Boyd Gaming Sells Eastside Cannery Property for $28.8 Million
Boyd Gaming Corp. has finalized the sale of the former Eastside Cannery site in eastern Las Vegas Valley for $28.8 million. This transaction comes after the Clark County commissioners approved plans for a 279-lot residential subdivision on the approximately 29.5-acre site located along Boulder Highway at Harmon Avenue.
Lennar Corp., a well-known homebuilding giant, will lead the development, which includes plans for two-story single-family homes, park areas, and a trail.
This sale, completed on September 10, involved a transfer to a New York investment firm, which will act as a land banker. This means the firm will hold the land and sell individual plots to builders like Lennar as they are ready to start construction.
Notably, the sale price is lower than Boyd’s original purchase of the land, which was $45 million last year. Boyd Gaming initially acquired the land beneath Eastside Cannery before deciding to demolish the now-closed hotel-casino and sell the site for residential development, following its closure less than 20 years after opening.
This transaction marks the end of the redevelopment process for the Eastside Cannery property, leaving behind the vacant site now poised for new homes and community amenities.
