The NRP Group, Rockefeller Group Break Ground on Luxury, 342-Unit Multifamily Community in Las Vegas

New Class-A development adjacent to Southern Highlands master-planned community offers resort-style amenities and upscale design in high-growth market

LAS VEGAS--(BUSINESS WIRE)--The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, and U.S. developer Rockefeller Group today announced the groundbreaking of Silverado, a Class-A, 342-unit apartment community in Las Vegas. Located near the Southern Highlands Master-Planned Community, Silverado represents NRP’s entry into Las Vegas, and Rockefeller Group’s first multifamily project in Nevada. This project is a significant milestone in the two companies’ shared commitment to bringing innovative, high-quality housing options to growing markets.

“As we celebrate 30 years of building vibrant communities, our expansion into Las Vegas marks an exciting new chapter for The NRP Group,” said Chris O’Neill, Executive Vice President of Development at The NRP Group. “This market presents a unique opportunity to bring our expertise in community-focused placemaking to a city that continues to attract working professionals and growing families. We look forward to contributing to Las Vegas’ thriving landscape and meeting the housing needs of its residents.”

Silverado is strategically located in Enterprise, one of the fastest-growing submarkets in the U.S., offering residents proximity to major job corridors, retail centers and landmarks such as the Las Vegas Strip, Allegiant Stadium and Harry Reid International Airport all within a ten-mile radius. The project is also equidistant to Henderson and Summerlin.

The development features 15 three-story garden-style residential buildings on a 13-acre site, totaling 342 one-, two-, and three-bedroom units. Designed by Las Vegas-based Perlman Architects, Silverado blends locally inspired architecture with upscale finishes like stone and metal accents, setting it apart from traditional stucco-style properties in the area.

“We’re thrilled to bring our first-ever development to the Las Vegas market,” said Michael Moriarty, Vice President of Development at The NRP Group. “With no other Class-A multifamily assets set to deliver within a three-mile radius over the next eight quarters, Silverado addresses a clear need for best-in-class housing in this submarket. Ideally situated near bustling retail hubs like Blue Diamond Crossing and Town Square Las Vegas, and just ten minutes from the iconic Las Vegas Strip, this community will offer both luxury and convenience to Las Vegas’ diverse residents.”

Silverado will include a 7,000-square-foot clubhouse building with a social and sports lounge, communal kitchen, state-of-the-art fitness room and shared workspace with offices and meeting rooms tailored for remote professionals and students. Outdoors, residents can enjoy an array of spaces and amenities, including a pool, pickleball and bocce courts, dining and grilling areas, a yoga lawn, fire pit and dog park.

The apartment finishes are equally thoughtful, with quartz countertops, stainless steel appliances, upgraded cabinetry and LED backlit bathroom mirrors. Select units will offer balconies and private yards, with detached garages, carports and extra storage space.

“We’re pleased to partner with The NRP Group on Silverado, and look forward to delivering our first residential development in Las Vegas,” said Jay Despard, Senior Managing Director and head of Development for Rockefeller Group in the Rocky Mountain Region. “Through thoughtful planning and design, and the outstanding attributes of the location and site, this project has real potential to create new community and lifestyle enhancements for current and future residents of Enterprise.”

This housing community was financed with private equity from Rockefeller Capital Management.

Construction of Silverado is set to begin in December 2024, with completion slated for Q1 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 60,000 apartment homes and currently manages over 25,000 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 is consistently ranked in the Top 10 largest developers and builders in the U.S. by the National Multifamily Housing Council and by Affordable Housing Finance. The NRP Group is a winner of the National Association of Home Builders Multifamily Pillars of the Industry award for “Builder of the Year,” and a four-time recipient of the same award for “Development Firm of the Year.” 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 its nearly 30 years of experience and expertise, NRP now provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.

About Rockefeller Group

Rockefeller Group develops, owns and operates extraordinary properties across the United States. For nearly a century, the company has delivered exceptional experiences and value creation through dedication to quality in the built environment. The company’s portfolio spans the development of multifamily, office, industrial and mixed-use projects across seven geographic regions. Visit rockefellergroup.com.