

WalletHub’s Best & Worst Cities for First-Time Home Buyers ranking takes numerous factors into account when establishing its placings, including affordability, the overall real estate market, and quality of life, drawing data from numerous sources, including the U.S. Census Bureau, the Bureau of Labor Statistics, the Department of Housing and Urban Development, as well as the FBI.

Overall, Reno was ranked at no. 52 and North Las Vegas at no. 39, although both of these Nevadan cities actually ranked even higher when compared to other cities whose population sizes were similar.

However, Henderson ranked at no. 18 on the list overall, and that placing shot up to an impressive no. 5 when compared to other large cities with populations of 300,000 and higher.

Henderson also drew high marks overall in individual categories such as affordability, where it placed at no. 50 in terms of home price vs. household income, insurance costs, real estate taxes, and cost per square foot. It also placed at no. 132 for quality of life, which takes into account factors such as school system quality, crime rates, weather, driver friendliness and job market.

Henderson also reached no. 42 in the real estate market category, which examines variables such as rent-to-price ratio, home price appreciation, foreclosure rate, number of listings, and millennial homeownership.

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

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

www.shelterrealty.com

LAS VEGAS, NV – Currently, there is a new trend across the real estate market in the United States where the inventory of homes for sale has increased drastically across the board, and Las Vegas is currently experiencing the highest degree out of the entire nation, according to a new report.

As per a report released this week by the National Association of Realtors (NAR), the number of listings on the market without any offers in Las Vegas is currently up a whopping 77 percent year-over-year, with the valley currently leading the nation in this metric.

Broken down by listing type, Las Vegas Realtors reports that there were 6,992 single-family homes for sale with no offers at the end of June, which represents a 70 percent jump year-over-year; meanwhile, there were 2,564 condominiums and townhomes without offers, an 87.6 percent increase over the same period of time one year prior.

June sales in Vegas showed a decrease of seven percent year-over-year, with the average home for sale remaining on the market for over 30 days; 80 percent sell within 60 days.

One contributing reason for the situation in Vegas, NAR notes, is an abnormally high number of retirees currently leaving Southern Nevada, with their homes subsequently and thoroughly flooding a market already experiencing a high degree of saturation in recent months. 

However, Las Vegas Realtor Jeff Crampton noted that there are two other reasons that Vegas’ inventory is swelling so much at the moment.

It’s been some time since we had this many homes on the market,” he said. “Two factors are keeping buyers on the shelf. One is the interest rates, and the other is the unsettling financial news on our TV every freaking day. Tariffs. No tariffs. War. No war. When people are going to spend hundreds of thousands of dollars on something, they want certainty.”

Coming in second in terms of home inventory spikes is Washington, D.C. at 63.6 percent, followed by Raleigh, North Carolina at 56.4 percent.

Nationally, the overall increase in home inventory year-over-year for sale is at 28.9 percent.

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

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

www.shelterrealty.com

LAS VEGAS, NV – KB Home, one of the largest homebuilders in the United States, is set to open three new housing communities in Las Vegas in the very near future.

KB Home currently boasts 28 home communities open throughout the greater Las Vegas area in a wide variety of home styles, from single-family homes to attached townhomes, at affordable price points starting from the $300,000’s. And the president of the company’s Las Vegas division, Jim McDade, believes a strong series of sales this past spring season are a harbinger of continued brisk business in the months and years to come.

We’re still seeing relatively strong demand and sales performance in Las Vegas, and the long-term housing market conditions remain positive,” he said. “This is supported by an under supply of new and resale homes as well as favorable demographics, solid employment, wage growth and household formations.”

As for the new communities that KB Home will be opening, the first is Landings and Reserves at Caspian Bay in southeast Henderson, located at the corner of Weeks Bay River Road and Equestrian Drive, just off Boulder Highway. The community is slated to open this July and will be made up of 244 housing units, ranging from one-and-two story houses that will vary between 1,500 to 3,000 square-feet in size and offer up to five bedrooms and five baths.

Next up is Manzano, which will open in August. Situated at northwest of Henderson and northeast of Harry Reid International Airport at Boulder Highway and Interstate 11, this community will be comprised of 219 units, ranging from one-and-two story houses that will vary between 1,100 to 2,400 square-feet in size and offer up to five bedrooms and four baths.

And finally, Meridian – an affordable community tailored towards first-time buyers – will be opening in early 2026 in central Henderson and will offer 940 units, made up of a mix of two- and three-story attached townhomes and single-family homes.

Our strategy also focuses on delivering the most compelling value and improving affordability through transparency with our pricing rather than relying on incentives,” McDade said. “These factors are real differentiators and have contributed to our leading absorption rates in the industry over many years and have also driven our consistent achievement of the highest customer satisfaction ratings among production homebuilders.”

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

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

www.shelterrealty.com

LAS VEGAS, NV – A lavish Las Vegas estate designed by noted Arizona-based architect Bill Tull that boasts extensive equestrian facilities is set to be listed on the market for the impressive sum of $17 million.

The huge whitewashed adobe-style residence was originally designed in the mid-1990s, and while Tull is known as the vision behind numerous ground-breaking homes in his native Arizona as well as California and Texas – where he is especially noted for having designed country music star George Strait’s estate – the residence in Las Vegas remains the only one of his design in Southern Nevada.

The property is situated a mere 15 minutes from the famed Las Vegas Strip; however, you wouldn’t know it by its calm and isolated feel, with the residence located on a large 9.8-acre plot of land adorned with numerous trees for a sense of privacy, according to current owner Bonnie Elkanich.

It’s super peaceful, you could never find anything like it in Vegas,” she said. “There’s a family of hawks and eagles that were raised on the property from the previous owner for the past 40 years. There’s also beautiful views of Sheep Mountain.”

The property has only had one previous owner, from whom Elkanich purchased it approximately five years ago for an undisclosed sum.

The house comes in at 8,611 square-feet of living space, spread out among six bedrooms; every single room in the residence has a fireplace, of which Elkanich says there are a total of 32. In addition to the main house, there are also two detached casitas, one with two bedrooms and bathrooms, and the other with one of each.

When she bought the property, Elkanich said that she completely renovated it, laying down new stone floors, replacing the plumbing and electrical systems, and knocking down five walls to open up the main living spaces. The basement also features chilled wine and whiskey rooms, making use of refrigeration systems that were originally used by the previous owner for a subterranean meat locker.

But the property’s main feature is that it was designed with horse-lovers in mind, and to that end it boasts a 16-stall stable, an Olympic-size covered arena, a round pen, a hot walker and pastures. In addition, horseback rising is allowed by both the county and state on the neighborhood’s streets, according to listing agent Ivan Sher of IS Luxury.

It’s really like an oasis in Las Vegas, and it’s also one of the very few adobe-style properties in the country with equestrian facilities,” Sher said.

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

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

www.shelterrealty.com

LAS VEGAS, NV – A new Redfin report speculates that prices of homes in the Las Vegas Valley could begin to drop in the second half of 2025, based on a variety of factors.

A senior economist at Redfin, Asad Khan, has said that the valley is currently experiencing a “weak homebuying season,” as evidenced by the fact that pending sales in May decreased 17.7 percent year-over-year, placing it third in terms of pending sales drops in the entire nation, behind only Fort Lauderdale at 18.6 percent and San Jose at 18.3 percent.

At the same time, Las Vegas registered the highest active listings growth in May among the top 50 metro areas in the U.S. The reason for low sales has been particularly weak demand in the Las Vegas region,” Khan said. “High mortgage rates and high prices are keeping a lid on demand, even though the stock of homes for sale is growing. Most sellers in the Las Vegas metro area have significant equity in their homes created during the run-up in prices, so few sellers are feeling the pressure to sell quickly with prices still rising.”

As per Las Vegas Realtors’ monthly report, in June the median sale price for an existing single-family house in Southern Nevada was $485,000; this ties the record high established during the first three months of 2025, after which that price dropped to $480,000 in April and May before rising back to its previous record high once again.

Amid these record high prices, however, sales in the region have continued to drop, which Khan attributes to not only affordability concerns, but also high interest rates on home mortgages; that, he said, will likely contribute to sales continuing to slow down, which will eventually translate to buyers having more negotiating power going forward.

There are still hundreds of thousands more home sellers than buyers nationwide. But some would-be sellers are sitting on the sidelines as the market tilts more and more in buyers’ favor in much of the country,” Khan said. “Pending home sales fell 2.3 percent year over year during the four weeks ending June 22, the biggest decline in three months. There are two key reasons why home sales are slow. One, housing costs are still soaring, with home-sale prices up 1.6 percent year over year to a record high and mortgage rates sitting near 7 percent. Two, many would-be buyers are holding off due to widespread economic uncertainty and recession jitters.”

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

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

www.shelterrealty.com

LAS VEGAS, NV – Following a brief two-month respite, home prices in Las Vegas are once again back up to their all-time record high level, according to a new report by Las Vegas Realtors (LVR).

As per LVR, in June the median sale price for an existing single-family house in Southern Nevada was $485,000, which represents a 2.1 jump year-over-year, as per data pulled from the Multiple Listing Service; this ties the record high established during the first three months of 2025.

Starting in January, home prices in Las Vegas reached and maintained their all-time record high of $485,000 for three months in a row; April finally saw that number dip to $480,000, and that dollar amount remained firmly in-place for May as well, at the time prompting experts to speculate that it signified the possibility that the market could be slowly shifting to favor buyers once again.

Meanwhile, June saw prices for condominiums and townhomes at $307,000, which represents a slight decrease from May, but nonetheless an increase of 3.4 percent year-over-year. The last all-time record high price for condos and townhomes in Vegas was established in October 2024, when that amount reached $315,000.

LVR notes that a combined total of 2,461 homes, condos and townhomes were sold in Vegas in June, which is a seven percent decrease from the same period of time last year for homes, and 14.9 percent drop for condos and townhomes.

LVR also reported that there were 6,992 homes in Southern Nevada listed for sale without an offer by the end of June, a 70 percent increase year-over-year, and 2,564 condos and townhomes, 87.6 percent increase. But LVR President George Kypreos noted that this trend continues to represent a degree of stability returning to the Vegas housing market.

Although home prices bounced back to their previous peak, prices have actually been pretty stable so far this year,” he said. “The biggest change in our local housing market lately has been the increasing number of homes available for sale, which is good for buyers. It should also be prompting to sellers to be realistic when pricing their properties.”

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

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

www.shelterrealty.com

LAS VEGAS, NV – To address the housing crisis that is currently ongoing in Las Vegas, the Southern Nevada Home Builders Association (SNHBA) announced that petitioning the government to release more federally-controlled land for development would be the group’s main priority in 2025, a goal that’s looking now more than ever closer to becoming a reality.

SNHBA CEO Tina Frias last week said that her organization has been working with the office of Nevada Senator Catherine Cortez Masto on bipartisan efforts to make 25,000 acres of federal land available to Clark County for the development of both affordable housing as well as growing local business interests. In addition, an additional 2 million acres will be set aside for conservation.

Along with the above-mentioned acreage being made available, Frias expressed hope that additional land will be released in the near future as well.

From the folks that have been involved in federal lands in the state for 30-plus years and are part of my membership, they said this is the most momentum they have seen on a lands package ever,” she said. “I’ll tell you in my opinion I’m both excited but also nervous because I think we will see something come to fruition.”

One of the primary reasons for the housing crisis in Southern Nevada, according to a growing number of those in the real estate industry, is due to the Bureau of Land Management (BLM), with the federal agency currently managing nearly three million acres in Clark County; the U.S. government currently owns 80 percent of the land in the state of Nevada overall – the most out of any state in the country – and 88 percent of Clark County.

In 1998, the Southern Nevada Public Land Management Act was passed that set aside approximately 67,000 acres out of the 2.9 million available in the Las Vegas Valley for development of residential housing units or commercial uses, with an additional 33,000 acres that have also been earmarked for potential developing that have not yet been released.

Frias also referred to a proposal by the Trump Administration to give a joint task force the ability to identify and release lands in the state for development, but said that the process involved can be very convoluted and slow; as a result, she’s hoping for an act of Congress – in addition to the continued efforts of local government – to streamline and speed-up things.

We need to recognize there’s an elephant in the room and that’s the land constraints,” Frias said. “That’s going to take coming together at the federal level and working collaboratively with our delegation. That will take continued leadership from the governor’s office and local government will play a key role in that as well.”

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

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

www.shelterrealty.com

LAS VEGAS, NV – A group of short-term rental owners in Las Vegas have filed a federal lawsuit against both Clark County and the state of Nevada, claiming that restrictions imposed by both entities upon the rental owners in Southern Nevada are unconstitutionally violating their rights.

The lawsuit, filed in U.S. District Court in Nevada by the Greater Las Vegas Short-Term Rental Association (GLVSTRA) and several of its members, is seeking an injunction to block the county and state from enforcing short-term rental rules originally put into effect in September 2022, with only a handful of permits issued since then and a huge backlog still pending.

For many years, we have been attempting to work with our local and state politicians to come up with regulations that are fair for homeowners so that they can make ends meet. Every time that we have tried, they have made matters worse,” said GLVSTRA founder Jacqueline Flores. “As many people know, resort hotels are a powerful industry in this state and in the city and many [lawmakers] are beholden to the resort. hotel industry and they are the ones that are attacking property owners.”

The lawsuit – which Airbnb is reportedly expected to join – alleges that plaintiffs’ Third, Fourth, Fifth and 14th Amendment rights, as well as several sections of the Nevada Constitution, are being violated by residents being prevented from exercising their rights to lease their properties, depriving them of their livelihoods. The county’s extraordinarily slow process of issuing permits to renters – in addition to numerous burdensome regulations – is also a bone of contention named in the lawsuit as well.

Assembly Bill 363 was signed into law by the Nevada legislature in 2021, requiring municipalities to draw up regulations governing the short -term rental industries within their borders.

After approving a short-term rental ordinance in June 2022, Clark County had started a pre-application process for short term rentals in September 2022, with the deadline for submission having been August 2023. 1,169 of the pre-applications they received were deemed eligible and the homeowners that submitted them were subsequently allowed to submit a short-term rental license application.

However, the process of approving these applications has been a slow and arduous one that has found itself ensnared in red tape; as of today, a mere 175 licenses have been approved and 141 denied; 515 are still pending, drawing the ire of homeowners who say they are losing money every day they are forced to wait.

As a result, many homeowners are operating rentals with Clark County illegally; at current count, there are approximately 10,000 short-term rentals currently operating in Las Vegas, with the majority of them doing so without the benefit of a license.

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

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

www.shelterrealty.com

LAS VEGAS, NV – Tides on Commerce, a 336-unit apartment complex located in North Las Vegas, was purchased by a real estate investment firm late last week for the sum of $70 million, according to Clark County property records.

Beverly Hills, California-based Kennedy Wilson announced the purchase on Friday, which was part of a combined acquisition that included a separate property located outside of Nevada state – Finisterra, a 356-unit complex in Tempe, Arizona – for a total combined amount of $166 million.

Tides on Commerce, located at 4249 North Commerce Street, between Alexander and Craig Roads, was originally built in 1999 and includes a plethora of common-area amenities for its tenants, including a swimming pool, spa, hot tub, playground, clubhouse, business center, fitness center and controlled access.

The apartment complex is also ideally situated near major job hubs in North Las Vegas, such as Apex Industrial Park, VA Southern Nevada Hospital, and an increasingly large number of medical and logistics facilities.

North Las Vegas itself is on a major upswing recently, with experts anticipating its growth to double that of the larger Las Vegas region – becoming the fastest-growing city in the state of Nevada – over the course of the next five years; prior to that statistic, the city was the state’s second-fastest growing from the years of 2020 to 2023, thanks to rapid expansion of its healthcare and industrial fields.

Kennedy Wilson said that they are also serving as the asset manager of the Nevada and Arizonia properties they purchased last week, with the real estate investing firm owning approximately a 14 percent interest in the fund acquiring the two assets.

The company currently boasts a portfolio of over $29 billion in assets that they manage – comprised primarily of rental properties – spread out among the United States, the United Kingdon, and Ireland.

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

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

www.shelterrealty.com

LAS VEGAS, NV – Artificial intelligence (AI) has become a part of life for many people, with the technology having rapidly evolved and implemented into many jobs and industries throughout the world. Experts predict that this trend will continue, with AI soon becoming intertwined with a plethora of everyday tasks and careers…including real estate.

The real estate industry has seen the adoption of AI, which has contributed to an increase in efficiency and innovation in the field; however, like anything, there is also the potential for misuse and the harm that comes along with it, and several countries around the world – Australia, being the prime example – are now pushing for regulation of the tech’s use when it comes to real estate advertising. That being said, should the U.S. follow suit?

AI is being used generate and automate listings, anticipate buyer and seller preferences, and – with the vast amounts of data that algorithms can analyze – offer personalized property suggestions for target demographics, based on specific individual preferences. Plus, the tech enables AI-driven chatbots to offer 24/7 availability to engage with buyers at all hours of the day or night, providing help and engagement in order to help retain interest.

But while there are many positive uses of AI when it comes to real estate, there are just as many drawbacks and shortcomings as well that are raising calls for its regulation due to potential misuse that can mislead consumers.

AI algorithms that are not properly regulated can result in fabricated listings with altered images and information that can present properties in unrealistic lights. Also, there’s a lack of transparency and clear accountability in terms of AI-generated content; when AI presents misinformation or crosses ethical boundaries, what party should be held responsible?

Issues like this could eventually erode trust in online real estate platforms and even the industry as a whole if they were to run amok unchecked. Hence, certain countries are being proactive in their attempts to regulate them to prevent that from happening and to ensure consumer transparency by establishing clear guidelines, accountability protocols, and ongoing monitoring.

That being said, there are a growing number of voices that are calling for similar oversight of AI here in the U.S. as well; both the real estate industry and those who depend upon it stand to benefit.

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

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

www.shelterrealty.com

LAS VEGAS, NV – A massive “megamansion” located in one of Las Vegas’ most affluent communities and bosting a plethora of lavish perks has sold this week for over $15 million.

Located in the guard-gated community of Southern Highlands on a 1.36-acre plot of land, the estate in question sold for $15.5 million – a significant discount from its original $19.75 million asking price – and comes in at a whopping 18,000 square-feet of living space.

The home – which has a Mediterranean-style design outside with a tiled roof and columned entryway, but an ultra-modern interior – has eight bedrooms, a grand entry with an imperial staircase and an oculus skylight above the foyer, and an entire floor solely for entertaining guests, including a series of inter-connected pools.

A covered patio in the backyard leads to an outdoor recreation area, with starts with a circular artificial river with an actual flowing current – commonly known as a lazy river – that allows continuous relaxing trips floating around the property. Adjacent to the lazy river is a waterfall that leads down one level to a waterslide and pool, as well as a putting green, a pickleball court, a guest casita and a six-car garage.

The interior is no less impressive, with a primary suite – which has its own massage room and two closets – and two accessory bedrooms taking up the top floor. There is also a full-scale salon, a karaoke room, a cinema room, and a game room with a full bar and lounge.

The seller, Bill Piercey of California, originally purchased the property for $7.75 million while it was still in the midst of being built in 2020; he initially listed the property for sale in 2023 for $25 million and later dropped it to $19.75 million in February 2025 before settling on $15.5 million with an undisclosed buyer.

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

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

www.shelterrealty.com

LAS VEGAS, NV – Ovation Development Corp., a Las Vegas-based apartment developer, has announced they will be holding the grand opening ceremony next week for their newest project, an affordable senior housing complex located in the southern Las Vegas Valley.

Heirloom at Pebble is a 195-unit 55-and-over apartment building situated at 2325 East Torino Avenue, near the intersection of Eastern Avenue and Pebble Road. The complex, which originally held a soft opening in May, offers apartment units with one and two-bedroom layouts, with monthly rent prices ranging from $573 to $1,377, which includes all utilities.

The project, which cost approximately $48 million, was funded in conjunction with several governmental and private business entities, including Clark County, the Nevada Housing Division, and the Federal Home Loan Bank of San Francisco. In addition, the land upon which Heirloom at Pebble sits was contributed by the federal Bureau of Land Management.

Heirloom at Pebble offers numerous amenities aimed at the health and well-being of its’ senior clientele, including a fitness center and movement room, community events, on-site hair salon and multipurpose rooms.

The apartment complex aims to help address one of the most prevailing problems affecting Las Vegas’ senior population, which is the high cost of housing, according to Ovation’s Director of Development, Armen Hadjimanoukian.

To that end, Hadjimanoukian noted that the developer is also currently hard at work on several other affordable senior housing communities in Southern Nevada, another one of which will be opening this summer.

The housing prices have really been affecting everyone in Southern Nevada — especially seniors, who are on fixed incomes,” he said. “These types of public-private partnerships are amazing because they allow us to create and provide much-needed housing. Ovation has another six communities planned or under construction – with another one opening up in August of this year.”

Heirloom-at-Pebble is now leasing: https://ovationco.com/heirloom-at-pebble/

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

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

www.shelterrealty.com