Calida Buys Land to Build Housing Next to Las Vegas Casino

The Calida Group has paid $18.3 million for 13.2 acres in southwest Las Vegas with plans to build 398 apartments.

The locally based developer bought the land south of the 215 Beltway and next to the Durango hotel-casino, Station Casinos’ newest resort, in Spring Valley, the Las Vegas Review-Journal reported. The seller was locally based Ovation, another apartment developer.

Plans call for a four-story, Ainsley-branded project with 398 apartments, Doug Eisner, co-founder of Calida, told the newspaper.

Highlights will be similar to Calida’s new Ainsley at The Collective on Paradise Road, which has a game lounge with billiards and shuffleboard, a gym, sauna, yoga studio, Himalayan salt cave and massage and steam rooms.

The project will be visible from the Beltway in a growing area of Las Vegas, within walking distance of the Durango, which has dining and beverage options.

“We think it’s a huge amenity,” Eisner told the Review-Journal, in reference to the resort.

The apartments will range from 575 to 1,450 square feet, with rents expected between $1,700 to $3,200 per month.

Pending approvals, Calida expects to break ground in early spring.

Station, a locals-focused casino chain, opened the Durango Casino & Resort in December 2023, and broke ground on Jan. 6 for a casino expansion and parking garage.

In 2022, Ovation bought 21 acres next to the Durango for almost $24 million from Station. Ovation still owns 8 acres next to the hotel and has filed plans to build a 403-unit apartment complex.

The Calida Group, founded in 2007 by Eisner and Eric Cohen, is a multifamily development and investment firm that invests $1 billion a year across Nevada, California, Oregon, Washington, Idaho, Utah and Florida, according to its website.

— Dana Bartholomew