Clark County commissioners this week gave the green light to a new townhouse project near Rhodes Ranch.
The commission voted 7-0 on Wednesday to approve Las Vegas homebuilder Touchstone Living’s 80-unit project on the east side of Durango Drive between Robindale and Warm Springs roads, in the southwest valley.
Touchstone closed its $6.4 million purchase of the 5-acre site earlier this month, property records show.
Tom McCormick, founder of Touchstone, said he hopes to break ground by the end of this year. Units will span two or three stories each, with prices in the $400,000-range, he said.
Touchstone’s target audience for its projects are first-time homebuyers. Its current developments include Independence, located on the former Royal Links golf course site in the eastern Las Vegas Valley. Its other projects include Solaris, on Russell Road near the 215 Beltway, which McCormick said would look similar to the new one on Durango.
In general, higher mortgage rates in the U.S. have made it increasingly difficult for would-be buyers to afford a home over the past few years, including in Southern Nevada.
Locally, buyers picked up roughly 31,300 homes on the resale market last year, according to trade association Las Vegas Realtors.
That was up from about 29,000 in 2023 — the slowest sales year since 2008 — but far below roughly 50,000 sales logged in 2021, a record year, when ultra-low borrowing costs sparked a homebuying binge in Las Vegas and around the nation.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.
