Big residential development may be coming to south Las Vegas
A massive residential development in south Las Vegas looks to be in the works.
New York-based real estate investment firm JEN Partners recently purchased 54 acres of undeveloped residential-zoned land just west of the Southern Highlands community within the unincorporated township of Enterprise for $33.5 million, Clark County property records show.
The company has funded single-family residential developments in such places as Florida, Arizona and Texas.
JEN Partners did not return a request for comment from the Las Vegas Review-Journal. Its website notes the company focuses on “residential land and real estate opportunities” and has over 150 active or fully realized residential real estate transactions across the U.S. No Nevada projects are listed.
The land was previously owned by the Southern Highlands Investment Partners, and it also did not return a request for comment concerning the sale.
Enterprise is one of the fastest-growing areas in the entire country, as the unincorporated township is seeing a building boom led by commercial real estate, multifamily and apartment construction, along with single-family residential developments.
Most of south Las Vegas has seen a boom in residential and commercial development, as interest in the area grows given its proximity to the Brightline high-speed rail station and a planned casino-resort and NBA-ready arena along the southernmost area of Las Vegas Boulevard.
The entire valley is dealing with a chronic lack of supply of housing, and the Bureau of Land Management still owns the vast majority of land in Clark County at 89 percent.
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.