Cashman Center in Las Vegas has been sold to national homebuilder Lennar, operating as Greystone LLC, for $36.15 million. The decision was finalized by the Las Vegas City Council after the site was re-auctioned, drawing two bids. The other bidder’s identity remains undisclosed. Lennar’s representative described the location as a “special redevelopment area,” with potential plans for housing in Ward 5.
The first auction in late 2024 failed due to contract issues, specifically lacking a period for the highest bidder to obtain land entitlements. The recent auction addressed this, allowing Lennar until April 17 to finalize a purchase and sale agreement, with closing expected by mid-September.
Lennar has yet to reveal specific development plans for the 50-acre site. The company intends to meet with city council members individually to discuss development proposals. The city acquired the Cashman Center from the Las Vegas Convention and Visitors Authority in 2016 and closed it in 2017, having struggled to redevelop the property since, including an unsuccessful offer to the Oakland A’s for a new stadium site.
