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Construction Resumed at Las Vegas Townhouse Site

Trust Home Builders has restarted work on a 79-unit development after years of delays and security issues.

Updated on Oct. 9, 2026 in Construction

Isometric editorial illustration of a wood-framed townhouse structure with copper pipes and wiring, signifying housing development construction.
Trust Home Builders has restarted work on the 79-unit Foundry Square at Five Points housing project in Las Vegas. AI Illustration. Upload story photo >

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Trust Home Builders recently resumed construction on a stalled Las Vegas housing project now known as Foundry Square at Five Points. The site, formerly called Eastern Avenue Lofts, had been abandoned for years after falling into foreclosure.

Why it matters

The project’s revival marks an effort to address years of site neglect that included vandalism, theft, and unauthorized occupancy. Developers hope to stabilize the area by completing the housing complex.

Trust Home Builders acquired the site for $4.8 million in 2026, significantly lower than the $5.2 million purchase price paid by Cole Moscatel in 2024. The development aims to deliver 79 townhouses with starting prices in the $380,000 range.

The players

Trust Home Builders

This construction firm is the current developer responsible for reviving the Foundry Square at Five Points project.

Larry Davis

He was the original acquirer of the Eastern Avenue project site in 2006.

Cole Moscatel

He purchased the property for $5.2 million in 2024 before it ultimately transitioned to the current developer.

Bridge Finance

This entity is a Los Angeles-based firm that acquired the property through foreclosure in 2023.

The details

Crews are currently installing new electrical, plumbing, and HVAC systems alongside drywall to salvage the previously partially built units. To prevent past issues with vandalism, the new owners have installed a remote surveillance system that alerts local authorities to motion on the property.

Timeline

  1. 2006: Larry Davis originally acquired the project site.

  2. February 2026: Trust Home Builders purchased the site for development.

  3. July 4, 2026: The site saw its last recorded security incident after new measures were implemented.

  4. Late October 2026: The first six townhouse units are expected to be ready for sale.

  5. 2029-2030: The developer anticipates a full sell-out of all 79 completed units.

Market Landscape

The reactivation of the Foundry Square site mirrors a broader trend of private developers acquiring stalled Las Vegas residential projects to address local housing inventory gaps. This move positions Trust Home Builders to capture market share in a corridor previously stifled by development failures.

Potential homebuyers in Las Vegas may see the first six units available for purchase in late October at a starting price range of $380,000. For local residents, the implementation of a new remote surveillance system aims to reduce neighborhood security concerns associated with the previously vacant lot.

The takeaway

The successful revival of this stalled site demonstrates how integrated security technology can help stabilize previously abandoned construction projects. Local buyers should monitor the phased release of these units as the developer works toward a full project completion by 2030.

Further reading

For more on local development trends, visit the Construction section.

Source note: This article includes information reported by Las Vegas Review-Journal.

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Should local governments prioritize the rapid redevelopment of abandoned construction sites in your area?