- Home
- >>Business
- >>Housing
Housing
Location of the land that will have 3,000 homes built on it. (Wes Rand/Las Vegas Review-Journal)
Construction is underway for a new housing development in the northwest portion of Las Vegas near Centennial Parkway and Avery Landing Street, on Friday, June 14, 2024. Olympia Companies purchased the desert land, top of the picture, for $55 million to build 3,000 homes. (Bizuayehu Tesfaye Las Vegas Review-Journal @bizutesfaye
Construction is underway for a new housing development in the northwest portion of Las Vegas near Centennial Parkway and Avery Landing Street, on Friday, June 14, 2024. Olympia Companies purchased the desert land, top of the picture, for $55 million to build 3,000 homes. (Bizuayehu Tesfaye Las Vegas Review-Journal @bizutesfaye
Construction is underway for a new housing development in the northwest portion of Las Vegas near Centennial Parkway and Avery Landing Street, on Friday, June 14, 2024. Olympia Companies purchased the desert land, top right, for $55 million to build 3,000 homes. (Bizuayehu Tesfaye Las Vegas Review-Journal @bizutesfaye
American West Homes founder Larry Canarelli at his Las Vegas offices Friday, April 26, 2019. Canarelli has teamed up to form new investment firm Capro Capital. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
The land will feature access to Red Rock Canyon and upwards of 3,000 homes. (Photo: Olympia Companies)
Garry Goett, CEO and chairman of Olympia Companies, which is the developer of the Skye Canyon master planned community, speaks during the groundbreaking ceremony in northwest Las Vegas, near U.S. Highway 95 and Horse Road, on Thursday, June 5, 2014. (Chase Stevens/Las Vegas Review-Journal)
More Stories
ByPatrick Blennerhassett/Las Vegas Review-Journal
June 13, 2024 - 3:47 pm
Updated June 13, 2024 - 4:57 pm
A master-planned community with more than 3,000 homes is slated for 505 acres of former federal land in the northwest Las Vegas Valley.
Olympia Companies purchased the desert land — located several miles west of Centennial Hills Hospital and near the 215 Beltway — for $55 million in a November Bureau of Land Management auction.
Construction on the first homes are expected to start by the end of 2026 and the entire project should be completed within eight years of the start date, Olympia Companies said.
Olympia Companies Executive Vice President Chris Armstrong said the company was the only bidder for the land. The company nominated the land for sale through the BLM’s Southern Nevada Public Lands Management Act.
The community will include some commercial projects to complement what’s already in the area, he said.
“There is a tremendous burden of infrastructure costs to service the property including water, power, roadways and other utilities,” Armstrong said. “This is a situation where growth is paying for growth as the developer is responsible for the costs.”
Olympia, which is run by Garry Goett and Guy Inzalaco, is spearheading the project with partner Larry Canarelli. Olympia has developed more than 8,500 homes in Southern Highlands, including the Southern Highlands Golf and Country Club, along with the communities of Skye Canyon and Skye Hills.
“The project will predominantly provide housing that is similar in nature to Skye Canyon and the surrounding neighborhoods, and will include a broad product segmentation including entry level, first move up to executive level homes,” Armstrong said. “There will be an extensive trail network with connectivity to a series of primary and secondary parks, and a perimeter trail that also provides a buffer and transition zone to the neighboring Red Rock National Conservation Area.”
Olympia will also be partnering with Las Vegas and the BLM to design and build a park that will act as a gateway to recreational opportunities within Red Rock’s conservation area.
Las Vegas finds itself in the middle of a housing crunch as industry experts on both the commercial and residential side and various politicians have called for the federal government to release more land for development within Clark County to alleviate upward pressure on prices.
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.
MOST READ
'; html += '
'; html += '
'; html += ''; html += 'READ MORE'; html += 'LIVE WELL'; html += ''; html += ''; html += ''; html += ''; html += ''; html += 'STORIES LIKE THIS'; html += 'CLICK HERE FOR MORE'; html += ''; html += ''; html += '
'; html += '
'; $('.nlsm-small').addClass('livewell').html(html); return; } if ($('.rj-story-sponsored-full').length>0) { return; } if ($('.rj-story-full').hasClass('tag-2023-year-in-review')) { html = ''; html += '
'; html += '
'; html += '2023 YEAR IN REVIEW'; html += 'CLICK HERE FOR MORE'; html += ''; html += '
'; $('.nlsm-small').addClass('2023-year-in-review').html(html); return; } if ($('.rj-story-full').hasClass('tag-msg-sphere')) { html = ''; html += '
'; html += ''; html += ''; html += ''; html += '
'; $('.nlsm-small').addClass('tag-msg-sphere').html(html); return; } if ($('.rj-story-full').hasClass('tag-jeff-german-murder') || $('.rj-story-full').hasClass('tag-remembering-jeff-german')) { html = ''; html += '
'; html += ''; html += ''; html += ''; html += '
'; $('.nlsm-small').addClass('jeff_german').html(html); return; } if ($('.rj-story-full').hasClass('tag-911-anniversary')) { html = ''; html += '
'; html += '
'; html += 'REMEMBERING 9/11: 20 YEARS LATER'; html += 'Looking back at the 2001 terror attacks and how they affected Las Vegas and the world.'; html += 'Read more'; html += ''; html += '
'; $('.nlsm-small').addClass('anniversary-911').html(html); return; } if ($('.rj-story-full').hasClass('tag-class-of-2021')) { html = ''; html += '
'; html += '
'; html += 'MEET THE UNFORGETTABLE CLASS'; html += ''; html += ''; html += ''; html += ''; html += '2021'; html += ''; html += ''; html += ''; html += ''; html += ''; html += '
'; $('.nlsm-small').addClass('class-2021').html(html); return; } if ($('.rj-story-full').hasClass('tag-2022-election')) { html = ''; html += '
'; html += '
'; html += '
'; html += 'ELECTION 2022'; html += 'Read more'; html += ''; html += '
'; html += '
'; html += '
'; html += '
'; html += 'ELECTION RESULTS'; html += 'Click here'; html += ''; html += '
'; html += '
'; $('.nlsm-small').addClass('election-2022').html(html); return; } if ($('.rj-story-full').hasClass('tag-harry-reid-1939-2021')) { html = ''; html += '
'; html += '
'; html += ''; html += 'Harry Reid(1939-2021)'; html += ''; html += ''; html += ''; html += ''; html += ''; html += 'Senate leader and Nevada political titan'; html += 'Read more'; html += ''; html += ''; html += '
'; $('.nlsm-small').addClass('harry-reid').html(html); return; } if ($('.rj-story-full').hasClass('tag-henry-ruggs')) { html = ''; html += '
'; html += '
'; html += ''; html += 'HENRY RUGGSDEADLY CRASH'; html += ''; html += ''; html += ''; html += ''; html += ''; html += 'CLICK FOR MORE'; html += ''; html += ''; html += '
'; $('.nlsm-small').addClass('henry-ruggs').html(html); return; } if ($('.rj-story-full').hasClass('category-homicides')) { html = ''; html += '
'; html += '
'; html += '
'; html += ''; html += 'HOMICIDE'; html += 'A STORY BEHIND EVERY NAME'; html += ''; html += ''; html += ''; html += ''; html += ''; html += 'TRACKER'; html += 'CLICK HERE FOR MORE'; html += ''; html += ''; html += '
'; html += '
'; $('.nlsm-small').addClass('homicides').html(html); return; } if ($('.rj-story-full').hasClass('tag-sheldon-adelson')) { html = ''; html += '
'; html += '
'; html += ''; html += 'Sheldon Adelson(1933-2021)'; html += ''; html += ''; html += ''; html += ''; html += ''; html += 'Las Vegas visionary and Philanthropist.'; html += 'Read more'; html += ''; html += ''; html += '
'; $('.nlsm-small').addClass('sheldon-adelson').html(html); return; } if ($('.rj-story-full').hasClass('tag-tony-hsieh')) { html = ''; html += '
'; html += '
'; html += ''; html += 'Tony Hsieh(1973-2020)'; html += ''; html += ''; html += ''; html += ''; html += ''; html += 'Ex-Zappos and Downtown Project CEO left a lasting impression on Las Vegas.'; html += 'Read more'; html += ''; html += ''; html += '
'; $('.nlsm-small').addClass('tony-hsieh').html(html); return; } if ($('.rj-story-full').hasClass('tag-vegas-weekend')) { //vegas-reawakening html = ''; html += '
'; html += '
'; html += 'VEGAS REAWAKENING'; html += 'A year after the pandemic began, the first weekend of spring showed a perfect storm of promise for Las Vegas’ recovery and brought optimism that visitors would indeed return to the city'; html += 'Read more'; html += ''; html += '
'; $('.nlsm-small').addClass('vegas-reawakening').html(html); return; } //add newsletters embed var default_category_to_show = ['News', 'Local', 'Life', 'Crime']; var newsletter_1st_lv = []; newsletter_1st_lv['default'] = {'id':'starting_point,pm_update', 'track_name':'StartingPoint', 'title':'LOCAL NEWS YOUR WAY', 'subtitle':'Sign up for our free daily Morning and Afternoon Update newsletters.'}; newsletter_1st_lv['Sports'] = {'id':'sports', 'track_name':'Sports', 'title':'SPORTS NEWS YOUR WAY', 'subtitle':'Sign up for our free daily Sports Update newsletter.'}; newsletter_1st_lv['Business'] = {'id':'business', 'track_name':'Business', 'title':'BUSINESS NEWS YOUR WAY', 'subtitle':'Sign up for our free Business Update newsletter.'}; newsletter_1st_lv['Entertainment'] = {'id':'','alert_id':'entertainment', 'track_name':'Entertainment', 'title':'WANT THE LATEST ON LAS VEGAS ENTERTAINMENT?', 'subtitle':'Sign up for free entertainment email alerts'}; //newsletter_1st_lv['Nevada Preps'] = {'id':'nevada_preps', 'title':'HIGH SCHOOL SPORTS YOUR WAY', 'subtitle':'Stay up to date with our free Nevada Preps newsletter.'}; //newsletter_1st_lv['Investigations'] = {'id':'rj_investigates', 'title':'INVESTIGATIVE NEWS YOUR WAY', 'subtitle':'Sign up for our free RJ Investigates newsletter.'}; var cat_has_subcat = ['News','Business','Entertainment','Sports', 'Opinion']; var newsletter_2nd_lv = []; newsletter_2nd_lv['Politics and Government'] = {'id':'','alert_id':'political', 'track_name':'Political', 'title':'LOCAL, REGIONAL AND NATIONAL POLITICS COVERAGE', 'subtitle':'
Sign up for our free RJ politics email alerts.
'}; //newsletter_2nd_lv['Politics and Government'] = {'id':'political', 'title':'ELECTION 2020: BE INFORMED', 'subtitle':'
FULL COVERAGE | ELECTION RESULTS
Sign up for our free RJ Politics newsletter.
'}; //newsletter_2nd_lv['Debra J. Saunders'] = {'id':'44', 'title':'YOUR WEEKLY POLITICAL FIX', 'subtitle':'Sign up for our free DC-LV newsletter with political stories from the swamp to the Strip.'}; //newsletter_2nd_lv['CES 2021'] = {'id':'ces', 'title':'CES 2021: STAY IN THE KNOW', 'subtitle':'
The Review-Journal is a media partner with the CTA. Click here for full coverage and live video from CES 2021
Sign up for our free newsletter below.'}; //newsletter_2nd_lv['TV'] = {'id':'tv_briefing', 'title':'GET YOUR TV LISTINGS', 'subtitle':'Your Weekly TV Briefing.'}; //newsletter_2nd_lv['UNLV'] = {'id':'unlv_rebel_news', 'title':'UNLV SPORTS YOUR WAY', 'subtitle':'Stay up to date on the Rebels with our free newsletter.'}; newsletter_2nd_lv['Rodeo'] = {'id':'rodeo_nfr', 'track_name':'RodeoNFR', 'title':'RODEO NEWS YOUR WAY', 'subtitle':'Don\'t miss any of the action! Click here for full NFR coverage or Sign up for our free newsletter below'}; newsletter_2nd_lv['Raiders News'] = {'id':'vegasnation', 'track_name':'VegasNation', 'title':'WANT EVEN MORE RAIDERS NEWS?', 'subtitle':'Sign up for our free Vegas Nation newsletter.'}; newsletter_2nd_lv['Golden Knights'] = {'id':'','alert_id':'golden_knights', 'track_name':'GoldenKnights', 'title':'WANT MORE KNIGHTS IN YOUR DAY?', 'subtitle':'Sign up for free Golden Knights email alerts for all the latest updates'}; var main_cat = ''; var m_hierarchy = []; var m_cat = []; var m_hl_cat = ''; if (window.dataLayer[0].metrics) { main_cat = window.dataLayer[0].metrics.section; //National Finals Rodeo m_hierarchy = window.dataLayer[0].metrics.hierarchy.split(' | '); //"Sports | Rodeo | National Finals Rodeo" m_cat = window.dataLayer[0].metrics.categories; //["National Finals Rodeo","Rodeo","Sports"] m_hl_cat = window.dataLayer[0].metrics['hl-category']; //Sports } var i, k, found, newsletter; newsletter = false; found = false; if (default_category_to_show.includes(m_hl_cat)) { newsletter = newsletter_1st_lv['default']; } if (newsletter_1st_lv.hasOwnProperty(m_hl_cat)) { newsletter = newsletter_1st_lv[m_hl_cat]; } // check main category if (newsletter_2nd_lv.hasOwnProperty(main_cat)) { found = true; newsletter = newsletter_2nd_lv[main_cat]; } if (!found) { // check in hierarchy (main category hierarchy) i = m_hierarchy.length; while (!found && i >= 0) { i--; if (i > 0) { if (newsletter_2nd_lv.hasOwnProperty(m_hierarchy[i])) { found = true; newsletter = newsletter_2nd_lv[m_hierarchy[i]]; } } else { // i=0, check first level if (newsletter_1st_lv.hasOwnProperty(m_hierarchy[i])) { found = true; newsletter = newsletter_1st_lv[m_hierarchy[i]]; } } } } if (!found) { // check in category i = m_cat.length; while (!found && i > 0 && cat_has_subcat.includes(m_hl_cat)) { i--; if (newsletter_2nd_lv.hasOwnProperty(m_cat[i])) { found = true; newsletter = newsletter_2nd_lv[m_cat[i]]; } } } if (newsletter !== false && !$('.rj-story-full').hasClass('tag-hide-newsletter') && !$('.rj-story-full').hasClass(' rj-story-sponsored-full')) { var alert_id = ''; if (newsletter.alert_id) { alert_id = newsletter.alert_id; } html = ''; html += '
'; html += '
'; html += '
'+newsletter.title+'
'; html += '
'+newsletter.subtitle+'
'; html += '
'; html += '
'; html += '
'; html += 'By signing up you agree to our Privacy Policy and '; html += 'Terms of Service. Unsubscribe at any time.'; html += '
'; html += '
'; html += 'This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.'; html += '
'; html += '
'; $('.nlsm-small').html(html); } //});})(jQuery);
Don't miss the big stories. Like us on Facebook.
THE LATEST
Stay at an ‘Inside Out 2’-themed Airbnb in Las Vegas — PHOTOS
ByAnnie Vong/RJ
The house was constructed in 24 hours and is offered for free to families this summer.
Is Las Vegas a buyer’s or seller’s market for home sales?
ByPatrick Blennerhassett/RJ
Latest Zillow marker report shows where Las Vegas ranks with other major metros in terms of the residential market temperature.
New Southern Nevada homes now make up 25% of sales as builders offer incentives
ByPatrick Blennerhassett/RJ
Some major homebuilders are offering 2-to-1 mortgage packages to entice buyers as mortgage rates hover around 7 percent.
This $5.9M deal will bring more new homes to North Las Vegas
BySean Hemmersmeier/RJ
The Church of Jesus Christ of Latter-day Saints has sold a parcel of land in North Las Vegas to one of the largest homebuilders in the United States.
How soon could Las Vegas Valley run out of land for new homes?
ByPatrick Blennerhassett/RJ
Las Vegas homebuilding industry leaders are backing an effort to make more land available to improve the balance between housing supply and demand.
‘Demand continues to outpace supply’: Valley home sale prices still rising
ByPatrick Blennerhassett/RJ
Multiple Listing Service statistics for the valley show the median list price for a single-family home crossed a significant benchmark again.
Where do the richest people in Las Vegas live?
ByPatrick Blennerhassett/RJ
A new report from Colliers says a new community has emerged as the top income earning spot in the Las Vegas Valley.
Some of California’s most outdoorsy people are moving to Las Vegas. Here’s why.
Jack Dolan Los Angeles Times
What sets Vegas apart is the unexpected geographic diversity, making world-class climbing easily accessible year-round.
Crushing cost: Las Vegas residents spending too much on rent, study says
ByPatrick Blennerhassett/RJ
The UNLV study looked at rental cost burdens and discovered the Las Vegas metro area and Nevada have some of the highest costs in the entire country.
Why Gen Z isn’t buying homes in Las Vegas
ByPatrick Blennerhassett/RJ
Las Vegas is going against the grain when it comes to Gen Z and younger millennials diving into the U.S. housing market.
MORE STORIES
'; html += '
' html += '
'+d['title']+'
'; html += '
'; $('.rjp-related .base-'+base+' .field-story').append(html); } }});})(jQuery);
