215 Beltway between Ann Rd. & Centennial Parkway — Approximate Site Of Planned Townhomes
Las Vegas City Council has signed off on a 97-lot townhome development planned for the northwest valley, clearing the way for homes priced between $360,000 and $370,000. The project, pitched by local developer Prospect Street Capital, carries a total cost of $33.4 million, is backed by a $10.5 million low-interest state-account loan, and would rise along the west side of the 215 Beltway between Ann Road and Centennial Parkway.
The council approved the plans last Wednesday, according to Las Vegas Review-Journal, which reported that the development will feature three- and four-bedroom units ranging from 1,359 to 1,518 square feet. Scott Goldstein, founder and managing partner of Prospect Street Capital, said the homes will be priced in the $360,000-to-$370,000 range, with groundbreaking expected in fall 2027. Prospect Street Capital describes itself on its own site as a Las Vegas-based real estate investor, developer and operator.
How the State’s Housing Fund Fits In
The financial backbone of the deal traces to Assembly Bill 540, state legislation that created the Nevada Attainable Housing Account inside the State General Fund, according to the Nevada Legislature. Lawmakers appropriated $133 million to that account. The Prospect Street project is backed by a $10.5 million low-interest loan from the account, the same report noted…