realestate

Should Las Vegas Build Up Instead of Decline?

Las Vegas real estate leaders say more high‑rise homes could ease the housing crisis and development hurdles.

A
s the Las Vegas Valley’s available acreage dwindles, a growing group of developers and stakeholders is urging the region to shift from horizontal sprawl to vertical expansion.

    Real‑estate broker Brian Nugent of IS Luxury argues that high‑rise condos can ease the city’s affordability crisis while accommodating its expanding population and economy. “With less land for detached homes, high‑rises become increasingly attractive,” he says, adding that the demand for vertical housing will rise as single‑family lots become scarce.

    The valley’s land shortage stems largely from federal control over most remaining parcels, which has slowed private development. Nugent calls for creative solutions from both public and private sectors to keep pace with daily population growth. A recent Applied Analysis study projects that the valley could exhaust developable land by 2032, a warning Nugent believes should spur immediate action. “Developers used to buy plots easily, but as those parcels are consumed, the logical next step is to go vertical,” he notes.

    Vertical development presents its own hurdles. Cultural resistance to condo living, transportation strain, increased density, and county building‑code limits beyond three stories add costs and complexity. Nugent envisions high‑rise clusters across Summerlin, the southwest valley, and Henderson.

    Southern Land Company is spearheading several projects in Symphony Park—a master‑planned community on the former Union Pacific railyard—where multiple high‑rises are already under construction. CEO Tim Downey sees densification as a sound strategy, noting that residents are becoming more receptive to apartments and condos. “High‑rises offer great amenities, views, and can revitalize neighborhoods,” Downey says, but stresses that each city’s unique circumstances must guide housing solutions. He also warns that the region’s real‑estate future hinges on federal land releases, as Las Vegas is surrounded by vast open spaces that could provide new housing if the government permits.

    Patrick Brennan, founder of Red Ridge Development, recently broke ground on a 32‑story condo tower and a five‑story apartment building with retail and office space in downtown Las Vegas. He describes a shift from sprawl to upward growth, citing Bureau of Land Management land protections that limit outward expansion and create longer commutes and traffic congestion. “The path to scalable housing and true urban living in Las Vegas is vertical, not horizontal,” Brennan says. His goal is to transform downtown, Symphony Park, and the Arts District into a metropolitan core that serves residents rather than just tourists.

    For more information, contact Patrick Blennerhassett at [email protected].

Las Vegas skyline with construction cranes, symbolizing growth over decline.