Thank you Southern Nevada NAIOP for selecting KAKTUSlife @dean martin to receive the honor award for Multi-family Development of the Year 2020. It is an honor and a privilege to compete and receive this coveted award amongst our industry peers.
FOR IMMEDIATE RELEASE
March 11, 2021
Cantor Fitzgerald, Silverstein Properties and TRU Development Company Break Ground on theAPEX @meadows Apartments
The 334-unit multifamily development will offer residents state-of-the-art amenities and close proximity to downtown Las Vegas.
Las Vegas – Today, Cantor Fitzgerald, Silverstein Properties, and TRU Development Company commenced construction on the theAPEX @meadows, located at 4480 Meadows Lane, with an official groundbreaking ceremony. Representatives from Cantor Fitzgerald, Silverstein Properties, TRU Development, and the City of Las Vegas commemorated the occasion with a formal speaker presentation and ceremonial shovel dig to mark the beginning of development.
“We are excited to participate in the development of this project and look forward to working closely with Las Vegas veterans TRU Development and our partners at Silverstein Properties,” said Howard Lutnick, chairman and CEO of Cantor Fitzgerald. “The project is pursuing Green Globes for New Construction certification which demonstrates our continued commitment to invest in quality real estate and support green initiatives wherever possible.”
The special ceremony began with an introduction from Tim Deters, CEO and President of TRU Development, who spoke about the project and its importance to the community. Additional speakers included Marty Burger, CEO, Silverstein Properties, Carolyn Goodman, Mayor of Las Vegas, and Karl Catarata, a representative from Councilman Knudsen’s office, representing Ward 1 for the City of Las Vegas.
“There will always be a need for quality rental housing in Las Vegas,” said Marty Burger, CEO of Silverstein Properties. “I previously developed over five million square feet in the Las Vegas market earlier in my career. I used to play basketball at the YMCA across the street from this site, it is a terrific location. I am thrilled to return to this part of Las Vegas, and excited to partner with TRU and Cantor Fitzgerald on this great project.”
Once complete, the five-story multifamily apartment development, built on nearly 10-acres, will feature 334 one-and two-bedroom units. Amenities will include a clubhouse, pool, roof top lounge, garage parking, a state-of-the-art fitness center, yoga studio, smart tech campus that controls common area access, the apartment unit door lock, thermostat, motion/door sensor and light switches on your smart device and multiple onsite recreation areas with an indoor gamer lounge, outdoor ping pong tables and multiple media centers, to name a few. The complex offers convenient transit accessibility to downtown Las Vegas and is adjacent to Meadows Mall, home to over 50 retail shops and restaurants.
“TRU Development was honored to be the selected local development partner to work alongside Cantor Fitzgerald and Silverstein Properties,” said Tim Deters, CEO and President of TRU Development. “As the premier multifamily developer in Las Vegas to practice and implement green sustainable construction methods, we knew that there was going to be great synergy shared on this project. In our experience, finding passionate partners who share in like-minded development strategies make for great communities.”
In recognition of sustainability efforts executed during the design and delivery process, theAPEX @meadows will seek Green Globes® for New Construction certification equivalent to 3 Globes. Pursuing this certification demonstrates the company’s commitment to current and future building operations best practices, occupant health and wellness, and reducing carbon emissions.
Administered by the Green Building Initiative (GBI), Green Globes is a nationally recognized green rating assessment and certification system that ensures projects meet clearly defined criteria in seven assessment areas: Project Management, Site, Energy, Water, Resources, Emissions, and Indoor Environment.
First move ins for the project are projected to be in the Spring of 2023. To learn more about the project, visit www.apexatmeadows.com.
About Cantor Fitzgerald L.P.
Cantor Fitzgerald, L.P., with over 12,000 employees, is a leading global financial services firm at the forefront of financial and technological innovation and has been a proven and resilient leader for over 75 years. Cantor Fitzgerald & Co. is a preeminent investment bank serving more than 5,000 institutional clients around the world, recognized for its strengths in fixed income and equity capital markets, investment banking, prime brokerage, and commercial real estate and for its global distribution platform. Cantor Fitzgerald & Co. is one of the 24 primary dealers authorized to transact business with the Federal Reserve Bank of New York. For more information, please visit: www.cantor.com.
About Silverstein Properties
Silverstein Properties is a privately held, full-service real estate development, investment and management firm based in New York founded by Larry Silverstein. Silverstein Properties has developed, owned and managed more than 40 million square feet of commercial, residential, retail and hotel space. Recent projects include 7 World Trade Center, the first LEED-certified office tower in New York City (2006), 4 World Trade Center (2013), the Four Seasons Downtown (2016), One West End (2017) and 3 World Trade Center (2018). The company has been recognized as one of the “Best Places to Work in New York City” by Crain’s New York Business for eight years in a row. For more information on Silverstein Properties, please visit: www.silversteinproperties.com or http://www.wtc.com.
About TRU Development
TRU Development is a full-service development company comprised of a group of professionals based in Las Vegas, Nevada specializing in residential, retail, office, and industrial real estate development. KAKTUSlife is the first luxury branded LEED Silver multifamily offering by TRU Development, followed by theAPEX brand. Coming soon to the TRU portfolio are KAKTUSlife @the curve, theAPEX @meadows, theAPEX @galleria and theAPEX @vista. To date, TRU Development has developed approximately 7,000 multifamily units. For more information, please visit: https://trudevco.com/
KAKTUSlife @dean martin received a Project Award for the 2020 Multi-Family Development of the Year.
Congratulations to all the winners and participants in this year’s ceremony and a special thank you to NAIOP of Southern Nevada for hosting a great virtual event!
On March 11th, 2021, TRU Development, Cantor Fitzgerald and Silverstein Properties commemorated theAPEX @meadows groundbreaking ceremony with an official shovel dig. Mayor Carolyn Goodman and Councilman Brian Knudsen were there to share their support for the redevelopment of the City of Las Vegas ward 1 corridor. TRU is excited about elevating the community and city through new multifamily projects.
As Mayor Carolyn Goodman stated, “We are COMING BACK!”
Special thanks to our event sponsors Martin Harris, Bayley and ADS.
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Market Rate apartments under construction.
Cantor Fitzgerald and Silverstein Properties Close Opportunity Zone Land Acquisition in Las Vegas, NV
Silverstein and TRU Development to Develop 334-Unit “Meadows Apartments” close to downtown Las Vegas and the Medical District
Cantor Fitzgerald, L.P., a leading global financial services firm and real estate investment company, and Silverstein Properties, a leading global full-service real estate development, investment and management firm, today announced the closing of their first multifamily development site in a qualified opportunity zone.
The Meadows Apartments is intended to be developed by Silverstein Properties and Las Vegas-based TRU Development as part of Cantor Fitzgerald and Silverstein Properties’ opportunity zone program. The site is located 15 minutes west of downtown Las Vegas and near the Medical District. The four-story development on nearly 10 acres will feature 334 one- and two-bedroom units. Amenities include a clubhouse, two pools, a state of the art fitness center, and multiple recreational areas. The location offers convenient transit accessibility to nearby downtown Las Vegas and is adjacent to Meadows Mall, home to over 50 retail shops including restaurants, department stores, clothing stores, specialty stores, and a grocery store.
Growth in the Las Vegas market has exceeded other U.S. markets for the last few years, with Clark County’s population increasing by more than 48,000 people between 2017 and 20181 — the second largest increase of any U.S. county. Apartment fundamentals in Las Vegas continue to improve as the workforce and population expand. Rents in the Las Vegas market grew 7.5% year-over-year—the second largest among the top 50 U.S. markets and the 21st consecutive quarter in which year-over-year rent growth in Las Vegas was at or above 4.5%.2
“Downtown Las Vegas is undergoing significant revitalization fueled by public-private development and commercial investment,” said Michael Lehrman, Senior Managing Director, Cantor Fitzgerald. “We are delighted to have this well-located parcel as our development project and to partner with Silverstein, a company with which we have a unique and long-standing relationship and a shared commitment to investing in communities and improving lives.”
Cantor Fitzgerald and Silverstein Properties have a well-established relationship. Notably, the two firms share a historical connection to the tragic events of 9/11 at the World Trade Center and played central roles in the recovery that followed. This project is a natural extension of the companies’ shared history, and underscores both firms’ commitment to rebuilding.
“The Las Vegas market is a great fit for Cantor Fitzgerald and Silverstein Properties. Continued job and population growth have contributed to demand for new multifamily housing,” said Marty Burger, Chief Executive Officer, Silverstein Properties. “Renters in the area, many of them medical professionals, have few options. Our project will offer first-rate residences near US 95 providing convenient access to transit around greater Las Vegas, and is walkable to local shopping, food, and entertainment. Construction is scheduled to begin in 2020.”
About Cantor Fitzgerald
Cantor Fitzgerald, L.P., with over 12,000 employees, is a leading global financial services group at the forefront of financial and technological innovation and has been a proven and resilient leader for over 70 years. Cantor Fitzgerald & Co. is a preeminent investment bank serving more than 5,000 institutional clients around the world, recognized for its strengths in fixed income and equity capital markets, investment banking, prime brokerage, and commercial real estate and for its global distribution platform. Cantor Fitzgerald & Co. is one of the 24 primary dealers authorized to transact business with the Federal Reserve Bank of New York. For more information, please visit: https://www.cantor.com/.
About Silverstein Properties
Silverstein Properties is a privately held, full-service real estate development, investment and management firm based in New York founded by Larry Silverstein. Silverstein Properties has developed, owned and managed more than 40 million square feet of commercial, residential, retail and hotel space. Recent projects include 7 World Trade Center, the first LEED-certified office tower in New York City (2006), 4 World Trade Center (2013), the Four Seasons Downtown (2016), One West End (2017) and 3 World Trade Center (2018). The company has been recognized as one of the “Best Places to Work in New York City” by Crain’s New York Business for eight years in a row. For more information on Silverstein Properties, please visit: https://www.silversteinproperties.com/or https://www.wtc.com/.
About TRU Development
TRU Development is a full-service development company comprised of a group of professionals based in Las Vegas, Nevada specializing in residential, retail, office, and industrial real estate development. KAKTUSlife is the first luxury branded LEED Silver multifamily offering by TRU Development, followed by theAPEX brand. Coming soon to the TRU portfolio are KAKTUSlife @the curve, Meadows Apartments, and theAPEX @galleria. To date, TRU Development has developed approximately 7,000 multifamily units. For more information, please visit: https://trudevco.com/
TRU and IOTAS leadership have partnered on the KAKTUSlife @dean martin project here in Las Vegas, Nevada. The first luxury apartment community to feature IOTAS in the state. With leadership that is forward thinking in tech and development, we are confident that we can continue to create dynamic projects that exceed the consumers expectations.
Click on the link below to read about their recent capital raise efforts.
KAKTUSlife Awarded Prestigious LEED Green Building Certification
LAS VEGAS – TRU Development, a development company based in Las Vegas, is proud to
announce that their property, KAKTUSlife has been awarded LEED Silver Certification. The LEED
(Leadership in Energy and Environmental Design) rating system, developed by the U.S. Green
Building Council (USGBC), is the foremost program for buildings, homes and communities that
are designed, constructed, maintained and operated for improved environmental and human
KAKTUSlife, located in Southern Highlands, is the premiere luxury lifestyle residential apartment
community and is the first of its kind in the valley. KAKTUSlife is attractive to a sagacious
clientele who value technology, health and sustainability in a connected co-living environment.
A community within a community, KAKTUSlife has created an engaging culture and unique,
sustainable living accommodations at an unbeatable location.
KAKTUSlife Apartments offers the best of Las Vegas all in one convenient, modern, luxurious,
and central location. These premier, upscale apartments are located steps from the Las Vegas
Strip and Town Square. Residents can enjoy the perfect blend of convenience and home with
nearby restaurants and shopping.
“The work of innovative building projects such as KAKTUSlife is a fundamental driving
force in transforming the way buildings are built, designed and operated,” said Mahesh
Ramanujam, president and CEO, USGBC. “Buildings that achieve LEED certification are lowering
carbon emissions, creating a healthier environment and reducing operating costs while
prioritizing sustainable practices. Because of KAKTUSlife, we are increasing the number of green
buildings and getting closer to USGBC’s goal to outpace conventional buildings, while being
environmentally and socially responsible and improving the quality of life for generations to
KAKTUSlife achieved LEED certification through the implementation of practical and
measurable strategies and solutions aimed at achieving high performance in sustainable site
development, water savings, energy efficiency, materials selection and indoor environmental
The LEED Green Associate program is one of several credentials administered by Green
Business Certification Inc. (GBCI), the premier organization independently recognizing
excellence in green business industry performance and practice globally. The GBCI
credentialing program uses rigorous test development best practices and requires ongoing
maintenance to encourage credentialed professionals to participate in learning experiences
that demonstrate continued competency and up-to-date industry knowledge. In addition to the
LEED Green Associate credential, GBCI also administers the LEED AP with specialty credentials;
the SITES AP credential for landscape design and development; the WELL AP credential, which
focuses on human health and wellbeing in the built environment; and the Urban Greenhouse
Gas Inventory Specialist credential that focuses on community-level greenhouse gas emissions
inventory accounting. GBCI has received and maintained Personnel Certification accreditation
from the American National Standards Institute since 2011.
TRU Development’s Senior Market Analyst, Gary Banner, was a guest speaker at this year’s 2019 Interface Las Vegas Multifamily Conference at The Four Seasons.
This event was earmarked for multifamily real estate topics specific to the Las Vegas market plus networking opportunities.
Dr. Stephen M. Miller, Director, CBER of Lee Business School at the University of Nevada, Las Vegas was a Key note speaker at this Annual event.
For more information click on the link below:
KAKTUSLife is a new development for Las Vegas Residents and the first luxury multi-family community built to meet LEED Silver specifications.
For more information click on the link below: