Years after buying the project site, developers are bringing pricey new housing options to the District at Green Valley Ranch.
The Calida Group is building a 360-unit apartment complex behind Whole Foods on the east side of Green Valley Parkway, just south of the 215 Beltway.
The clubhouse and the first 100 or so units are slated to open in early January, with all units ready for renters by May, Calida Group co-founder Eric Cohen said.
Rental rates likely will top out at $2,500 per month — “hopefully higher,” Cohen said.
His group bought the land from American Nevada Co. in December 2011 for $10.2 million, property records show. Cohen declined to provide the total development costs.
He said the apartments only now are under construction because it took his group a year to get land-use entitlements from the city of Henderson and another year to process the construction plans with City Hall.
Cohen’s project is one of several valley apartment complexes under construction or on the drawing board, after development slumped to new lows last year.
Local developers built an average of almost 4,000 apartment units a year the past two decades. They opened just 367 units in 2013, a 20-year low, but are on track for 2,000 to 2,500 this year, CBRE Group broker Spencer Ballif has said.
Several new projects are from the Calida Group.
The firm opened a 255-unit complex in January in Southern Highlands. It also plans to develop a 466-unit complex at Tropicana Avenue and the 215 Beltway and a 124-unit complex near Red Rock Resort in Downtown Summerlin, formerly known as the Shops at Summerlin.