Real Estate · Downtown Las Vegas
Lennar breaks ground on The Foundry, a gated community of more than 1,000 homes on former state and Cashman Center land
Lennar held a ceremonial groundbreaking Thursday for The Foundry, a roughly 70-acre downtown Las Vegas community planned for more than 1,000 homes aimed at first-time buyers and young families.
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What happened
Lennar Corp., which the Las Vegas Review-Journal described as one of the biggest homebuilders in the country, held a ceremonial groundbreaking on Thursday for a new community in downtown Las Vegas. State and city leaders joined the company at the event. The project is called The Foundry.
Plans call for more than 1,000 homes on roughly 70 acres, the Review-Journal reported. Vertical construction is expected to start in October 2027. The newspaper said the project is meant to remake a stretch of downtown Las Vegas.
Where the homes will go
Two sites across the street from each other
The Foundry will cover two properties. One is the former Grant Sawyer state office building site, which the Review-Journal described as now empty. The other is the Cashman Center complex across the street, which the newspaper said is soon to be demolished.
Along Washington Avenue
The community will sit along both sides of Washington Avenue, just east of Las Vegas Boulevard, according to the Review-Journal. The report did not give a date for the Cashman Center demolition. Readers following other projects in the area can find more coverage in our development section.
What the community will include
Gated with shared amenities
Citing a news release, the Review-Journal reported that The Foundry will be a gated community. Planned features include pools, picnic areas, walking paths, a fitness course, a play field and a children's play area. The plans also include amphitheater-style seating for outdoor events.
Who Lennar is targeting
Lennar said it is aiming the project at first-time buyers, young families and others "seeking to own a home in the heart of the city," according to the Review-Journal. The report did not include home prices, home sizes or a sales timeline.
The broader housing picture
The Review-Journal has separately reported on conditions facing local buyers and sellers. In one report, the newspaper said nearly 67 percent of local home sales included seller concessions in August, as elevated mortgage rates and a growing supply of homes gave buyers more negotiating power. We covered a related ranking in Las Vegas placing fourth nationally for homebuyer concessions.
The newspaper has also reported that higher mortgage rates are weighing on buyers and sellers as sales decline and inventory rises, with Southern Nevada's housing supply reaching five months. More local housing coverage is collected on our real estate page.
What to watch next
- Vertical construction at The Foundry, which the Review-Journal reported is expected to start in October 2027.
- Demolition of the Cashman Center complex, which the Review-Journal described as soon to be demolished to make way for part of the community.
