New $133 million Class-A development to serve as NRP’s Las Vegas flagship, offering premium amenities and unmatched walkability in one of the nation’s fastest-growing cities

The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, today announced the financial closing and groundbreaking of a $133 million, 390-unit luxury residential community in Las Vegas, developed in partnership with Haseko North America, the U.S. subsidiary of Japan’s largest condominium construction firm. Located at the northeast corner of West Maule Ave. and Gagnier Blvd., the site is directly across from the Durango Casino & Resort and adjacent to The UnCommons, a premier mixed-use destination featuring upscale apartments, retail, dining and Class-A office space.

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Credit Caleb Schafer

This marks The NRP Group’s third groundbreaking in Las Vegas this year, underscoring the firm’s strategic expansion into one of the fastest-growing cities in the U.S. The firm’s rapid expansion reflects strong confidence in the region’s long-term rental housing market, driven by robust job growth and sustained year-over-year in-migration patterns.

“This development is a premier example of NRP’s market-rate luxury portfolio,” said The NRP Group Vice President of Development Mike Moriarty. “Its proximity to the Durango Casino and The UnCommons, combined with true walkability outside the Strip, makes it a rare and highly desirable location. From the luxury finishes to the thoughtfully curated amenities, this community will serve as our flagship in Las Vegas and set a new standard for upscale living in the region.”

Located in the Spring Valley submarket along I-215, the community offers convenient access to major employment hubs and some of the largest companies in Las Vegas, including DraftKings, EY, BDO, Berkadia, CBRE, Morgan Stanley, Newmark, Sotheby’s and Deloitte. Residents will be just a 10-minute drive from the Las Vegas Strip and 12 minutes from Harry Reid International Airport.

The four-story, single-building development will comprise a mix of studio, one-, two-, and three-bedroom residences designed for premium comfort and flexibility. Each home will include high-end finishes such as stainless steel appliances, quartz countertops, designer cabinetry, wood-style flooring, and in-unit washers and dryers.

Residents will enjoy a suite of resort-style amenities, including a swimming pool, two landscaped courtyards, a 24-hour fitness center, indoor bicycle storage with a repair station, an indoor pet wash and a 575-space parking garage. The property’s clubhouse will offer a community kitchen, coffee station, pool table, and a multi-sport simulator. The building’s design emphasizes warm tones and a sophisticated, modern aesthetic to promote wellness, walkability and connection.

“Our partnership with The NRP Group reflects Haseko’s commitment to aligning with best-in-class developers who share our vision for creating transformative communities,” said Haseko North America President and Chairman Kain Matsumoto. “This project is a strategic milestone for us, combining thoughtful design, walkable urban planning and long-term value creation in one of the most dynamic housing markets in the country. We’re proud to collaborate on what will become a flagship destination for luxury living in Las Vegas.”

“The location of this community is truly exceptional, offering walkable access to entertainment, dining and employment in a way that’s rare outside the Las Vegas Strip,” said Laurie Mathers, Haseko North America Head of Investment and Asset Management. “With nearby lifestyle and entertainment destinations just steps away, residents will enjoy a blend of convenience, sophistication, and connectivity within their new homes. This development is a perfect example of how smart site selection and elevated design can redefine urban living.”

Las Vegas remains a priority market for The NRP Group. The firm recently broke ground on North & Valley, a 105-unit affordable housing community in North Las Vegas, and Miraluna, a Class-A, 342-unit apartment located near the Southern Highlands Master-Planned Community. By year-end, nearly 1,200 units across four developments in the Las Vegas market will be under construction. The NRP Group has developed more than 62,000 apartment homes since 1994, and currently manages over 30,000 residential units across the U.S.

The NRP Group broke ground on the new residential housing development this month, with completion scheduled for Q3 2027.

About The NRP Group

The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 62,000 apartment homes and currently manages over 30,000 residential units.

Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing.

The NRP Group has been consistently named a largest developer and builder in the U.S. on the NMHC “Top 50” lists, the Top 5 on the Multi-Housing News’ “Top Multifamily Developers” list, named a Top Affordable Housing Developer by Affordable Housing Finance, and has won three NAHB Pillar awards since 2020 for Development, Construction and Ones to Watch. The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on over 30 years of experience and expertise, NRP provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.

About Haseko North America

Based in Irvine, California, Haseko North America is a wholly owned subsidiary of the Haseko Corporation, the largest vertically residential construction firm in Japan. Founded in 1937 and listed on the 1st Sections of Tokyo Stock Exchange in 1965, Haseko has built over 700,000 condos, maintaining a market-leading position for over 50 years. The firm reported annual revenues of $7.87bn, with total assets of $9.13bn in its most recent annual filings.

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