Developers buy 900-plus acres for Las Vegas’ biggest new community in years

Olympia Companies and Bruin Capital Partners have closed on roughly 940 acres in the northwest Las Vegas Valley for $94 million, according to Olympia executive vice president Chris Armstrong, who confirmed the purchase in a Wednesday interview. The transaction, involving federal land managed by the Bureau of Land Management, was finalized last week, as shown by public records. The site will become the foundation for Monument Hills, a planned community that could accommodate as many as 6,000 homes. Armstrong said the developers intend to parcel out portions of the property to homebuilders over the next several years, anticipating the first deliveries in spring 2028. The parcel lies within Las Vegas city boundaries, situated east of the Las Vegas Paiute Tribe-run play people along U.S. Highway 95 and west of the Tule Springs Fossil Beds National Monument. Plans call for two school locations, commercial space, and approximately 90 acres devoted to parks and trails.