LAS VEGAS (FOX5) — The Bureau of Land Management finalized the sale of nearly 940 acres of federal public land to the City of Las Vegas on Thursday, clearing the path for a master-planned community of up to 6,000 homes, according to a release.
The $94 million transaction was executed at appraised fair market value under the Southern Nevada Public Land Management Act (SNPLMA), which permits the sale of federal parcels within designated boundaries across the Las Vegas Valley to support regional expansion.
The parcel is located in the upper northwest valley between the Las Vegas Paiute Tribe’s Snow Mountain Reservation and Tule Springs Fossil Beds National Monument. Clark County planners have repeatedly pointed to an urgent shortage of tens of thousands of residential units as Southern Nevada anticipates substantial population growth over the next decade.
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“By putting this land to work for the community, we’re helping Las Vegas respond to a critical need for more housing while also strengthening the programs that protect Nevada’s landscapes and support its people,” BLM Director Steve Pearce said in a statement.
Nevada Gov. Joe Lombardo welcomed the project, calling it critical to expanding the state’s housing stock.
“This is exactly the kind of bold action Nevada needs to increase our housing supply and make housing more attainable for hardworking Nevada families,” Lombardo said. “This historic conveyance will create thousands of new homes, generate billions of dollars in economic activity, support our military families, and build the infrastructure and communities Southern Nevadans need.”
According to BLM officials, under the provisions of SNPLMA, revenue from the transaction will be distributed across several state and regional initiatives:
- 85% will fund conservation initiatives across Nevada, including parks, public trails, environmentally sensitive land acquisition, and wildfire resiliency.
- 10% goes directly to the Southern Nevada Water Authority.
- 5% is allocated to the State of Nevada for public education.
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