Stalled Las Vegas Townhome Project Has Resumed
Trust Home Builders aims to deliver the first units of the 79-home community in late October.
Updated on Oct. 9, 2026 in Construction
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Construction has resumed at the Foundry Square at Five Points site in Las Vegas after years of delays and issues with vandalism. Trust Home Builders, which purchased the property for $4.8 million in February, is finishing 79 townhouses where previous development efforts had stalled.
Why it matters
The revival of this site addresses a long-standing neighborhood eyesore that suffered from theft, water damage, and illegal occupancy. The project represents a significant step in converting a once-foreclosed development into usable housing stock for the city.
Trust Home Builders purchased the four-acre site for $4.8 million, down from the $5.2 million paid in 2024. The firm plans to offer homes starting in the $380,000 range.
The players
Trust Home Builders
The development firm currently leading construction efforts at the former Eastern Avenue Lofts site.
Bridge Finance
A firm that previously acquired the development site through foreclosure in 2023.
Cole Moscatel
The individual who purchased the property for $5.2 million in 2024.
Larry Davis
The person who originally acquired the site in 2006.
The details
Crews are currently installing essential infrastructure including HVAC, plumbing, and electrical systems in the townhomes. To secure the site against the vandalism that previously plagued the property, the developer implemented a remote surveillance system that alerts authorities to motion. The team plans to complete the full 79-unit complex by 2029 or 2030.
Timeline
2006: Larry Davis originally acquired the site.
February 2026: Trust Home Builders purchased the property.
July 4, 2026: Last recorded security incident at the site.
Late October 2026: First six units expected to be ready for sale.
2029-2030: Target completion and sell-out of the project.
Beyond the Strip
This development follows a long local history of stalled housing projects left incomplete after market shifts. It represents a rare instance where a long-dormant site is successfully transitioning into available inventory.
Neighbors near the intersection of Fremont Street and Charleston Boulevard should see increased activity as construction crews work to finish the units. Prospective buyers can watch for the first six townhomes to hit the market in late October.
The takeaway
The site has moved from a recurring security concern to an active construction zone. Residents should monitor the project for the planned October sales launch, as it signals the final phase of this long-delayed development.
Further reading
For more updates on residential development, visit the Construction section.
Source note: This article includes information reported by Las Vegas Review-Journal.
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