Las Vegas developers buy 940 acres of former federal desert for $94 million; 6,000-home community planned
Developers have purchased 940 acres of former federal land in Las Vegas for $94 million to build a 6,000-home community called Monument Hills. The project, which includes schools and commercial space, is the largest Bureau of Land Management transaction in the area in over two decades.
Why it matters
This development represents a significant expansion of the Las Vegas metropolitan area and highlights the use of federal land disposal policies to address housing demand.
For years, nearly 940 acres on the northern edge of Las Vegas sat as open federal desert, surrounded by some of Southern Nevada’s most striking landscapes. Now, the vast stretch of undeveloped land is set to become a new city-within-a-city, with plans for as many as 6,000 homes, schools, parks, commercial areas and dedicated housing for military and workforce families.The $94 million land deal has cleared the way for Monument Hills, a master-planned community in the upper northwest Las Vegas Valley. The project is being developed by Olympia Companies and Bruin Capital Partners, which acquired the roughly 940-acre site after a federal land transaction involving the Bureau of Land Management (BLM) and the City of Las Vegas.
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