“We plan to officially announce our projects first quarter 2019 with the first deliveries in 2020,” he says. The company's Southwest division is led by Kevin Wisdom, senior VP/development; and John Faulk, VP, development. The Southwest division office in Dallas was established expressly to explore luxury apartment opportunities throughout the southwest US with particular focus on Phoenix and Las Vegas.

The planned Las Vegas developments should employ approximately 350 construction workers and the company says it intends to use local contractors.

Patterson relates that in addition to the highly sought-after millennial demographic, service workers are a key driver as well in the Las Vegas rental sector.

“Las Vegas is a city where anything and everything is possible,” Patterson relates. “We are excited to be here—and in a big way.”

Related Development made news last week in Las Vegas when it won an award at the 2018 Multi-Family Executive Conference at Bellagio Las Vegas for the nation's Best Mid-Rise Development: The Flats, a mixed-use residential project located in Doral, FL.

Recent rental completions by Related include the 390-unit Icon Midtown property in Atlanta and the 340-unit Icon Harbour Island property in Tampa Bay, FL. The firm currently has an additional 4,000 units in its development pipeline.

Related Development is part of The Related Group, a multinational privately-held company that has built, rehabilitated and managed more than 90,000 condominium, rental and commercial units. The firm is one of the largest Hispanic-owned businesses in the United States with a development portfolio of projects in excess of $15 billion.