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First New Development in Las Vegas Since 2007 to Break Ground

IMG_2275The valley may soon be bustling with activity again, relatively speaking. Vegas, Inc. is reporting that the first new major development in the Las Vegas Valley since 2007 is looking to break ground.

Developers of the Southern Highlands master-planned community are launching another large residential project in Las Vegas.

The Olympia Cos. said today it is planning a 1,700-acre community in the northwest corner of the valley, between Grand Teton Drive and U.S. 95.

This property was part of the last large piece of land auctioned by the BLM. It is a good sign that developers are looking to start moving dirt on this land.

Housing construction appears to be recovering and commercial construction is beginning to pick up as well. While we’re still far from the days of the early-2000s boom, this activity bodes well for the industry and for the economy.

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