Luxury 754-Unit Property Opens in Las Vegas
WTI Inc. broke ground on the project in August 2020.
ARIVA Luxury Residences, a 754-unit luxury multifamily community, has opened in Las Vegas. WTI Inc. broke ground on the project in August 2020, financing its construction with a $92.5 million loan from Western Alliance Bank, according to Yardi Matrix data. Cushman & Wakefield is providing management services.
The community encompasses nine buildings comprising one-, two- and three-bedroom units along with two penthouse layouts, all ranging from 716 to 3,406 square feet. Apartments feature keyless entry locks, in-unit washers and dryers, smart thermostats, as well as private balconies or patios for select floorplans. Resident amenities include four swimming pools, nine resident lounges, two spas, a clubhouse, a fitness center, multiple sport courts and 1,322 parking spaces.
Located at 11055 Las Vegas Blvd. S., the 30.8-acre property is near Interstate 15 and roughly 16 miles south of downtown Las Vegas. The community some 9 miles from the Harry Reid International Airport.
Since the beginning of the year, seven multifamily properties totaling 1,796 units have broken ground in Las Vegas, Yardi Matrix data shows. As the metro continues to attract in-migration from states such as California, supply is struggling to keep up with demand.