What Replaces Cashman Field? Lennar's Downtown Las Vegas Homes

Cashman Field hosted its last sporting event on Saturday, October 17, 2026, when Las Vegas Lights FC lost 5-3 to Lexington SC. The stadium, the Cashman Center convention buildings around it and the empty state office site across Washington Avenue are now headed for a 1,071-home, for-sale community built by Lennar and marketed as The Foundry.

This guide works from the City of Las Vegas agendas, staff reports and minutes, the State of Nevada's sale notice, Lennar's own release and our pull of MLS closings around the site. It answers what is approved, what is still pending and what nearby homes sell for today. For the reservation, deposit and builder-incentive questions a future buyer will face, see The Foundry buyer checklist; this guide stays with the site and the public record.

Lennar, through its applicant Greystone Nevada, LLC, has City of Las Vegas approval for 1,071 for-sale homes: 781 townhome lots on the 50.54-acre Cashman site and 290 lots on the 22.77-acre former Grant Sawyer site across Washington Avenue. The council approved the zoning, development agreements and maps 7-0 on January 21, 2026. Lennar expects vertical construction in October 2027 and has published only a "from the $300,000s" price, with no sales or move-in date.

• Approved maps allow 781 homes at Cashman and 290 at Grant Sawyer, 1,071 for-sale homes in total.
• The council amended both requests from high to medium density, R-3 zoning, before approving them 7-0.
• Lennar targets vertical construction in October 2027; no sales date, floor-plan prices or HOA dues are published.
• Within one mile of Cashman Field, 91 homes closed in the 12 months to August at a $349,000 median.
• The city's agency will reimburse up to $26,920,417 of public improvements, partly from future property-tax growth.

What Exactly Is Lennar Building on the Cashman and Grant Sawyer Sites?

The project covers two parcels on either side of East Washington Avenue, just east of Las Vegas Boulevard North. The larger one is the city-owned Cashman Center property at 850 Las Vegas Boulevard North, which held the stadium, an auditorium and convention space. The smaller one is the state-owned site of the former Grant Sawyer State Office Building at 555 East Washington Avenue, on the northeast corner of Washington and Las Vegas Boulevard. The applicant on the land-use items is Greystone Nevada, LLC, and the January 21, 2026 council minutes record Lennar's attorney appearing "on behalf of the applicant Lennar Homes." According to Lennar's October 15, 2026 release, the combined community is called The Foundry and will be gated.

According to the City of Las Vegas staff report for the Cashman items, the approved tentative map carries 781 lots on 50.54 gross acres, a density of 15.45 homes per acre, and every one is intended as a for-sale home rather than a rental. The Grant Sawyer staff report does the same for 290 lots on 22.77 acres. Together that is 1,071 homes, the figure Redevelopment Agency staff used in their April 15, 2026 presentation.

A 2.64-acre corner of the Cashman land along Las Vegas Boulevard is carved out of the housing agreement and reserved for future commercial use. The city's acreage adds to 73.31; subtract that corner and you get about 70.7 acres of housing land, which squares with Lennar's "approximately 70 acres."

Who Owns the Land Now, and What Did Lennar Agree to Pay?

Two different public owners are selling, on two different tracks, and news coverage has blurred them. According to the March 19, 2025 council minutes, the city's internet auction for the Cashman property closed on March 6, 2025 with a winning bid of $36,150,000 from Greystone, and the council accepted it 7-0 under Resolution R-19-2025. Staff said the purchase and sale agreement would be signed by April 17, 2025, with closing expected around September 2025 after the land-use approvals.

Those approvals took until early 2026, and the closing moved with them. The Review-Journal reported on October 15, 2026 that a city spokeswoman expected the Cashman sale to close by the end of the year. Stories saying the city "sold" Cashman in 2025 are describing the accepted bid, not a completed transfer. When we checked on October 26, 2026, the Clark County Assessor's record still listed the City of Las Vegas as owner of both Cashman parcels, now numbered 139-26-301-008 (47.9 acres) and 139-27-709-002 (the 2.64-acre corner).

The state side started with a higher number. According to the Nevada Division of State Lands sale notice, the roughly 22.79-acre Grant Sawyer property, with a five-story, 217,866-square-foot office building, carried a minimum bid of $19,450,000 based on a September 26, 2024 appraisal, with online bids due March 6, 2025. State officials tried twice to sell the property at auction and received no bids, according to the Review-Journal's October 15, 2026 report, which also quoted a governor's office official who expected the state's sale to Lennar to close at the end of October 2026.

We could not find a final Grant Sawyer price or a recorded deed in a State of Nevada or Clark County record, so we have left the price out until a public record shows it. On October 26, 2026, the Assessor's parcel record still listed the State of Nevada Division of State Lands as owner of parcel 139-26-201-012. The governor's July 22, 2026 release says moving state workers out of the building saved the state $207 million.

What Did the City Council Approve, and When?

The approvals ran from March 2025 through April 2026, and the city's records show no dissenting vote at any step. The detail most coverage missed is the density. Lennar originally asked to change both sites from Public Facility to High Density Residential and to rezone them from C-V (Civic) to R-4. According to the January 21, 2026 council minutes, Lennar's attorney told the council the request had been amended down to Medium Density and R-3, and the council approved it in that amended form 7-0 on both sites. So the site was not rezoned "high density," despite some reports.

The development agreements matter more to a future owner than the zoning label. They adopt a separate rulebook, the "Cashman Site Development Standards" and "Grant Sawyer Site Development Standards," that sets lot sizes, setbacks and building heights; the city code fills in only where those standards are silent. The first amendments, adopted April 1, 2026, spell out who handles certain off-site improvements on Washington Avenue: the city designs and builds them, while the developer dedicates property and grants the rights needed.

What Still Has to Happen Before Anyone Moves In?

Approval is not construction, and several required steps are still ahead. None of them has a published completion date, so treat this as a checklist, not a schedule.

The land has to close. As of mid-October 2026, the city expected the Cashman closing by year-end, and the state's Grant Sawyer parcel was still in state ownership on the assessor's record.

Final maps have to record. The tentative-map approvals are good for four years. According to condition 1 of the Cashman map, if a final map is not recorded on all or part of the site within four years of the January 21, 2026 approval, the action is void. That four-year clock appears to be what some reports described as the council giving Lennar "four years to take action."

Engineering studies have to be approved. The conditions require a traffic impact analysis, with a pedestrian circulation plan and an analysis of queuing at the gates, before any building or grading permit, and a drainage study on the same timing. Public Works also flagged that roughly 900 feet of downstream relief sewer toward the Harris Avenue and Bruce Street intersection may be needed for the lower part of the Cashman site.

The buildings have to come down. Grant Sawyer demolition started in July 2026, and the demolition contractor told FOX5 in a July 24 report that full teardown and site clearing would take about three and a half months. Lennar's Las Vegas division president told the Review-Journal on October 15 that Cashman demolition would start in a couple of months.

Building permits and vertical construction come last. City staff's April 2026 presentation listed an anticipated start in the first quarter of 2027; Lennar's October release says vertical construction is expected to begin in October 2027. Neither is a sales date or a move-in date, and Lennar has published neither.

How Much Public Money Is Going Into the Project?

The city is both selling the land and paying for part of the infrastructure. According to the Redevelopment Agency's April 15, 2026 item, the owner participation agreement reimburses Greystone for eligible public improvements on both sites, up to $26,920,417 plus interest from the agency's special revenue fund. Staff described those improvements as site preparation, utilities and sidewalks.

The staff presentation splits that into two pieces. A lump sum of $10,207,272 is due once grading, demolition and the first home's building permit are done. The other $16,713,145 is repaid out of future tax increment, the growth in property-tax revenue inside the redevelopment area, with 6% interest through 2046. The agency minutes add that any balance left at the 2046 sunset is forgiven, with no balloon payment.

For a homebuyer, the useful point is what this is not. The records we reviewed describe reimbursement from tax increment, not a special improvement district that would add an assessment line to each home's tax bill. Confirm that on the title report for any lot you consider, and use our SID and LID buyer guide to read what you find.

What Will the Homes and the Community Look Like?

The best description so far is the developer's own presentation at the January 21, 2026 hearing, recorded in the minutes. Lennar's attorney described four product types at Cashman. Detached townhomes of 1,705 to 1,945 square feet put the kitchen and living area on the second floor and bedrooms on the third, with outdoor decks on both upper floors, and offer either a ground-floor NextGen suite or a tandem three-car garage. Three-story threeplexes, rear-loaded fourplexes and five-plex and 10-plex buildings styled like brownstones make up the attached homes. The minutes record 950 parking spaces for the 781 homes, with 169 marked for visitors, and an amended city condition requires the CC&Rs to prohibit parking on the five-foot driveways.

Grant Sawyer is described as less dense: detached townhomes in the middle and two-story detached single-family homes of 2,000 to 2,400 square feet around the edge. Its entry is gated off Washington Avenue, with a secondary entry on Visions Park Lane and pedestrian access near the existing bus stop on Las Vegas Boulevard.

Amenities differ by site. Cashman's plan shows about an acre of open space with a pool, cabanas, play structures and a trail, and the minutes note the trail runs "along the fault line," with the site's elevation change built into the plan. Grant Sawyer's half-acre amenity area has a pool, cabanas and a tot lot. Lennar's release adds outdoor kitchens, a dog park, a fitness course, a multi-use field and amphitheater-style seating, and says every home will carry its "Everything's Included" features list.

The conditions also settle who maintains what, which is the part of the record a future owner lives with. The Cashman development agreement provides for a master homeowners association with sub-associations. The private streets are to be shown on the final map as utility, sewer and drainage easements maintained by the association, and if it fails to do that work, the map conditions make the individual owners jointly and severally liable for the city's costs. Before any home is conveyed, the developer must record a Declaration of Private Maintenance Requirements listing every privately maintained item. No dues or association budget have been published; when they are, our Las Vegas HOA fees guide shows how to judge them. Because the minutes put the Cashman trail along a fault line, the soil-report notice Nevada requires on a new home under NRS 113.135 is worth reading early. Deposits, contracts and builder financing are covered in The Foundry buyer checklist.

One number nearby owners should know: the agreements cap Cashman at 1,221 units and Grant Sawyer at 580, a combined 1,801. Today's maps use 1,071 of those. Building more would take new maps through the city, but the agreements already allow the headroom.

What Price Has Lennar Published, and What Do Nearby New Homes Cost?

Lennar's only published price is a range. According to Lennar's October 15 release, "Pricing is planned to start in the $300,000s." There is no floor-plan price list, no lot premium schedule and no HOA budget in anything public, and we will not estimate one.

What we can show is what new construction near downtown has sold for. Pulling every MLS closing in ZIP codes 89101, 89106, 89104 and 89030 from September 1, 2025 through August 31, 2026, homes built in 2023 or later closed 32 times at a median of $389,650. Those are different products and locations from Lennar's, so read them as the local new-construction market the Foundry will compete with, not as its price.

The point of the table is choice. A buyer who wants a new home close to downtown before Lennar releases anything already has townhome and detached options listed at about $340,000 to $470,000 in new construction around Las Vegas, plus the Cello Tower condos, listed as 2027 builds, in Symphony Park at a much higher price point.

What Have Homes Within a Mile of Cashman Field Sold For?

This is the original data in this guide. We pulled every MLS closing in the four ZIP codes around the site and kept the ones within one straight-line mile of the Cashman Field stadium, using the MLS coordinates. Window: closings from September 1, 2025 through August 31, 2026, counted by closing date: the latest 12 months old enough to have mostly posted. Land and vacant lots are excluded.

In that window, 91 homes closed within a mile, at a median of $349,000. That count is small, about seven to eight a month, and it mixes very different property types, so the type breakdown below is more useful than the headline. Detached houses closed 50 times at a $300,000 median, about $236 a square foot, and 48 of those 50 were built between 1940 and 1969. Duplexes through fourplexes, more than a quarter of the sales, closed 26 times at a $530,000 median. Condos closed 11 times at $405,000, ten of them in the Streamline Tower at 150 Las Vegas Boulevard North. Only four townhomes closed, at a $230,000 median, too few to lean on.

Two more signals stand out. Of the 91 sales, 61, or 67%, closed below their original list price, and the median sale spent 36 days on the market as the MLS records it. For context, according to Las Vegas REALTORS, as reported by FOX5 on October 6, 2026, the valley-wide single-family median was $470,000 in September 2026 and the condo and townhome median was $290,000. The $300,000 detached median near Cashman sits well below that valley figure, largely because the houses are older and smaller: a median of 1,290 square feet, built in 1956.

September 2026 closings were still posting when we pulled, with six recorded within the mile so far, so we left that month out rather than report a partial count.

How Do 89101, 89106, 89104 and 89030 Compare Right Now?

A one-mile circle is precise but thin, so the ZIP codes give a sturdier read. Cashman sits in 89101, which also covers downtown Las Vegas and the Fremont East blocks. 89106 runs west of downtown and takes in the Historic Westside. 89104 sits southeast of downtown and includes neighborhoods such as Huntridge. The site is close enough to the city line that part of the one-mile circle to the north falls in 89030, which is North Las Vegas.

The pattern is consistent: detached medians around the site run from $300,000 to $385,000, and more than half of the houses in every column sold below their first asking price. 89101 had the fewest detached closings of the four, partly because 79 of its 187 home closings were condos, townhomes or two- to four-unit buildings. On October 26, 2026, it had 32 detached houses for sale at a median asking price of about $350,000, with four more under contract. Our 89101 ZIP code page tracks the broader numbers month to month.

What Could 1,071 New Homes Mean for Nearby Owners?

The honest answer starts with what the records show, because no one has published a study of this site's effect on nearby values and we are not going to invent one. What the city did put on paper is a long list of physical changes.

Construction runs for years, not months. The development agreements carry a 10-year term that can vary with the pace of development, plus a possible five-year extension if the developer asks and the council agrees; staff describe the city's aim as an "expeditious buildout." That leaves room for several years of demolition, grading, utility work and home building on both sides of Washington Avenue.

Streets and traffic will change. The Cashman map conditions call for right-turn lanes and bus turnouts where the traffic study recommends them, bus shelter pad easements on Washington Avenue and Maryland Parkway, median changes on Washington Avenue and relocation of the easternmost traffic signal. The southern driveway on Maryland Parkway is limited to emergency access or exit only, and portions of Harris Avenue and Maryland Parkway right-of-way are being vacated to the project.

Few neighbors filed protests. For the Cashman items the city mailed 420 notices and logged three protests; for Grant Sawyer it mailed 75 and logged one, according to the staff reports. Some residents questioned the removal of the mature trees at Grant Sawyer, and state officials told FOX5 the trees had to go to allow proper drainage.

Day-to-day uses are ending. The operating agreement kept the Lights' lease and the Neon Museum's use of part of the parking field running only through October 24, 2026. The Lights had not said where they will play in 2027 when they played their last match, according to LVSportsBiz, and the Neon Museum's visitor page still listed Cashman Center as its overflow parking when we checked.

For a sense of how other big projects ripple through housing, our guide to Southern Nevada development projects ranks them by what they do to nearby demand.

What Is Around the Site, and What Was Cashman Field?

The site sits on a stretch of Las Vegas Boulevard North that Lennar's attorney called the "Cultural Corridor" in the justification letter filed with the city. Lennar's release says the community is adjacent to the Old Las Vegas Mormon Fort State Historic Park and the natural history museum, and the Review-Journal puts the site a little over a mile from the Fremont Street Experience, with the Arts District farther south of downtown.

According to Nevada State Parks, the Old Las Vegas Mormon Fort at 500 East Washington Avenue preserves the remains of an adobe fort built in 1855, the first permanent non-native settlement in the valley; the park is open Tuesday through Saturday, with $3 museum admission. The Las Vegas Science & Natural History Museum sits at 900 Las Vegas Boulevard North, and the Neon Museum and its sign boneyard are at 770 Las Vegas Boulevard North. All three are within a short walk of the Cashman land.

The stadium itself has a long history. According to Las Vegas Weekly, the site began as Elks Stadium, built in 1947 and later renamed for local businessman James Cashman. The ballpark most locals know reopened on April 1, 1983 after a $26 million renovation funded by the Las Vegas Convention and Visitors Authority, with 9,334 seats. It was home to the Las Vegas Stars and 51s until the team moved to Summerlin in 2019 as the Aviators, hosted the Athletics for six regular-season games in 1996, and its operations passed from the LVCVA to the city in 2017. The A's are now building a stadium on the Strip planned to open in 2028, which our A's ballpark guide covers.

Which Public Records Will Show the Project Moving Forward?

Each remaining step leaves a public trace, usually before anything appears in a sales office. These are the ones to watch, in roughly the order the records suggest:

• Ownership. The Assessor's owner field changes on 139-26-301-008 and 139-27-709-002 (Cashman) and on 139-26-201-012 (Grant Sawyer) once deeds record.
• The corner buyback. The agency's purchase of the 2.64-acre corner from Greystone is set to close within 10 days after the mapping is done, and by December 2026 at the latest, according to the agency's April 15 presentation and minutes.
• Final maps. A recorded final map on all or part of either site stops the four-year clock that started January 21, 2026.
• Permits. Grading and building permits can follow only after the traffic impact analysis and drainage study are approved.
• The first public payment. The agency's $10,207,272 lump sum is due only after grading, demolition and the first home's building permit.
• Progress reports. Each development agreement requires the developer to report progress for periodic City Council review of both parties' compliance.

Until those records move, the nearby resale market is the price you can act on. Take the $300,000 median detached closing within a mile: with 10% down, a $270,000 loan at the 7.32% average 30-year rate Freddie Mac reported in its October 22, 2026 survey comes to about $1,855 a month in principal and interest, before taxes, insurance and any HOA dues. That is an example of the math, not a loan offer. If you are weighing a future Foundry home against one available now, the wait-or-buy worksheet in The Foundry buyer checklist covers that decision, and our new construction versus resale comparison, cost of living in Las Vegas and living in downtown Las Vegas guides fill in the budget and the neighborhoods. You can also browse Las Vegas homes for sale near downtown or our first-time buyer resources.

If you want the same closing data for a street you are considering, call Nevada Real Estate Group at (702) 637-1759, or contact us with your budget and move date.

Frequently Asked Questions

What has to happen before construction can start at Cashman Field?

The land sales have to close, the stadium and convention buildings have to come down, and the city must approve a traffic impact analysis and a drainage study before it issues grading or building permits. A final map must record within four years of the January 21, 2026 approval. City staff listed an anticipated start in the first quarter of 2027; Lennar expects vertical construction in October 2027.

How many homes will be built at Cashman Field and the Grant Sawyer site?

The approved tentative maps allow 781 homes on the Cashman land and 290 on the Grant Sawyer land, 1,071 in all, every one intended for sale. The development agreements would allow up to 1,221 and 580 units, but building beyond the current maps would require new city approvals.

What have newly built homes near the Cashman site sold for?

In ZIP codes 89101, 89106, 89104 and 89030, homes built in 2023 or later closed 32 times at a $389,650 median from September 2025 through August 2026. The 10 new Rosa Point townhomes in 89106 closed between $351,990 and $416,000. Lennar has said only that Foundry pricing is planned to start in the $300,000s.

Did the City of Las Vegas sell Cashman Field to Lennar for $36 million?

The city council accepted Greystone's $36,150,000 auction bid on March 19, 2025. Closing is a separate step: in mid-October 2026, a city spokeswoman said the city expected to close the sale by the end of the year. Until it closes, the bid is an agreement, not a completed sale.

Is the Cashman project zoned high density?

No. Lennar first requested High Density Residential and R-4 zoning, but the request was amended, and the council approved Medium Density Residential and R-3 zoning 7-0 on January 21, 2026. A development agreement then sets the site's own standards for lot sizes, setbacks and building heights.

Where will the Las Vegas Lights play in 2027?

The team had not announced a 2027 venue when it played its final Cashman Field match on October 17, 2026. The city's operating agreement with Lennar kept the Lights' lease running only through October 24, 2026, and the agency minutes say site control transitions to the developer after the final game.

Who will maintain the streets inside the two communities?

The homeowners association. City conditions make the private streets and common lots association responsibilities, and if the association fails to maintain them, the individual owners are jointly and severally liable for the city's costs. The developer must record a Declaration of Private Maintenance Requirements before any home is conveyed.

Which Sources Inform This Cashman Field Guide?

Project facts come from City of Las Vegas records: the January 21, 2026 council agenda and minutes, the Cashman and Grant Sawyer staff reports, the February 4, 2026 minutes, the March 19, 2025 minutes, the first-amendment staff report, the April 1, 2026 minutes and the Redevelopment Agency's April 15, 2026 items and minutes. State facts come from the Division of State Lands notice, the governor's release and the Clark County Assessor. Lennar facts come from its October 15, 2026 release.

News accounts filled in timing and history: the Review-Journal's October 15, 2026 report, LVSportsBiz, KTNV, Las Vegas Weekly and FOX5. The new-home soil-report rule is NRS 113.135. Market context is from Las Vegas REALTORS via FOX5 and the Freddie Mac PMMS.

Method for the market figures: GLVAR MLS closings pulled through Repliers on October 26, 2026 for ZIP codes 89101, 89106, 89104 and 89030, windowed by closing date from September 1, 2025 through August 31, 2026, with land and lots excluded. "Within one mile" uses each listing's MLS coordinates measured from the Cashman Field stadium. Listing counts are as of October 26, 2026; pre-construction tower listings recorded as 2027 builds are excluded from the one-mile counts. Medians are of closed prices; distances are straight-line and approximate. The charts were built from these figures; the cover is an AI-generated illustration.