Neighborhood deep dive
North Las Vegas
Apex Industrial Park, the Villages at Tule Springs, and Tule Springs East
The only part of the valley where new-home sales are growing at double digits, and the part carrying the most speculative industrial risk. Both of those are the same story.
The numbers that define it
What is driving development here
North Las Vegas is the affordability release valve and the industrial workhorse at the same time. Its median resale price of $425,000 in July 2026 sits $55,000 below the valleywide $480,000 (broker market report), (Fox5 / Las Vegas REALTORS). And its master plans are the only ones growing at double digits: Heartland at Tule Springs was up 66 percent in the first half, fifteenth best-selling in the country, and Heartland Trails was the single top-selling subdivision in the valley in July with 26 net sales (Review-Journal), (Review-Journal).
On the industrial side it took nearly three-quarters of the valley's second-quarter net absorption, and has absorbed roughly 65 percent of the last five years of valley industrial construction (CBRE), (Newmark). Apex now counts 28.5 million square feet completed, under construction or planned, against about 5,000 developable acres of an 18,000-acre park (City of North Las Vegas).
The largest land-development decision pending anywhere in the valley is here. Tule Springs East is a 6,500-acre area plan for 32,000 homes, 100,000 residents and more than 73,000 jobs, and the city put 4,262 developable acres out for expressions of interest with selection scheduled for September 16, 2026 (2026 State of the City), (NVBEX).
Projects we are tracking
Every row below traces to a named source. Dollar figures are the developer's or the agency's own stated numbers, not our estimates.
| Project | Size | Stated cost | Status | Source |
|---|---|---|---|---|
| Apex Ridge Logistics ParkEBS Realty Partners + Penwood | Two buildings, 755,628 sf and 602,377 sf, more than 1.36M sf on 90+ acres | ~$175M; $22M for the pad alone, ~2M cubic yards moved over 14 months | Broke ground speculatively with no tenants signed; mid-2027 delivery | EBS Realty |
| Hylo ParkAgora Realty | 73 acres (city says 70); ~37 acres housing, 36 acres sold to Lennar for ~393 homes, ~158,000 sf multisport venue | ~$380M | Phase Two underway; buildout around 2027 | Hoodline |
| Nevada State University North Las Vegas campusNSU with the NLV Redevelopment Agency and the Legislature | 3 stories, 30,000 sf on a 19-acre gateway site | Not disclosed | Groundbreaking April 28, 2026; campus opening fall 2027 | City of North Las Vegas |
| Vantage NorthVanTrust Real Estate | ~350-acre campus, up to 4.2M sf planned; ~1.2M sf leased to DHL | Center building sold to Saddle Creek for ~$96.8M | Buildings delivered 2023–2024; last two vacant buildings leased Jan 2026 | Hoodline |
| HighlanderCapRock Partners | 85 acres, 1.48M sf | Not disclosed | Construction began 2024 | City of North Las Vegas |
| Hyve Solutions AI server manufacturingHyve Solutions (TD SYNNEX) | 240 jobs within two years; $8.7M in capital equipment | $1.03M abatement; $19.4M projected new taxes | Abatements approved Aug 5, 2026; announced Aug 19, 2026 | Unite.AI |
| Apex data center land playsSwitch; Novva Data Centers | Switch ~176 acres; Novva ~205 acres | Switch $85.5M (Dec 2025); Novva ~$181M (summer 2025) | Land acquired; no construction timeline published | Review-Journal |
| Air Liquide hydrogen plantAir Liquide | Size not published | $200M | On the city's Apex project list | City of North Las Vegas |
What it costs to buy here
| Measure | Value | Period & basis | Source |
|---|---|---|---|
| Median resale, single-family | $425,000 on 138 closings, 17 median days on market | July 2026, GLVAR data via a broker IDX pull | Nevada Real Estate Group |
| Median owner-occupied home value | $372,300 | ACS 2019–2023 | Census QuickFacts |
| Population and households | 284,771 residents; 85,814 households at 3.14 persons each | July 2023 estimate; ACS 2019–2023 | Census QuickFacts |
| Median new-home price | Not published at the submarket level | — | Home Builders Research reports by master plan, not city |
Seventeen median days on market is the fastest of the four areas we track, and it is the clearest single indicator that North Las Vegas is where valley demand is actually clearing. We have not found a city-level permit series for 2026 from a primary source, so no permit count appears on this page.
Land and capacity
- Apex is 18,000 total acres with roughly 5,000 developable, and 28.5 million square feet completed, under construction or planned — 5.5 million completed, 3.8 million under construction, 19.2 million planned. Infrastructure includes a $59 million water line, an $850 million SNWA investment, and two substations with five more planned — City of North Las Vegas.
- Tule Springs East does not run on city approvals alone. The 4,262 developable acres across two packages — a 155-acre industrial plan at CC-215 and North Lamb, and a 4,107-acre mixed-use plan north of Grand Teton — are primarily BLM-owned and can only be sold through the federal SNPLMA disposal process. Submissions closed August 17, 2026 with selection set for September 16 — NVBEX.
- The city reports more than $1 billion in annual private investment for eight straight years — 2026 State of the City.
- Submarket industrial fundamentals: 62,121,109 square feet of inventory, 12.20 percent vacancy, 1,364,000 square feet under construction, $0.93 per square foot per month asking rent, and 1.2 million square feet of trailing twelve-month net absorption — NV Energy LOGIC Q2 2026.
The constraint nobody advertises
Apex is still digesting. Vacancy there hit 41 percent at the end of 2025 against a 9.2 percent valley rate, and North Las Vegas as a whole carried 12.20 percent vacancy in the second quarter of 2026 with another 1.36 million square feet under construction — while EBS and Penwood added 1.36 million square feet of purely speculative space with no tenants signed at groundbreaking (Review-Journal), (NV Energy LOGIC), (EBS Realty).
The site history at Apex Ridge is the warning. Ball Corp bought that land for $28.3 million in 2021, cancelled its project in 2023, and sold it in 2024 to EBS and Penwood for $31 million (Review-Journal). Entitled land in Apex has changed hands more reliably than it has produced buildings.
And the 32,000-home Tule Springs vision moves on a federal timeline the city does not control. The land is BLM-owned and only moves through SNPLMA disposal (NVBEX). A September selection is a milestone, not a groundbreaking.
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The Friday Pipeline
Everything that changed in the valley this week, in one email.
Status changes on every tracked project, the permits and agenda items nobody else flagged, and one chart. Free, once a week, no fluff.