Lennar Breaks Ground on The Foundry, Expanding Opportunity for Attainable Homeownership in Downtown Las Vegas

70-acre redevelopment of the former Cashman Center and Grant Sawyer sites will feature 1,000+ homes planned from the $300,000s

LAS VEGAS, Oct. 15, 2026 /PRNewswire/ -- Lennar, one of the nation's leading homebuilders, today celebrated the groundbreaking of The Foundry, a gated residential community of more than 1,000 townhomes and single-family detached homes in historic downtown Las Vegas. Spanning approximately 70 acres across the former Grant Sawyer Building and Cashman Center sites near Las Vegas Boulevard and East Washington Avenue, The Foundry represents a significant investment in downtown's future and a collaborative effort to expand attainable homeownership opportunities. Vertical construction is expected to begin in October 2027.

The community is being advanced through a visionary public-private partnership involving the City of Las Vegas, the State of Nevada and Lennar to transform underutilized downtown properties into a new residential destination serving first-time buyers, young families and others seeking to own a home in the heart of the city.

"This is a great example of how we can put state property to better use, save taxpayer dollars, and expand housing opportunities for Nevada families," said Gov. Joe Lombardo. "By relocating state employees from the aging Grant Sawyer Building, we saved the state $207 million and opened the door to 1,000 new homes on this site. I want to thank Lennar and the City of Las Vegas for their partnership in getting this project to the starting line. My administration will continue working with local governments and private-sector partners to reduce barriers to development, increase housing supply, and help more Nevadans achieve homeownership."

"The American Dream of homeownership should be within reach for more families, and The Foundry represents an important step toward making that possible in Las Vegas," said Lennar Las Vegas Division President Joy Broddle. "This is what a strong public-private partnership can accomplish, bringing together a shared vision and a commitment to expanding homeownership opportunities while investing in the future of downtown Las Vegas."

"One of the city's top priorities is housing, and I want to thank Lennar and the State of Nevada for partnering with the city of Las Vegas to build homes for the hard-working people who power this city—our hospitality workers, teachers and first responders," said Las Vegas Mayor Shelley Berkley. "This is a great example of a public/private partnership that is going to benefit the entire community with high-quality, beautifully designed, living spaces that are attainable."

"Today is about more than pouring concrete or moving dirt," said Ward 5 Councilwoman Shondra Summers-Armstrong. "It is about laying the foundation for a more inclusive, vibrant and accessible Las Vegas. Lennar has been a wonderful partner to the city and the state on this project, and I cannot wait to see working families move in, put down roots and call Ward 5 home."

The Foundry will feature home collections offering a mix of townhomes and single-family detached homes, with modern designs and open floorplans tailored to a range of household needs. Pricing is planned to start in the $300,000s. Every home will include Lennar's signature Everything's Included® program, which incorporates popular features and finishes into the base price.

Planned community amenities will include swimming pools, outdoor barbecue kitchens and picnic areas, walking paths, shade structures, a dog park, a fitness course, a multi-use play field and a children's play area. The community features amphitheater-style seating for outdoor gatherings and events.

Located within a downtown Las Vegas redevelopment district, The Foundry is adjacent to Old Las Vegas Mormon Fort State Historic Park and the Las Vegas Natural History Museum, with convenient access to downtown employment centers, dining and entertainment.

For more information about future home opportunities at The Foundry, call 702-821-4850.

About Lennar Corporation

Lennar Corporation is one of the nation's leading homebuilders, dedicated to making the American dream of homeownership attainable for more people. Since its founding in 1954, Lennar has built more than 1.5 million homes for buyers at every stage of life in communities across the country, from first-time and move-up buyers to active adults. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes. LEN^X drives Lennar's technology, innovation and strategic investments, shaping the future of homebuilding. For more information, visit www.lennar.com.

Contact: Danielle Tocco
Vice President Communications
Lennar Corporation
[email protected]
Direct Line: 949.789.1633 

SOURCE Lennar