Linked Wikipedia article points out towards the top that RFC 6762 reserves .local for mDNS (fka Zeroconf/Bonjour) multicast DNS lookups on a local area network. (Which is why you probably don't want to use .local for non-multicast DNS lookups as you may break mDNS applications.)
Personally, I prefer to go the other way and use a local environment subdomain with local stuff anyway (ie local.foo.company.com rather than foo.dev).