LAS VEGAS (KTNV) — After years of anticipation and numerous hurdles, the highly anticipated high-rise development in downtown Henderson is finally nearing completion. The project, known as The Watermark, has been at the heart of the city's growth plans for years, with mixed-use luxury living spaces that promised to transform the landscape of the area.
For over a year, the building’s development has been in the spotlight — experiencing construction delays, financial struggles, and legal disputes that paused the project.
A long-awaited milestone
Channel 13, who has been closely following the project, is the first to bring an exclusive behind-the-scenes look at The Watermark.
VIDEO: Channel 13's Alyssa Bethencourt gets an exclusive behind the scenes look at Henderson's newest luxury complex
The project, which began with high hopes of revitalizing downtown Henderson, encountered several setbacks along the way. The seven-story structure was delayed for nearly 14 months due to financial issues and ongoing legal disputes. At one point, the project faced nearly $16 million in debt, but after a pause in December 2023, construction resumed in February 2024.
“It's definitely a super exciting thing. It will bring a very different dynamic to the general area,” said Bailey Garrity, a representative ofGillett Construction.
What’s inside The Watermark
The Watermark has 151 luxury units, featuring everything from studios starting at $1,399 per month to two-bedroom apartments that can cost up to $3,600. Each unit showcases features like concrete counters, sleek appliances, and some have panoramic views.
Residents will enjoy access to a range of amenities, including a rooftop deck, a pool, and a wellness center to promote relaxation and fitness.
"We look at downtown, we look at Fremont, we look at the arts district. Now we’re looking at the water district,” said Jonathan Rey, Vice President of RPM Living.
While the apartments are expected to be a major draw for upscale living, the project still faces challenges. The commercial spaces within the building have not yet attracted tenants, and local business owners are keeping an eye on how this new development might impact their operations.
"This is the first I’m hearing about it being almost complete today, so bring on the people,” said Marissa Flores, a chef at Rocking Grapes.
Despite these uncertainties, some nearby residents see the project as a sign of progress and growth, while others are concerned about its potential to drive up prices in the area.
“That’s an expensive apartment building, and the rent is going to go sky-high. For people like me in low-income housing, will rent go up?” one local voiced their concerns.
On the other hand, younger residents like those in their 20s are excited about the possibilities the property brings, especially when it comes to the potential influx of people into the area.
“I like the bar scene. I like to meet new people, and I would like the younger crowd to come to Water Street,” another resident shared.
Opening Date
The development is expected to be fully open by June 2025, with official leasing announcements expected in the coming weeks.
