Condo Hotel Reservations Multiply

Las Vegas Homes for Sale

The Las Vegas Home Agent

The Krystle Sands -- a 45-story, 568-unit condominium-hotel tower that will be the first directly accessible from the Strip -- is progressing toward its initial groundbreaking with reservations on 80 percent of homes, according to sales agents.

The project has been approved for a 510-foot tower with JMA Architecture Studios and Perini Building Co. serving as architect and general contractor, respectively. It will be constructed on the 3.6-acre site at Riviera Drive and Las Vegas Boulevard formerly occupied by the Algiers hotel.

The Krystle Sands offers four floor plans: the one-bedroom, 852-square-foot Ruby; the dual-suite, 1,171-square-foot Sapphire; the one-bedroom, 952-square-foot Emerald; and the dual-suite, 1,329-square-foot Diamond. Prices start from $500,000 to more than $800,000.

In addition, the penthouse units on floors 41 to 44 are expected to range from 1,329 to 3,000 square feet. Priced from more than $1 million, the units are slated to be released for sale in the coming weeks.

All units are furnished with floor and window coverings and amenities such as granite counter tops, flat-screen televisions, king-size beds and high-speed Internet access.

Restaurants and retail development are planned for the first two floors of the project with a recreation center and pool for owners on the third floor. A rooftop restaurant is in development.

Owners may use their units as primary or secondary homes, or rent them in timeshare fashion. A management company will be available to oversee the rental and leasing of units.

"We are bringing a unique residential concept to Las Vegas," said F.W. "Freddie" Schinz, the developer. "If someone owns a condo unit in Florida, they want to be on the beach. If someone owns a unit in Colorado, they want to be on the ski slopes.

"In Las Vegas, we are the first condo/hotel project to offer ownership on the Las Vegas Strip."

The Algiers hotel, a Las Vegas landmark since 1953, closed Sept. 3 and will be demolished beginning in October. Furnishings inside the old hotel were liquidated with proceeds directed toward various Las Vegas-based charities. Plans for the new project call for various memorabilia from the hotel.

Schinz has been developing residential properties in Florida for 30 years. Krystle Sands is his first venture in Las Vegas.