High Rises in Las Vegas

News and Articles

Las Vegas is moving toward the skyline.  This hot market is certainly something to consider if you like urban living or are looking for an investment.  For information about high rises currently selling, please call (702) 277-1427.

Ivana Las Vegas Luxury Condo Building put up for Sale Ivana Trump's high rise project has been cancelled, and the building was listed on a real estate web site for $49 million. A 5-acre parcel approved by the city of Las Vegas for a 900-foot tower and unlimited gaming license is listed for sale at $125 million. Smith, Hubble. "Ivana Las Vegas Luxury Condo Tower Listed for Sale" Las Vegas Review Journal 15 December 2005: 1D+.

High Rise Developments in Las Vegas: Who is Booming and Who is Busting? High rises in Las Vegas are certainly a craze around town. When I ask people if they'd like to purchase one, most people say, "Yeah, it would be nice to have one, but I'm just not sure." Likewise, if you asked some of the builders of these high rises if they'd like to build one, I'm sure I'd hear a lot of "Yeah, it would be nice to build one, but I'm just not sure." 7/4/2005

Land Prices are Getting Rid of Mobile Homes Land prices, as you may be aware, have increased significantly in the Las Vegas area. As the plans progress for the seemingly countless number of high rise developments come to fruition, land that has provided affordable housing for so long to those in mobile home parks is now catering to those who aren't looking for affordable housing. 6/13/2005

Buyers Sue Vegas Grand One of the plaintiffs in the lawsuit said he reserved a unit for $305,000 and was notified in a "new offer reservation agreement" that the price had jumped to $510,000. That's quite a difference. 5/20/2005

Aladdin Plans to Jump in on Time-Share Trend The world's largest privately held time-share company plans to build a 52-story time-share tower at the Aladdin, the company announced. Westgate Resorts of Orlando, FL expects the first phase of the 800-unit project to be completed for New Years' Eve 2007. The tower is planned to be located on 4.5 acres on Harmon Ave., east of the main entrance of the Aladdin. Velotta, Richard N. "Aladdin Plans to Jump in on Time Share Trend." In Business Las Vegas 15 April 2005: 24.

Analysts Predict Condos Will Provide Lift for Casino Visitation- Some critics contend that luxury condominiums being built throughout the Las Vegas Valley should help drive additional traffic to casinos, not slow it down, as other critics believe. Perhaps owners of these condos will visit more often than if they had to pay to stay in a hotel. Even with new hotel rooms and condo units driving up the number of Strip rooms to between 169,500 and 173,700 units- up from the existing 131,000 rooms, revenues shouldn't sag becuase people will still be eating at the restaurants and enjoying the gaming and entertainment. Velotta, Richard N. "Analysts Predict Condos Will Provide Lift for Casino Visitation." 15 April 2005: 3+.

Ambitious Condo Complex Planned for Southern Valley Diversified Real Estate Group unveiled plans for a $1 billion, 2,400 unit condominium development on Las Vegas Boulevard South. The 50-acre project will be called Urban Village. The project will be located on Las Vegas Boulevard South and Pyle Ave. The same developers have also announced plans for Manhattan Condominiums and Club Renaissance in Las Vegas. Jimmy Foster, director of marketing for Diversified Real Estate Group says of the south Strip, "The south end will be the hottest part of the city in the next five years." He expects that lower prices will attract local professionals. Shubinski, Jennifer. "Ambitious Condo Complex Planned for Southern Valley." In Business Las Vegas 15 April 2005: 6.

Turnberry Towers Readies for Sales Turnberry Place recently completed new sales for its fourth and final 40-story tower, which is under construction and expected to open in 2006. "The high-rise boom that we helped create and the movement towards urban living has contributed to our strong sales. I anticipate there will be a very strong demand for Turnberry Towers when we introduce it to the market in March." 2/5/2005

Builder Sees Condo as "Destiny" Langson said he's not concerned about the 17,000 luxury condo units that are in various planning stages for Las Vegas. In October, at a forum of high-rise developers, he said the market is 20,000 units deep and now he sees a backlog of 25,000 units."The market is so huge," Langson said. "The world comes to Las Vegas at a faster and faster speed. That creates a new flow of energy, there's that frenzy going on." 2/5/2005

New Hotel Offers Buyers a Royal Proposition A 234-room hotel located right off the Strip, Royal Resort is planning to break ground on its $250 million project within the next 90-120 days to add up to 796 rooms to its inventory, which the company will offer to consumers as timeshares, hotel-condominiums or straight lodgings. 1/17/2005

Commissioners Approve High-Rise Condo Developments On Wednesday, Clark County commissioners approved eight high-rise condominium projects that include office, recreational and retail areas. The so-called urban villages are expected to reduce traffic and help air quality by giving residents a concentrated area to work, play and relax. But they are presenting another challenge. 2/3/2005

Residences at MGM Grand Pass Halfway Point in Sales Las Vegas Review Journal 1/30/2005

Summit Tower in Las Vegas Gets Approval The federal government has approved the 73-story, 923-foot Summit high-rise condominium project on Sahara Avenue, which would make it the second-tallest building in Las Vegas. "You are looking at the tallest (residential) tower Las Vegas will ever see, unless another similar super tower comes along in the shadow of the Stratosphere," Australian developer Victor Altomare said. 1/27/2005

New Michael Jordan Aqua Blue Condo-Resort Unveiled Michael Jordan is teaming up with Ellis Island Casino & Brewery to build the 825-unit condominium project "Aqua Blue." The project will include a 65,000 athletic center. 1/24/2005

Spanish View Promises Luxurious Lifestyle A three-tower residential project brings together a suburban setting, unobstructed views of the Las Vegas Valley, and homes measuring more than 2,500 square feet, according to Jeannine Cutter of Cutter and Berg, Prudential Americana Group, one of the listing agents for Spanish View Tower Homes, a 15-acre, guard-gated high-rise residential property. 1/9/2005

Trump Adds Tower With more than 80 percent of the condominium units in his planned Trump International already reserved, developer Donald Trump said Monday he and New Frontier owner Phil Ruffin will build a second 64-story tower behind the Strip resort across from the Fashion Show mall. "Sales have been phenomenal because people like the product we're offering," Trump said by phone from his home in Florida. "With sales going so well, we're moving ahead with plans to build an exact twin to our first tower. It will be just as spectacular as the first building." 1/4/2005

Streamline Condos Starting Soon Martin-Harris Construction has cleared the 1-acre site of the former Golden Inn motel in downtown Las Vegas and will start building the 21-story Streamline Tower soon. The $110 million high-rise condominium project at Las Vegas Boulevard and Ogden Avenue will have 14,000 square feet of mixed-use retail on the bottom floor and 251 units priced from the high-$300,000s to more than $900,000. 1/3/2005

High-Rise in High Style The proliferation of luxury high-rise residential developments in Southern Nevada can be traced to the success of Park Towers and Turnberry Place. Both were pioneers in the unprecedented vertical growth that flourishes today in the Las Vegas Valley. There are roughly a dozen high-rise projects planned or under construction, particularly in downtown Las Vegas and on the Strip. 1/1/2005

Spanish View Tower Opens for Presales Developer Rodney C. Yanke and his sales team say a touch of class and high-quality amenities will set the Spanish View Tower Homes apart from other high-rise residential developments. The sales staff said the tour allows potential buyers to appreciate the homes' upscale features, such as imported Italian marble and 11- or 12-foot ceilings. 1/1/2005

$1.5 Billion Cosmopolitan Project Unveiled The Cosmopolitan is coming to Las Vegas. The two 53-story glass towers will be located at Las Vegas Blvd and Harmon Ave and is scheduled to break ground in early 2005. The project has already received county planning approval. The towers will house 2,400 timeshare, condominium and hotel units ranging from 600-900 sq ft in addition to a 70,000 sq ft casino. 12/20/2004

Newport Lofts Planned for Downtown Las Vegas Newport Lofts are just another of the projects planned for downtown Las Vegas. Newport Lofts will be situated on a half acre lot at the northeast corner of Casino Center and Hoover Boulevard. The 335 ft tall will have a blue-tinted glass exterior and 23 stories. The project calls for 168 condominium units with ten different floor plans and six stories of enclosed parking. The lofts are scheduled to break ground in late May 2005. 12/20/2004

Metropolis Tops Off The Metropolis High Rise in Las Vegas was recently topped off at the corner of Debbie Reynolds Dr and Desert Inn Rd. Situated on a 60,000 sq ft lot, the high rise will contain 71 condo units and a 3 level parking garage. The project is scheduled to finish by summer 2005. 12/20/2004

Builders Have Lofty Aims for Downtown Condos Derrick, vice president of development and acquisitions for Seegmiller Partners, said his firm has already been approved by the planning department and City Council for the 23-story Newport Lofts at Casino Center Boulevard and Hoover Avenue in downtown Las Vegas. The 335-foot building will offer 168 loft-style floor plans from 900 square feet to 1,600 square feet, priced from the $300,000s to $700,000s. Two-story penthouse suites range from 1,700 to 3,000 square feet, starting in the $900,000s. 12/18/2004

Icon Developer Familiar with High Rise Projects On Tuesday, Perez talked about Icon, the 502-unit high-rise luxury condominium he plans to build on Convention Center Drive, east of Ross Dress for Less. Two towers will stretch more than 500 feet into the Las Vegas skyline and all units will face the Strip. They're priced from $500,000 to the millions, with most of them in the $600,000 to $700,000 range, Perez said. A modern, all-glass design will distinguish Icon from more "traditional" high-rises such as Turnberry Place, he said. 11/24/2004

Developers release details of Strip casino dubbed Cosmopolitan The Las Vegas-based developer on Monday announced new details of its planned 4 million-square-foot mixed-use project, most notably its name -- the Cosmopolitan Resort & Casino. The project will have more than 2,400 rooms, including standard hotel accommodations as well condo/time share units; more than 150,000 square feet of convention space; a 70,000-square-foot casino; an 1,800-seat theater; and more than 300,000 square feet of retail, restaurant and entertainment space. 11/23/2004

Feasibility of High Rise Development Debated "The issue is more a question of supply than demand," Friedman said. "There's so few (development) opportunities and it's very expensive to buy land on the Strip and to build any residential project is very challenging because of those economics. If people have the opportunity to live on the Strip they'll jump at it." 11/19/2004

Project City Center Will Offer New Resort Concept 11/12/2004

Baby Boomer Growth Drives Urban Mixed-use Development The baby boomer demographic, or those born between 1946 and 1964, will account for 33 percent of total homeowner growth between 2000 and 2010. Developers are tailoring their product for the baby boomer generation - the wealthiest group of elderly in history. Nearly 45 percent of baby boomer households are interested in denser resident communities with a combination of retail, restaurants, and office spaces, according to a recent survey. 11/14/2004

New MGM Mirage Project Reflects Growing Urban Mixed-use Trend MGM Mirage's new "Project City Center," the recently announced "city within a city," reflects the growing trend of urban mixed-use lifestyle developments targeted toward the baby boomer generation or those people born between 1946 and 1964. Although only 20 percent of the population, baby boomers control 40 percent of the nation's disposable income and 77 percent of its private investments. 11/15/2004

The City of MGM Mirage Unlike the construction of themed casinos, which try to recreate historical or international destinations, MGM Mirage's multi-billion dollar development aims to produce a 21st century urban district akin to Greenwich Village in New York City or Haight-Ashbury in San Francisco that will bring the company into the business of urban planning and potentially take the casino industry to the next stage of its evolution. "This is the largest development project in the United States at this time," says Jim Murren, president and CFO of MGM Mirage. "No one has embarked on a development [of this scale] in this town. It's hard to equate it to anything. We are going to be leaders in the reshaping of the valley into a global market." 11/15/2004

City Center at Center Stage for Strip Insiders, analysts say MGM Mirage's bold new project is a sign of what's to come in LV. With its announcement last week of an 8,000-room "urban village" in the heart of the Strip, MGM Mirage is moving boldly where no casino company has gone before to define the future for Las Vegas and the gaming industry, industry insiders and analysts said Friday. "Others will follow, but no one else will have the critical location -- and we'll have the chance to snag the best in terms of hotel brands and retailers," he said. "Having the best gives us a chance to trump -- you'll excuse the expression -- anyone else who comes to market (with similar concepts)." 11/14/2004

Condo Building Presents Special Risks, Experts Say High-rise condominiums are all the rage in Las Vegas lately, but for most working-class citizens, the hefty price on these luxury units creates a huge obstacle. Edelstein said buyers reserve their units at Manhattan with a 2.5 percent refundable payment and then convert to contract with another 2.5 percent payment, which becomes "hard money," or money that won't be refunded. 11/14/2004

Las Vegas Housing Market: Looking Up Developers Wonder about Depth of Local High-Rise Condo Market 11/14/2004

Loft 5 Condos to Blend Minimalist Design, Maximum Style Loft 5 is just one of the condo developments in the plans for Las Vegas. The 272-unit complex will offer single and two-story plans with amenities including a fitness center with sauna and steam rooms, spa services, full-service concierge, lounge, 2 swimming pools, fire pits, gardens, business center and private screening room. 11/13/2004

Hard Rock Unveils $1 Billion Hotel-Condo Expansion The Hard Rock announces plans for a 1,500 unit hotel-condo complex. 10/25/2004

Planning Commission Gives Thumbs Up to 73-Story Tower  (Summit Tower) Plans for what would be Las Vegas' tallest residential building have been approved. The 73-story Summit Tower would reach skyward 863 feet. Mayor Oscar Goodman said "I'd like to see it higher." 10/8/2004

JMA-Designed Project to Loom over Strip  (The Summit) The Summit is set to eclipse Donald Trump's recently announced 64-story 645 foot hotel and condo project. The Summit will be a $700 million single tower of 960 condominiums. 10/1/2004

Condo-Hotel Reservations Multiply (Krystle Sands)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. "In Las Vegas, we are the first condo/hotel project to offer ownership on the Las Vegas Strip." 9/25/2004

Hard Rock Plan Calls for Condos The Hard Rock plans to build a 1.5 million sq ft hotel and condo project on the land adjacent to the Hard Rock Hotel in Las Vegas. The project is designed to be a mixed-use, master planned development. Current plans call for four buildings and at least 1,500 hotel-condominium units. Construction is slated to begin in 2005. 9/25/2004

SoHo Lofts Developer Opens Model Downtown Las Vegas has recently undergone redevelopment planning, where different "districts" will identify sections of the downtown area.  SoHo lofts, planned to be the first residential high rise downtown, is located in the Arts district. 9/20/2004.

Condo Towers Trimmed Paramount Professional Plaza in southwest Las Vegas has to reduce its size because Clark County commissioners and residents believe that 300 feet is too high. 9/9/2004

Plans announced for Sky Las Vegas Las Vegas is moving toward the sky line, illustrated by plans for Sky Las Vegas, a 40-story luxury high rise residential development planned for the Las Vegas Strip. The development is planned to have about 350 units. Construction is scheduled to begin during the first quarter of 2005. 8/1/2004

Las Vegas Adds to Credentials as High Rise Haven Chris DelGuidice has yet to break ground on Vegas Grand, a $425 million mid-rise condominium project near Flamingo Road and Swenson Avenue, and he's already planning a larger development in Las Vegas. One Las Vegas, a $500 million, 50-story luxury condominium development, is planned for 10 acres on Hugh Hefner Boulevard next to the Palms. 9/16/2004

Designs to reach for sky, panelists say Building materials, skilled labor and land availability are the main issues facing developers in Las Vegas, a panel of general contractors and architects believes. "If developers can't get the rental rates that are required to make it pencil, you're going to see a slowdown," said Gary Congdon, an architect with Lee & Sakahara. "I've got projects in my office suspended because they can't get the rents. It's all about land and the cost of land. That's what it comes down to." 7/20/2004

High Rise Boom Possible for Las Vegas There's plenty to buzz about with 50 high-rise projects, totaling 82 towers, announced or on the drawing boards. With 50 high-rise projects planned, even a 50 percent success rate would represent a high-rise boom by Las Vegas standards. If all are built it would double the number of existing high-rise towers.

Del American Plans Condo-Resort Tower

MJ Dean Builds the New Panorama High Rise Tower Situated on 10 acres, the first phase of the Panorama Towers consists of a 32-story, 250-unit condominium building. The Panorama Towers are scheduled for completion in 2006. 7/26/2004

Perini Builds the $400 million Krystle Sands Condo-Hotel A new $400 million, 600-unit condominium-hotel called Krystle Sands is planned to be built at Riviera and Las Vegas Boulevards. Each condominium comes fully furnished. Their motto is "to own a piece of the Strip." The 510-ft tall Krystle Sands will offer several amenities.

 

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