Investar USA has obtained Land Use Entitlements for an exciting residential multifamily project in the heart of downtown Las Vegas, Nevada.
LAS VEGAS, NEVADA, CANADA, May 18, 2023/EINPresswire.com/ — Investar USA, co-led by real estate industry veteran Travis Cadman, has obtained Land Use Entitlements for an exciting residential multifamily project in the heart of downtown Las Vegas, Nevada.
Encompassing 0.6 acres, this visionary development will showcase 113 thoughtfully designed studio, one-bedroom, and two-bedroom apartments, accompanied by top-notch amenities including a fitness center, zoom room, spacious patios, and modern conveniences. With three levels of covered parking, state-of-the-art smart home technology, solar recovery systems, EV charging stations, and contemporary decor, this development is set to elevate the vibrant district of downtown Las Vegas.
The demand for housing in Downtown Las Vegas continues to grow as higher incomes and an actively growing job trend within the submarket continues to drive rental demand. There is a current five-year demand for just over 10,000 new apartment rentals within the Las Vegas MSA, with approximately 8% of this demand located within the growing area of Downtown Las Vegas.
Mr. Cadman’s recent comments spoke to the need for housing, “Having been in this market since 2019 we know Downtown Las Vegas has more demand for housing than the market can currently supply and feel we can contribute to this cause with a very well thought out design, a mix of unit types that will provide a blend of housing options with an amenity package that will appeal to the demographic”.
Since 2012 Las Vegas has been actively working to revitalize and expand the downtown core with major enhancement projects such as East Freemont Street’s Project Enchilada which is bringing greenspace, illumination, and overall stabilization to the area. The growth of the downtown core continues as new commercial and residential properties continue to transform and revive the Arts District.
Mr. Cadman stated at the City Council meeting “The City of Las Vegas has a concentrated focus on revitalizing this area and we are extremely excited to be a part of this process”.
Background on Real Estate Investment Firm Investar USA
Investar USA is a dynamic real estate development and investment firm focused on revitalizing and developing multifamily communities across the southern United States. Their expertise lies in acquiring, renovating, repositioning, developing, and managing multifamily real estate assets.
The company demonstrated its prowess in the single-family for rent market by acquiring over 300 homes in Arizona’s Greater Phoenix area between 2008 and 2012, utilizing its own management system and acquisition model. Since then, Investar USA has expanded its focus to multifamily repositioning and rental, successfully acquiring multiple apartment complexes in Arizona, Nevada, and Texas.
About Travis Cadman
Travis Cadman has over 30 years of experience in the real estate asset class. He has built a strong track record of success in acquiring, developing, revitalizing and managing multifamily communities.
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