Rockefeller, NRP Kick Off Las Vegas Project
Silverado marks Rockefeller’s first multifamily project in Nevada.
The NRP Group and Rockefeller Group have broken ground on Silverado, a Class A, 342-unit development in Enterprise, Nev. Completion is expected in early 2027.
This project marks NRP’s first foray in the Las Vegas metro and Rockefeller’s first multifamily project in Nevada.
Perlman Architects provided design services. Once complete, Silverado will encompass 15 three-story buildings including one- to three-bedroom units. The community is slated to feature a swimming pool, sports court, as well as a clubhouse comprising a social lounge, gym and coworking spaces, among others.
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Silverado will stretch across a 13-acre site within 10 miles of the Las Vegas Strip, Harry Reid International Airport and Allegiant Stadium. Over the next two years, there are no other Class A projects to be delivered within a 3-mile radius, Michael Moriarty, vice president at The NRP Group, said in a prepared statement.
The Rockefeller Group has delivered some 3,000 units across the nation and its pipeline holds another 2,000 apartments underway. Before expanding to Nevada, the company wrapped up construction on a community in the neighboring state of Arizona. Partnering with Liv Communities, Rockefeller opened Sol38, a 360-unit property in Laveen, Ariz., about 10 miles from downtown Phoenix.
Vegas’ resilient multifamily pipeline
Greater Las Vegas’ pipeline held more than 9,500 units under construction as of December, according to Yardi Matrix data. The pipeline thinned out, as the figure from a year ago was 16.5 percent higher with the under-construction apartment count north of 11,400.
Developers broke ground on more than 3,200 units in the metro during the first 11 months of the year, the same source shows. During the same period of last year, work began on roughly 2,800 apartments in Greater Las Vegas.
A joint venture between CEDARst Cos. and Bridge Investment Group broke ground on Flats Arts District, a 311-unit, $112 million project in Las Vegas’ Arts District. The first apartments will be delivered halfway through 2026.
