Waterton and The NRP Group Announce Pioneering 368-Unit Luxury Rental Venture in Las Vegas
In a significant move for the Multifamily Apartment Industry, Waterton has joined forces with The NRP Group to embark on an ambitious 368-unit luxury rental community on South Las Vegas Boulevard. This development underscores the potential for innovative partnership in addressing the need for luxury rental options in sunbelt markets. The choice of Las Vegas for this project is strategic, tapping into a market where the demand for rentals continues to rise and where homeownership costs remain significantly higher.
The forthcoming luxury rental community promises a blend of style and convenience with two four-story elevator-serviced multifamily buildings. The variety of floorplans including studio, one-, two-, and three-bedroom layouts, along with a den option for select one-bedrooms, suggests a versatility that caters to a range of tenant needs. In keeping with the luxury promise, each residence will be adorned with high-quality finishes like quartz countertops, subway tile backsplashes, and stainless-steel appliances, all complemented by the stylish yet practical luxury vinyl plank flooring.
However, it’s the externally focussed amenities that command attention. The investment in an outdoor pool, courtyards, and seating with fire pits addresses the desire for community engagement and outdoor activities. And within its walls, tenants will find co-working spaces and a club lounge – acknowledging the balance modern residents seek between leisure and productivity.
Senior Vice President of Development at Waterton, Kristi Nootens, highlighted the broader implications of the project, “We’re excited to be partnering with such an experienced development firm to bring this project to life and further our development strategy. This project offers an excellent opportunity to create a luxury rental community in a sunbelt market with relatively limited supply compared to similar markets.”
The location of this development offers strategic access to employment centers such as the Haas Automation headquarters and the Las Vegas Raiders practice facility, signaling that the community is not just a residential retreat but also a supportive habitat for career-oriented individuals.
As we witness the progression of this large-scale development project, the partnership’s vision is clear—deliver a community that epitomizes the convergence of luxury living and career accessibility in one of the fastest-growing regions of the country.
Delivery of the first residences is marked for mid-year 2027, with the project reaching completion in early 2028. This initiative stands as a significant step not only for Waterton and The NRP Group but also for the South Enterprise residents and the Multifamily Apartment Industry at large. It reflects a shared commitment to elevate the standards of multifamily housing and to meet the evolving demands of the marketplace with innovation and insights garnered from experienced industry leaders.