Eldorado marks 28 years
North Las Vegas master-planned community wraps up development
ELDORADO, Pardee Homes’ master-planned community that helped shape the history of North Las Vegas, is about to close out its last neighborhoods after 28 years.
Klif Andrews, Pardee’s division president for Las Vegas, said that as of August, the homebuilder has two homes left for the sale and 88 under construction that should be completed by the end of the year.
Since the community was launched in 1989-1990 on land sold by the Bureau of Land Management, Pardee has built just under 5,000 single-family homes on the 1,080acre site.
Dennis Smith, founder of Home Builders Research, which tracks the Southern Nevada housing market, said the move was considered risky then because of the stigma of North Las Vegas, which hadn’t seen much appreciation of property values and newer development like other parts of the valley. Builders weren’t willing to go out to there for many years, he said.
In the case of Eldorado, it was far away from the central core of North Las Vegas, Smith said. He recalled the grand opening with a large tent “in the middle of nowhere” because there was no 215 Beltway.
“I think Eldorado has a place in the history of the metropolitan area because it did open up North Las Vegas for the first round of development, which probably correlates today to what’s being done to open up North Las Vegas to the next round of development to take advantage of the north 215,” Smith said.
Eldorado was a natural progression of development in North Las Vegas because sooner or later someone was going to build out there, Smith said.
Eldorado became like a suburb of the old North Las Vegas and allowed a new style of housing in the city at a time when Las Vegas was taking off with fewer than a million people, Smith said.
“It opened up North Las Vegas to the public builders, and they took advantage of it,” Smith said.
“They built around Eldorado like
ELDORADO