Stalled Las Vegas Townhouse Project Resumed
Developers have restarted construction on a 79-unit complex after implementing new site security measures.
Updated on Oct. 9, 2026 in Construction
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Trust Home Builders has resumed work on the Foundry Square at Five Points site in Las Vegas, a project previously stalled by vandalism and legal hurdles. The developer plans to deliver the first of 79 planned townhouse units by late October.
Why it matters
The site was previously plagued by theft and unauthorized occupancy, highlighting the critical importance of site security in urban infill projects. Addressing these risks allows the developer to move forward with finishing 15 partially built units and completing the remaining residential inventory.
Trust Home Builders purchased the 79-unit site for $4.8 million in February 2026, compared to a $5.2 million purchase by a previous owner in 2024. The firm plans to sell the townhouses at a starting price range of $380,000.
The players
Trust Home Builders
The current developer that purchased the site to resume construction and residential sales.
Bridge Finance
A financial firm that acquired the property through foreclosure in 2023.
Cole Moscatel
An investor who purchased the property for $5.2 million in 2024.
Larry Davis
The original owner who acquired the site in 2006.
The details
Crews are currently installing new electrical, plumbing, and HVAC systems alongside drywall to rehabilitate the 15 units left partially built under previous ownership. To prevent the recurrence of past theft and water damage, the owner installed a remote surveillance system that automatically alerts authorities to motion on the four-acre property.
Timeline
February 2026: Trust Home Builders purchased the development site.
July 4, 2026: The site recorded its last security incident.
Late October 2026: The owner expects the first six units to be ready for sale.
2029-2030: The developer projects completion and sell-out of the 79-unit project.
Market Landscape
The revitalization of this site follows its 2023 foreclosure as the Eastern Avenue Lofts, a common outcome for stalled urban residential projects facing extended legal delays. This project now tracks against typical recovery timelines for distressed real estate assets under new ownership.
Operators managing stalled projects should audit site security protocols to prevent theft and liability during idle periods. Establishing remote monitoring can reduce incident rates to near zero, preserving the value of capital improvements and building materials on-site.
The takeaway
Securing a dormant site is a prerequisite for project resumption and the mitigation of costly material losses. Developers should prioritize surveillance and site access control as the first step in rehabbing distressed assets.
Further reading
For more information on the local development environment, visit Construction.
Source note: This article includes information reported by Las Vegas Review-Journal.
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