Above (L to R): Olympia Companies Executive Vice President Chris Armstrong, Southern Nevada Home Builders Association CEO Tina Frias, Senator Cortez Masto, Congresswoman Lee, Nevada Housing Coalition Executive Director Maurice Page
Las Vegas, NV – Today, in a Northwest Las Vegas community being developed from federal land into the new Skye Summit residential community, Senator Catherine Cortez Masto (D-Nev.) and Congresswoman Susie Lee (D-Nev.-03) held a press conference to announce and celebrate the bipartisan Accelerating Appraisals and Conservation Efforts (AACE) Act being signed into law – a bill they led in Congress. The AACE Act will help address Nevada’s housing crisis by cutting red tape to speed up federal land transactions and lower housing costs.
Skye Summit was once federal land and is in the process of being developed by Olympia Companies for housing, including entry-level homes. More than 3,000 homes will be built on this desert land. Model homes should be ready by the end of 2026, and early 2027.
“Now that the AACE Act is law, it will cut through red tape and make it easier to build affordable housing, to open new businesses, and to support conservation projects in Southern Nevada,” said Senator Cortez Masto. “I am grateful to Congresswoman Lee and our partners in the community who helped get this bipartisan legislation across the finish line.”
“We made a commitment to lower the cost of housing and passing my AACE Act is one step toward building housing and lowering costs,” said Representative Lee. “Thanks to a strong partnership with Senator Cortez Masto and our local housing advocates, we’re now cutting red tape to more quickly unlock federals lands for housing, conservation, and infrastructure projects at no additional cost to the American taxpayer.”
“The Southern Nevada Home Builders Association (SNHBA) is committed to working alongside federal and state policymakers to improve housing attainability, enhance workforce development, and remove barriers to homeownership,” said Southern Nevada Home Builders Association CEO Tina Frias.
“The Nevada Housing Coalition (NHC) celebrates the recent signing of the Accelerating Appraisals and Conservation Efforts (AACE) Act. This bipartisan legislation is a significant win for affordable housing development and land conservation efforts in Nevada, said Nevada Housing Coalition Executive Director Maurice Page. “NHC commends Congresswoman Susie Lee for her leadership in advancing policies that foster housing opportunities and economic growth. We look forward to collaborating with federal, state, and local partners to maximize the impact of this legislation and ensure that public land is utilized effectively to meet the needs of Nevada’s residents.”
“Skye Summit, located in the northwest part of Las Vegas, is a new master-planned community that will help tackle Southern Nevada’s housing crisis. With construction commencing in Q4 of 2025 and model homes opening in Q4 of 2026, Skye Summit will bring vital infrastructure and key transportation corridors to the area with over 3,000 homes and various amenities including community parks and walking trails,” said Olympia Companies Executive Vice President Chris Armstrong. “Thanks to the AACE Act, we can now speed up federal land appraisals, ensuring projects like this move forward faster to meet Nevada’s housing needs. We’re grateful for this vital legislation and the leaders who have made it possible, especially Congresswoman Susie Lee, U.S. Senator Catherine Cortez Masto, and Governor Lombardo, as well as our local partners like Las Vegas Councilwoman Frances Allen-Palenske for their tremendous leadership and support. We look forward to seeing how Skye Summit contributes to the growing landscape of the Las Vegas valley.”
In Nevada, more than 80% of the land is owned by the federal government. The Department of the Interior (DOI) oversees hundreds of millions of acres of public land nationwide, but before it can complete any land transactions, it must first guarantee that these transactions are done at fair market value. With growing demands, the agency has had to rely increasingly on private appraisers who can only work in the specific states where they are credentialed — unlike full-time federal appraisers, who have been able to work quickly and easily across state lines for decades.
The AACE Act will:
- Allow DOI to contract with private appraisers appropriately credentialed in any one state or territory to perform appraisal duties across all states and territories;
- Tackle federal appraisal bottlenecks that undermine housing, infrastructure, and conservation projects on public lands without spending a single additional taxpayer dollar by making more appraisers available; and
- Require DOI to continue to prioritize working with local appraisers, unlocking the enhanced flexibility provided by the bill only when no qualified and cost-competitive local appraisers are available to perform needed services.
Senator Cortez Masto and Congresswoman Lee were joined by Nevada Housing Coalition Executive Director Maurice Page, Southern Nevada Home Builders Association CEO Tina Frias, and Olympia Companies Executive Vice President Chris Armstrong.
Senator Cortez Masto has been working to cut red tape and streamline public land management across Nevada. Her bills allowing new industrial businesses to expand in Las Vegas and protecting the region’s water supply by building a critical new water pipeline passed the Senate Energy and Natural Resources Committee last year. Last year she also helped secure streamlined and improved guidance for building affordable housing on federal land under the Southern Nevada Public Land Management Act.
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