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2/04/21
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A joint venture between Tradewind Properties and American Nevada Company has announced plans to develop Olympic and Mountain Vista Apartments, a 300-unit, garden-style multifamily community in Henderson. The project has officially broke ground, with an estimated construction timeline of 18 months.
Located at Olympic Ave and Mountain Vista St, the project will sit on an 11.6-acre site and will feature 23 residential buildings and a community clubhouse. The property will consist of studio, carriage, one-, two- and three-bedroom units, with the majority one- and two-bedroom floor plans.
More than half of the buildings will include tuck-under garages and some units will have direct garage access. Community amenities will include a fitness center, resort-style pool area, pickle ball courts, coworking space, common lounge areas, active recreation areas, and a dog park.
The site is within the Green Valley submarket of Henderson, just north of the major thoroughfare Sunset Road. It is located adjacent to the Town Center Shopping Center, which is anchored by Smith’s Food and Drug and features a variety of retail and restaurants.
The development is being funded with a $35.65 mil construction loan arranged by Bob Ybarra, Bruce Francis, Shaun Moothart, Dana Summers, Doug Birrell and Jennifer Ansari with CBRE Capital Markets’ Debt & Structured Finance group. The three-year, interest-only loan was funded through Washington Federal Bank.
As managing partner of the JV, Tradewind Properties will manage the construction and operations of the project. American Nevada Company, a Henderson, NV-based full-service real estate development company, contributed the land on which the property is to be developed.
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