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Las Vegas is growing, there 's no doubt a bout that. The skyline of Las Vegas is going to be much differernt in 2015 than it does now.

In reference to the downtown redevelopment, Las Vegas Mayor Oscar Goodman said in Septmeber 2004 "There is no limitation on height. I want it to be very dense. I want people to live down there."

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Downtown Redevelopment

Home Owner Associations (HOA)

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City News: North Las Vegas Henderson Pahrump or Boulder City

BLM in Southern Nevada

Experts Grappling with High Suicide Rate In Nevada, 480 people took their lives in 2005, a 9.7% increase from the previous year. The national average in 2003, the last year for which comparison figures are available, was 10 suicides per 100,000 people. That year Nevada's rate was 19 per 100,000, which placed the state fourth nationwide. "Experts Grappling with High Suicide Rate." Las Vegas Sun 27 March 2005: 1+.

Builders Use Special Improvement Districts to Fund Some Construction Home buyers can expect to pay $250 to $900 in semi annual assessments for special improvement districts (SIDs), which can issue municipal bonds that developers use to fund early construction of the early infrastructure of their projects. SIDs are typically amortized over 20 years, although the law was changed during the last Legislature to allow 30-year amortization of the bonds. SIDs help pay for the sidewalks, curbs, streetlights, traffic signals, drainage systems and underground utilities. Smith, Hubble. "Master-Plan Premium" Las Vegas Review Journal 19 November 2005: D1+.

11/17/05 BLM Auction Summary- some of the smaller parcels sold at the 11/16/05 auction went for more than $400,000 per acre. The largest parcel went to Olympia Group (Southern Highlands) for a North Las Vegas parcel. A development agreement with the city of North Las Vegas, including density zoning, will have to be finalized before any work begins on the communities. Smith, Hubble. "Land Prices Continue to Surge at BLM Auction" Las Vegas Review Journal 17 November 2005: A1+.

New Subdivision Would Cost Tax Payers An Additional $30 Million The city's environmental officer blasted Tuesday a deal that would

allow a developer to turn a golf course next to the city's sewage treatment plant into a 1,200-home subdivision and said it will cost taxpayers an additional $30 million. The proposal for the Royal Links Golf Club has been questioned. According to a November 2005 article in the Las Vegas Review Journal, Lori Wohletz, the city's environmental officer stated that "To jeopardize that (sewage treatment) facility's compliance to make one person richer, who's already rich, makes no sense to me." Schwartz, David McGrath. "Official: Deal Will Cost City" Las Vegas Review Journal 16 November 2005: A1+.

Housing Authority Investigation The Clark County Housing Authority spent about $1.5 million it didn't have, forcing at least 40 families to wait until the agency balances its books to get rental assistance they were promised. Carl Rowe, interim executive director for the housing authorities, said if the Section 8 program where the problem was found is not made financially solvent by early 2006, he will have to "terminate as many families (in the program) as we need to get to zero." In addition, it was found that employees weren't keeping current with duties such as evicting rule-breakers as required by law. Pratt, Timothy. "County Errors Costly to Families" Las Vegas Sun 14 November 2005: page 1+.

Suburban Growth in Southern Nevada will cost the average resident $72,697 over the next 25 years in commuting costs and added government services. "Clark County is so large, so spread out, and of such low density that every section is considered a sprawling suburban location." Young, Samantha. "Suburban Growth Has Price" Las Vegas Review Journal 14 November 2005: B1+. ee

Aliante is projected to have 20,000 residents when it is built out with 7,000 homes. Eldorado, when it is complete, will have about 18,000 people in 5,500 homes. Wargo, Brian. "A CIty's Growing Pains" Las Vegas Sun 13 November 2005: 1+.

Unemployment Tax to Stay the Same in Nevada in 2006 Despite forecasts of a continued economic boom, the Nevada unemployment tax will remain unchanged in 2006, the state Employment Security Division decided. The average rate for state unemployment tax is 1.38 percent this year. During 2005, the state is expected to add 68,000 new jobs at an annual growth rate of 6.2 percent. That is by far the biggest growth rate in the nation and compares with a national average of 1.7 percent. Vogel, Ed. "Tax Rate Won't Change" Las Vegas Review Journal 10 November 2005: D1+.

Apartment Conversion Ban Dies A proposal to stop apartments from being turned into condos died after the development community argued the city should not interfere with the free market. Out of 50,172 apartments in Las Vegas, 7,029 have been converted or approved for conversion to condos. McGrath Schwartz, David. "Apartment Conversion Ban Dies" Las Vegas Review Journal 3 November 2005: B1+.

October 2005 Nevada BLM auction for $24.5 million- 80% of the proceeds of will be spent in Nevada to purchase environmentally sensitive lands. Four percent goes to Nevada schools. "Land Sales Exceed Appraised Value" Las Vegas Review Journal 29 October 2005: 6B.

Pahrump Construction Defect Case Settled The first condo construction defect lawsuit in Pahrump was settled for $6.3 million. The 32-unit Big Horn condos that were built from 1996-1998 will have to be demolished because of collapsible soil. Big Horn Homeowners Association filed the lawsuit against Tri-Shamrock Contractors and Big Horn LLC in Nye County. Smith, Hubble. "Pahrump Construction Defect Case Settled for $6.3 Million" Las Vegas Review Journal 27 October 2005: 2D.

In the Las Vegas market, the average apartment rent last month (Sept 2005) stood at $813, a 6.1% increase from last year. Through June 2005, the average home price in the Las Vegas market had increased by 27%, according to federal mortgage regulators. The only other major Western markets where apartment rents have increased by more than 4% were both in Southern California. 10/20/2005

Plan Calls for 3,800 Houses Near Boulder City A new community designed for teachers, nurses, police officers,firefighters and others who are being priced out of the Las Vegas housing market. The developer wants to build on 700 acres of private land near the junction of US Highways 93 and 95, just outside Boulder City limits. He plans to set aside 2,000 homes for teachers and other public employees. Brean, Henry. "Residents Cool to Project" Las Vegas Review Journal 12 October 2005: B1+.

An online source was referenced in the Las Vegas Review Journal regarding foreclosures. There were 8,556 homes in Clark County that went into foreclosure in 2004, compared with 17,304 in Arizona and 42,426 in Southern California. Smith, Hubble. "Investors Watch Foreclosure Rate" Las Vegas Review Journal 2 October 2005: E1+.

Eldorado Project Faces Battle A homebuilder wants to create a community about half the size of Boulder City just a few miles from the town, and Boulder city is set to fight it tooth and nail. American West Homes is proposing construction of 3,800 homes on 720 acres in Eldorado Valley, west of US 95. Wargo, Brian. "Eldorado Project Faces Battle" Las Vegas Sun 8 October 2005: 1 +.

Plan for Wal-Mart next to BMI raises questions of safety Wary of potentially putting people in harm's way, Clark County officials have limited development near an industrial area where accidents in the late 1980's and early 1990's killed two and injured hundreds. Henderson is considering reversing that policy. The city is studying a plan to put a 73-acre regional shopping center with a Wal-Mart Supercenter and Sam's

Club on the edge of the Basic Management Inc. site, where four companies still store and use hazardous chemicals. Wargo, Brian. "Plan for Wal-Mart next to BMI raises questions of safety" Las Vegas Sun 5 October 2005: 3.

Trump Says Real Estate Values Will Continue to Rise Real Estate developer Donald Trump says that real estate values will continue to increase because of low interest rates and strong demand from overseas buyers. 9/21/2005

The Craig Rd retail corridor is expanding North Las Vegas, which has ranked as high as number 2 on the list of fastest-growing U.S. cities over the last few years. Business Properties Group is developing the 113,000 sq ft Craig Promenade on Craig Rd near Revere, which has a price tag of $14 million. The center will be anchored by a Big Lots and that 60% of the remaining space is under lease negotiations. North Las Vegas is getting about 1,000 new residents per month, and about 44,000 cars a day pass by the new development. 10/3/2005 Las Vegas Review Journal

East Village: ACV International has acquired a leasehold interest in a 4-acre parcel at Tropicana and Paradise that is currently owned by McCarran International Airport. The company plans to build a mixed-use retail, entertainment and office development. 10/3/2005 Las Vegas Review Journal

Henderson Doesn't Want any More Payday Loan Centers- Councilman Jack Clark made it clear to proposed loan businesses that he doesn't like the business they are in, but without rules to back him up, he had no choice but to approve the city's 30th and 31st payday loan centers. Payday loan centers are already banned in Henderson's downtown redevelopment area. In July of this year, a new state law went into effect that prohibits payday loan companies from granting loans of more than 25 percent of a customer's estimated monthly gross income and caps the interest rate on defaulted loans at no more than the prime interest rate, plus 10 percent. Brean, Henry. "City Targets Businesses" Las Vegas Review Journal 12 September 2005: 1B+.

Sales of Las Vegas homes have increased nearly 25% from a year ago, although building permits have dropped about 15% in the same period. The jump in sales is driven by condo conversions that don't require permits, according to a September 2005 article in the Las Vegas Review Journal. The median price of a new home was $292,614, a 12.7% increase from the same month (Aug) a year ago. 9/21/2005

September 1, 2005 was a valuable day to any consumer: federal law allows individuals to get free copies of their credit reports once a year from each of the major credit reporting agencies. The official web site for obtaining free reports is www.annualcreditreport.com or you can call (877) 322-8228.

How Builders' Stocks Reflect the Real Estate Market Just because a housing decline exists in one market, then, obviously it won't affect other markets in the same way. However, purchasing the stock of a builder who operates in both areas is the underlying valuation factor when researching and purchasing stocks. 8/28/2005

North Las Vegas is the nation's second-fastest growing city of more than 100,000 The city has 73 actively selling subdivisions, and it is capturing 25 percent of all foot traffic through model homes in the Las Vegas Valley. John Restrepo of Restrepo Consulting Group said the North Las Vegas will expand from 163,000 residents in 2004 to 265,000 residents by 2010. Land availability is an important reason for the growth, in addition to the nation-leading job creation of the Las Vegas valley. He also said that the industrial vacancy rate is at "virtually full occupancy." Robison, Jennifer. "Growth Not Only Priority of NLV" Las Vegas Review Journal 27 August 2005: D1+.

Condo Flippers Beware The most common mistake new flippers make is assuming that all transactions will result in long-term capital gains and be taxed at 15 percent or less. They're often not aware of the trade or business provisions subjecting them to additional taxation and they don't properly track all of the related expenses in acquiring, refurbishing and selling a property, according to an August 2005 article in the Las Vegas Review Journal. Smith, Hubble. "Officials: Condo 'Flippers' Beware" Las Vegas Review Journal 27 August 2005: D1+.

Opinions on Light Rail System Vary For people living within one mile of the proposed route, 70.9% support the line, but that figure falls to 59.7% for those people living within a quarter-mile of the planned rail system 6/24/2005

Las Vegas Housing Prices Expected to Keep Climbing One reason for the difference is because the number of building permits have decreased over the last year. When you have fewer permits-less supply- it's easier for demand to outpace it. 6/24/2005

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

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. Velott

a, 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

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

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

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

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.

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.

Las Vegas Apartment Market on Fire "Last year's numbers... were so spectacular that they will influence the Las Vegas rental market for the next couple of years" 5/7/2005

Apartment Market Sees Negative Inventory There were 913 apartment complexes sold last year, totaling 37,0005 units, a 112

percent gain over 2003. That represents nearly 20 percent of Southern Nevada's total inventory. High density apartment complexes with 100 units or more experienced the greatest gain of all product types, accounting for $2.1 billion worth of sales activity, Belnick says. High land values are prompting developers to tear down apartment complexes for more profitable projects. 1/31/2005 Las Vegas Business Press

Condo Conversions: Who is Benefiting, and Why? Developers and apartment owners are pursuing an avenue that, while not new, has reshaped the residential landscape. Apartment conversions have paved their way into Las Vegas and satisfied a necessary housing niche. As the supply of apartments dwindles at an astonishing rate, so does the supply for rental properties. The following article is useful in understanding some of the fundamentals driving the condo coversion market in Las Vegas. 1/10/2005 Las Vegas Business Press

Speculation in Housing Worries Experts: Increased Number of Nonoccupant Buyers Leaves Economists Uncertain About Values Normally, investors account for 4 percent to 6 percent of all sales. But last year, estimates are that investors accounted for twice as

many sales as usual. "In some places, it's up to 20 percent," said David Seiders, chief economist at the National Association of Home Builders. Finished or not, neighborhood prices generally hold up under the weight f only a few investor sellers. But if too many houses are on the market at any one time, prices tend to become depressed. And if that happens, the bottom could fall out and a panic could ensue. 1/30/2005 Las Vegas Review Journal

Interest Only Loans: Boon or Bust? Interest-only loans may be good products for some homeowners, analysts agree, but, for others, they can become a financial black hole. Here's what makes them attractive. With these mortgages, borrowers start out paying only the interest on the loan for a fixed period. After the agreed-upon period elapses, the loan changes into a traditional mortgage with the borrower paying both principal and interest. The interest rate will be set at the then prevailing interest rate, which may be higher or lower than when the loan was issued. 1/30/2005 Las Vegas Review Journal

Investors Help Increase Apartment Sales to Record Level Las Vegas apartment sales soared 163 percent in dollar volume last year with record-breaking gains reaching all segments of the market, according to Michael Belnick of RE/MAX Central Commercial Real Estate. 1/29/2005

Las Vegas Review Journal

Apartments Becoming Hot New Property in Las Vegas As many developers and entrepreneurs consider apartment-to-condo conversions the newest way to make a buck in Las Vegas, the market has been saturated with people looking for properties to buy. And buy they have, taking many apartment properties off the market in record numbers. 12/17/2004

Insurance Liability Deemed Condo Conversion Hurdle Some 12,000 apartment units are mapped for condo conversions and roughly one-fourth of sales of larger, quality apartments were for conversions, said Christopher Bentley, principal of the Bentley Group in Las Vegas. "We're on a new frontier of condo conversions because the law hasn't caught up to it yet," Dillion said Friday at Mealey's Construction Defect and Mold Litigation Conference at Lake Las Vegas. 12/11/2004

Las Vegas Housing Outlook Called Bright Reports about the demise of the Las Vegas housing market have been "greatly exaggerated," as Mark Twain would say. With 6,000 new residents moving to Las Vegas each month for the last 10 years and a below-4 percent unemployment rate, the outlook for the housing market in 2005 remains bright, said Mike Castleman, executive vice president of Metrostudy in Ladera Ranch, Calif. "There is no bubble and this market is not crashing," Castleman said. "At the end of the day, Las Vegas is still a good market." 12/3/2004

Nevada Developers Race to Make Land Deals in Arizona Mardian's community will be about 26 miles south of the dam. Currently, it would take motorists more than an hour to make the trip from Las Vegas. "I think at this point it would be very easy to suggest that Kingman will be a bedroom community, but it's not going to be overnight. It's going to take some time," Smith said. "We're looking at the guy in Green Valley who wants to pay $30,000 to $40,000 less than they are now," said Mardian, who will begin developing his community shortly before the bypass is finished. 12/3/2004

Census Data Back Nevada's Business-Friendly Reputation Nevada's reputation as a business-friendly state got another boost Tuesday with the release of new Census Bureau data showing it had the highest growth rate for small "nonemployer" businesses in 2002. Nationwide, receipts from nonemployer businesses totaled $770 billion in 2002, a 5.5 percent increase from the previous year. 12/1/2004

Investors Snag Apartments Eagle Real Estate Group of California has a goal to reposition properties and produce above-market returns. Last year, there were a record 43 sales of major apartment buildings (100 or more units) and the number is up to 65 so far this year. The flurry of sales activity was spurred by reports that apartments being converted into condominiums will deplete the market of more than 10,000 units over the next two years. 11/13/2004

Record Increases in Clark County Property Taxes The taxable value on land increased between 20 percent and 50 percent during a year-long period ending June 30. Land values, which skyrocketed during a 10-month period beginning a year ago, are based on home sales. 11/9/2004

Mortgage Insurance Deduction Falls Short the capital gains rules to narrow the loophole that allowed some savvy investors to turn commercial property gains into tax-free home sale gains. 11/6/2004

Pre Loan Contract Helps Sort out Contingencies You've probably heard of a prenuptial agreement that defines how assets are owned if and when a marriage dissolves, but if you're not married to the person you're purchasing real estate with, the solution is called a pre-mortgage agreement. 11/6/2004

Investors Heating Up Apartment Market "The prices for those properties, from $43,000 to $60,000 a door, is a steal when compared with California's prices" In Business Las Vegas 11/5/2004

3rd Quarter 2004 Apartment Sales Sizzle Southern Nevada's population boom coupled with rising home prices, out-of-state investment money and resort expansions have resulted in a sizzling apartment market. There has been $1.575 billion worth of apartment sales year-to-date through the 3rd quarter, a 139% increase over last year. 23,900 units have sold through the 3rd quarter 2004 compared to 12,427 units in 2003. Las Vegas Business Press 11/8/2004

Small-business hiring, pay surges Expert: Statistics show more people finding employment in Silver State "Approximately 98 percent of businesses in our state are small businesses" with fewer than 100 employees, according to the Nevada Commission on Economic Development survey. 11/6/2004

Insurance Protects Investments What is hazard insurance and why do I need it to get a mortgage? Do I need to purchase death/disability insurance when I get a mortgage? 11/6/2004

NLV Proposal Opposed- City Manager Wants all Properties Inspected North Las Vegas officials plan to introduce a rental inspection program that would charge landlords $50 per unit and require inspections of every rental property in the city. The proposal is aimed at improving the safety and health of people living in rentals and stabilize property values. Under the plan, landlords would be given 14 days notice for inspections and up to 90 days to correct violations. 10/20/2004 Las Vegas Review Journal

Reverse 1031 Property Exchange Offers Flexibility by Robert Noggle of Southwest Exchange Corp The reverse exchange is just one of your options when choosing a tax-deferred exchange of investment properties. A reverse exchange requires an intermediary and an exchange agreement. Financing the purchase of the replacement property requires careful planning. 9/2004

Investors Make Quick Gains Righting Poorly Managed Properties What makes one property thrive and another falter? Many savvy real estate investors are capitalizing on under-managed properties and turning them around for a healthy profit. In Business Las Vegas "Pacesetters" July 2004.

Arranging a Rent Back Various scenarios can force sellers into a rent-back situation. This is when the homeowner sells the property but

does not move right away and strikes a rental agreement with the new owner to stay in the property for a designated period of time. 5/14/2004

Las Vegas Apartment Sales Soar The skyrocketing apartment sales can be attributed to roughly 8,000 units being converted to condominiums creating a negative inventory, plus an underappreciated real estate market, Belnick says. And despite rising rents, vacancy rates continue to drop. "We think there is going to be a 6 percent increase in apartment rents by the end of this year," says Spenser Ballif, an apartment specialist with CB Richard Ellis. "We are seeing interest rates are going up while new supply is actually going down. It will mean reduced concessions with all of these free rent and move in specials going away." 5/10/2004

LV Apartment Vacancy Down in 2003 Apartment vacancy in Las Vegas declined to 7.6 percent at the end of last year, compared with 9.2 percent in January 2003, according to a report from CB Richard Ellis. 2/28/2004

FICO Score Requires Attention The scores are based on algorithms that cover 22 variables related to 5 segments of a person's credit history. Most important is payment history, which accounts for 35% of the final score. 4/16/2005

Common Home Purchasing Mistakes When purchasing a home, especially if it's your first time, there are some precautions you can take to make sure you set yourself up for a smoother purchase. According to a March 2005 article in the Las Vegas Review Journal, there are some common mistakes that home buyers and home owners make. Here are 10 and how to avoid them 3/26/2005

Low Payments May Prove Risky A recent report from a Wall Street company suggests that some low-payment loans in today's hot housing market could prove to have conseqences for those who do not fully understand the risks they entail. In some cases, these loans

can push some consumers into payment shock, default and foreclosure practically overnight. 2/5/2005.

Few Grasp Concepts of Loan: Owners Have Much to Save by Understanding Principles of Interest Homeowners have much to gain from understanding why their mortgage payments are set up the way they are. They would also become clear about why they pay as much interst as they do every month, and exactly how the interest is computed. In many ways, having a mortgage is like having a brand-new loan every month. 1/30/2005 Las Vegas Review Journal

Hybrid Mortgages Offer Creative Financing Terms What kind of mortgage is best- fixed rate or adjustable rate? The answer to that queston is

different for different people, but it probably explains why adjustable-rate mortgages are popular and why "hybrid" adjustable mortgages are today's rising stars. "Hybrid ARMs provide consumers with the comfort of knowing that the interest rate will be fixed over the first five years of the loan." 1/30/2005 Las Vegas Review Journal

Past Due Loans Slip in Nevada The percentage of residential mortgage loans that were past due in the Silver State fell to 3.37 percent at the end of the third quarter, down from 4.84 percent a year ago, the association reported. The percentage of residential mortgage loans that started foreclosure proceedings was 0.22 percent, half the level from a year ago. "The homeowner is much more reluctant to let a home go into foreclosure, because of that they have equity in the home," Puhl said. "In addition, the built-up equity allows to them to refinance and bring any loan delinquency current." 12/10/2004

Credit Woes Mean Higher Interest Rates Obtaining a home loan is possible even with extremely poor credit, however, your credit problems will label you a risky borrower in the eyes of a lender. Not all lenders choose to lend to risky borrowers. 11/27/2004

Quick Sale May Prevent foreclosure- A foreclosure is worse than a bankruptcy on your credit record, as far as any future mortgage is concerned. Is a reverse mortgage a good thing? 11/20/2004

HUD Issues Gain Post Election Clarity What were the two biggest home-buying and morgage issues affected by the recent election? One was settlement cost reform and the other was Fannie Mae and Freddie Mac. Advocates of reform seek to simplify disclosures of loan fees and closing costs and a new option that would offer borrowers the "bottom line" cost of obtaining a loan. Industry groups criticize these efforts claiming that these "packages" reduce their revenue. According to this article, expect to find news about reform from HUD in early 2005. 11/13/2004

Mortgage Insurance "Bitter Pill" to Take PMI is usually required when the loan amount exceeds 80% of the property's mark

et value. Nearly 5 million people are paying that surcharge, costing them about $100 per month on average. The federal Homeowners Protection Act of 1998 mandaed the cancellation of PMI whenever a homeowner's loan balance is paid down to 78%. To qualify, borrrowers must have on-time payment histories for the year before termination of the coverage and no liens against the property. 11/13/2004

Purchase Plans Vary "Lease Purchase" is a term you may hear now and again in a real estate-related conversation. Jim De Both of interest.com explains what a lease purchase is and how it can be used to live in the house you plan to buy and make payments toward your down payment. 11/13/2004

called a pre-mortgage agreement. 11/6/2004

Purchase Delay May Be Costly The nation's 38 million renters should purchase a home now if they plan to purchase a home at all. Many potential buyers don't realize that buying a home is easier than ever before. 11/6/2004

Hot Markets Show Best Loan Records "American homeowners have become debt junkies..." begins a recent Washington Post article by Kenneth R Harney. Here's why: 10 record mortgage balances 2) credit card bills 3) home equity lines 4) they put down less when they buy and borrow a lot more. Although families are absorbing more and more of their total income toward housing, the number of late and missed payments isn't increasing. Late payments on mortgages were lower in mid-2005 than they were at the same time the year before: 4.3 percent of all homeowners this year versus 6.6 percent last year. The lowest payment rate was in Hawaii, which is one of the most expensive U.S. cities to live in. Second and Third places go to California and Virginia, respectively. Note: the lowest rates of foreclosure in the country include some of the hottest markets. Harney, Kenneth. "Hot Markets Show Best Loan Records" Washington Post

Honest Communication with Lender May Avert foreclosure Lenders work with borrowers who ask for help. Mortgage companies would rather collect their monthly checks than go through the expense and legal hassle of a foreclosure. Calling the mortgage company and telling them about your problems of paying will increase the odds of avoiding foreclosure. 10/9/2004

Equity Loans, Credit Lines not for All There are many home owners who, in need of a loan, went out and applied for a loan when a better choice may be to borrow against the equity in their homes. 9/25/2004

Lenders Look for Job Stability in Applicants How important is job stability when applying for a mortgage? What if I am self-employed or I don't have a 2 year job history? 9/25/2004

Get Preapproved Before Begining Home Search What is the difference between getting pre-qualified and pre-approved for a loan? Should I get pre-qualified for a loan before I begin house hunting?

Bi-Monthly Mortgage Pays Balance Faster Why pay it faster? Paying off your mortgage faster means you're saving more money and it's less time you have to pay on the debt. Since there are 52 weeks in a year, the borrower actually ends up paying 26 half

payments, which translates into 13 full payments.

Legislation Aims to Close Tax Cap Loopholes The Senate Taxation and Assembly Growth and Infrastructure Committee started work on a bill that would impose fines for people who falsely claim their home is their primary residence to take advantage of a tax cap. 5/4/2005

Second Home Mortgage Interest Counts on Taxes If you have a second home that you do not rent to others, the interest on the mortgage for that property is deductible from your income taxes. This applies even if you don't use the home throughout the year. If the sole purpose is to generate rental income and the home is rented on a steady basis, the interest on the

mortgage loan is not tax-deductible. De Both, Jim. "Second-Home Mortgage Interest Counts on Taxes." Las Vegas Review Journal 27 Feb 2005: 17M.

Tax & Estate Law- Legal Q & A Estate planning is very important to the financial success of you and your family. Below, some common questions are covered, such as: What is the benefit of estate planning? Should I be concerned about estate taxes? What can I do to protect my assets? What are some of the issues to be considered in estate planning?

Tax Errors Common Among Novices of Homeownership Good Records, Grasp of Rules May Reduce Mistakes on Return. The following article, which appeared in the Las Vegas Review Journal, explains some of the common tax errors that first time home buyers often make with regard to their real estate. 2/5/2005

Debate Over Property Tax Solutions Angle, R-Reno, narrowly missed the target to put a Proposition 13-style tax measure on Nevada's ballots last year, and she hinted to those gathered Tuesday for a Nevada Policy Research Institute seminar on the issue that she will be back with the proposal again. When the Legislature meets in less than three weeks, it faces the task of finding a property tax solution -- one which is pitting rural counties against booming ones, and taxpayers against local government needs. O'Connell said she does not favor a cap or a freeze because either will cause local governments to raise fees, assessments and other charges "in order to get their pound of flesh."

Seniors Revolt Over Tax Valuations Roberts called for a tax revolt in the January edition of the monthly paper and said the response overwhelmed his staff of four. The bulk of the protest participants are from the four area Sun City communities, which cater to mature adults. Their position was repeated on every form, which detailed name, address, parcel number and property value. Typically, more than 85 percent of appeals are unsuccessful, Schofield said. The assessor's office will now process the complaints, which will eventually lead to a hearing before the Clark County Board of Equalization. 1/19/2005

Property Tax Bills Trigger Concern Some 200 lawmakers, government administrators, union leaders, gaming officials and lobbyists discussed consequences of tax mitigation measures proposed by legislators and used in other states. "We absolutely need to continue studying the changing market and adjust the system so it maintains a certain amount of fairness and equity," Hobbs said. 1/8/2005

Possible Tax Relief for Selected Properties In the debate over how to provide property tax relief from soaring land values, a Southern Nevada lawmaker has devised an idea aimed at benefiting only residents of owner-occupied, single-family homes. The amendment allows property tax reductions for homeowners suffering a "severe economic hardship." The amendment changed the constitutional requirement that all property in Nevada had to be taxed in an equal and uniform way. 1/5/2005

No Personal Income Tax in Las Vegas Helps Lure Businesses A survey of 30 metropolitan areas in the West and central United States ranked Las Vegas as the eighth most inexpensive city for a technical company employing 125 workers and occupying a 35,000-square-foot Class A office space. "Locations like Las Vegas are on the radar screen," Boyd said. "It's not the old days where someone would work for the same company their entire career. No longer do companies say jump and the employees say how high. The human resource departments need to convince people the move is good for them, (and) personal income tax is the number one incentive." 12/9/2004

Property Tax Increases Will Hit Renters Hard Taxes will force me to raise rents by hundreds of dollars. I simply cannot absorb these costs. Surely, other investors are in the same boat. 11/24/2004

New Income Tax Deduction Adds Twists to Returns Taxpayers may have to make decisions without having all the facts. The sales tax measure can be applied to 2004 and 2005 only. Taxpayers have to decide whether it's better to deduct sales taxes or simply to take the standard deduction if it is higher than the total of their itemized deductions. Unless taxpayers have saved every sales tax receipt since Jan 1 or they can't prove how much they have paid. Congress did not enact the law until October. 11/14/2004

Mortgage Insurance Deduction Falls Short the capital gains rules to narrow the loophole that allowed some savvy investors to turn commercial property gains into tax-free home sale gains. 11/6/2004

Estate Planning Q & A Estate planning is very important to the financial success of you and your family. Below, some common questions are covered, such as: What is the benefit of estate planning? Should I be concerned about estate taxes? What can I do to protect my assets? What are some of the issues to be considered in estate planning? In Business Las Vegas 11/5/2004

Living Trust VS Simple Will: Pay a Little Now or a Lot Later Probate can cost heirs time and money. There is a common misconception about the need to have a living trust. Probate costs can range from 4 to 10 percent of the value of the trust. Administration of a trust is usually less expensive than probate. 11/2/2004

State's Taxable Sales Increase in August Taxable sales totaled $3.5 billion in August compared with $3.1 billion in August 2003. Las Vegas Review Journal 10/28/2004

Unemployment Tax Boost Urged- Increase first in four years for fund to reimburse laid-off workers 10/7/2004 Las Vegas Review Journal

Taxable Home Values on Rise Assessor wants 6 percent cap on yearly increase When property tax notices hit valley mailboxes later this month, the average homeowner can expect an 8 percent increase above last year's bill due to rapidly rising home values throughout the county, but the real sticker shock is expected to come over the next two years. Las Vegas Review Journal 7/2/2004 Property Tax Chart

Booker Elementary Last of Five Timeworn Clark County Schools to be Replaced Booker is the last of five timeworn

Clark County schools being rebuilt under legislative mandate. In 2003, Gov. Kenny Guinn signed Assembly Bill 396 authorizing a replacement program that came to include the former Madison Elementary School, rebuilt as Wendell Williams Elementary School; Sunrise Acres Elementary School; Virgin Valley Elementary School; and Rancho High School. Both Rancho and Booker will be completed in 2006. 11/17/2004 Las Vegas Review Journal

Clark County School Board Hears Annual Fiscal Report 11/10/2004 The school board also directed staff to develop a plan for the renovation of the district's central food service facilities and capital needs at the Arville bus yard. The cost of both items is estimated at about $25 million.

Core Builds Second School Based on New Prototype in Northeast Las Vegas Clark County contracted Core Construction to build a new high school at the northwest corner of Dorrell Lane and Goldfield Street in northeast Las Vegas. The project will consist of 350,000 sq ft on a 47-acre parcel of land. The prototype will also be used in the reconstruction of Rancho High School, currently under way byy Martin-Harris Construction. 11/5/2004 In Business Las Vegas.

City Takes Its First Steps in New UNLV Campus Project Steps to transform a barren piece of land off the Las Vegas Beltway into a state-of-the-art, regional campus for the University of Nevada Las Vegas began in earnest this month. 10/29/2004

UNLV Medical School Expands UNLV officials dedicated the school's first regional campus Thursday. The recently opened dental school and biotechnology center on Shadow Lane are part of a statewide debate on where to expand one of the smallest medical schools in the country.

Work Begins on Aliante School A new elementary school is under way in the Aliante master-planned community in North Las Vegas. The new 65,584 sq ft school is scheduled for completion in spring 2005, according to a September 2004 article in the Las Vegas Review Journal.

CCSN Planned for Pahrump Nevada Senators have asked Congress to set aside 280 acres of federal land in Pahrump for a Community College of Southern Nevada (CCSN) campus. 9/28/2004

UNLV School of Dental Medicine Opens a New Facility Near Charleston and Martin Luther King UNLV's 2-year-old dental school, housed temporarily in a couple of different buildings on the school's main campus, including the same building where the maintenance department works, is moving this month to the new Shadow Lane campus near University Medical Center. 5/2/2004

MGM Mirage to Build Metropolis on the Las Vegas Strip MGM Mirage development will bring 12,000 jobs. The project is dramatic in scale and, over time, will be developed into a master-planned urban complex. Construction of the first phase will take about 42 months, with an anticipated opening in 2010. The second phase is expected to entail about 2,500 residential units. "We're very pro-growth. I don't think we fear it. It hasn't been boom and bust, it's been boom and slow down, boom and slow down." 11/10/2004

"Every week there's something new" World Market Center furniture showcase ahead of schedule. Construction of the first phase of the $1 billion furniture showcase near downtown Las Vegas is nearly two months ahead of schedule, and even its co-creator admits he struggles to stay atop a project that's occupied him and business partner Jack Kashani for the better part of five years. 11/19/2004 Las Vegas Review Journal

Moving in On the Furniture Market- Las Vegas Hopes to Become a Big Player in Industry Many expect the World Market Center -- now under construction with 1.3 million square feet in downtown Las Vegas -- to be the beginning of a new industry in the valley and to be the economic kick-start that downtown needs. The first Las Vegas market, scheduled for July 25-29, will include at least 2.3 million square feet of exhibition space at the World Market Center site at Grand Central Parkway and Bonneville Avenue and at the Las Vegas Convention Center. It is expected to draw 40,000 to 60,000 attendees. 11/14/2004

Time shares offer insurance for Lady Luck In a possible sign of pioneering redevelopment efforts to come, the Lady Luck owner has taken the unusual step of converting two floors of one hotel tower into time share units. In Business Las Vegas 7/16/2004

New City Hall Proposed on 61 acres Downtown Along with an academic medical center and a performing arts venue, Mayor Oscar Goodman is floating another design idea for the city's vacant 61 acres: new digs for the city government. A proposal under discussion in private meetings regarding the 61-acre Union Park land west of downtown would call for the construction of a new, larger city hall there, as well as the conversion of the current city hall a few blocks away into condominiums for people such as teachers and nurses. November 2, 2004

North Las Vegas Draws Industrial Interests Another reason is because North Las Vegas has 2.7 million square feet of vacant industrial space (giving tenants and buyers more choice, and in some cases more negotiation power, when looking for a building) and is 40 percent to 50 percent cheaper than southwest Las Vegas, another popular location for industrial properties. 7/23/2004

Potlach Corp- expanding its paper mill, adding 66 jobs. 3/16/04VA Hospital- 5/8/04

Beltway Business Park- 400 acre master planned business park.Lamb Business Center- Located at Lamb and Lone Mountain, this 26-acre project consists of 3 buildings. One of the buildings is for May manufacturing LLC of Victorville, CA, which ma

nufactures and distributes Artesian Spas. The company is expecting to move in January 2005, initially hiring 150 people and eventually moving up to 300 employees. Pabco Gypsum- March 04 $26 million expansion of plant on N Nellis. The company manufactures gypsum wallboard products for construction. Will add 34 workers to its existing 126.Silverado Business Park- Located on the northeast corner of Alexander and Pecos, the 2.72-acre project consists of two buildings and is scheduled for occupancy in January 2005.

Durango Station- Showdown Develops over Plans for Casino After hearing Station Casinos is entitled to build its planned Durango Station as a 217-foot casino with 43,000 more square feet of gaming than the MGM Grand, nearby homeowners are questioning the definition of "neighborhood casino." Homeowners in and around the Rhodes Ranch community aren't waiting for negotiations to begin with Station Casinos. Rather, they're borrowing strategies from Summerlin residents who engaged in an ugly fight with the company over its Red Rock Station casino, which led to its proposed 300-foot hotel-casino towers being reduced to 198 feet. 11/20/2004

Permit issued for a new casino at 4321 W Flamingo Rd. The owner is Fiesta Palms LLC. 10/15/2004 See the Entire List of Permits

Catholic Helathcare West in July 2004 obtained a permit for a new hospital on W Warm Springs in southwest Las Vegas. July 16, 2004 In Business Las Vegas See the list of permits

Blue Diamond Business Center- located on Blue Diamond Rd between Valley View and Arville, this business park will have more than 1.5 million sq ft of industrial, office, and warehouse space. Article

Blue Diamond Crossing- 650,000 sq ft retail facility next to the Blue Diamond Business Center. Anchored by a Target store, construction

is scheduled to start in 2005.

Coast Casinos- South Coast hotel/casino on 60 acres at the southwest corner of Las Vegas and Silverado Ranch Boulevards. The casino will have a 25-story, 660 room hotel tower with a 80,000 sq ft casino.

Decatur Crossing Business Park- located on Decatur just north of the 215 beltway, the project is a collaboration between TWC Construction and LaPour Partners.

Eldorado Business Park- 156,000 sq ft Industrial Park on 11 acres located on the northwest corner of Industrial Rd and El Dorado Way.

Gateway Village- Located at Hualapi and Flamingo. Shops and restaurants. In Business Las Vegas July 2, 2004.Hughes West- 72,350 sq ft 2 story building expected to complete in May 2005.

Purafilter 2000- furnace filter manufacture HQ in a new 44,000 sq ft building near 215 and Rainbow. 75 new employees 3/16/04

Southern Nevada Rehabilitation Hospital- project located on the north side of the Las Vegas Beltway between Sunset and Durango. Scheduled to break ground in the 4th quarter of 2004. In Business Las Vegas on July 2, 2004.

Some Contractors Exempt from Having a License This week, a bill was passed allowing certain developers to be exempt from having a contractor's license. This bill was passed despite objections by the Nevada State Contractors Board 5/19/2005

Las Vegas Condo Conversion Rate Among the Highest in the United States Las Vegas has become one of the major condo conversion markets in the country with an 8 percent share of the $6.5 billion in conversion volume among 10 major metropolitan areas, a report from Marcus & Millichap Research Services shows. 4/28/2005

Las Vegas Home Prices Stabilize in February- according to the Las Vegas Association of Realtors, the median price os a single-family home in February was $286,000. Condos and townhomes showed a 52.5% increase in price from the same month a year ago. The North Las Vegas area north of Cheyenne and east of Decatur showed the highest sales activity and the highest median home price was $442,500 in Henderson souoth of Lake Mead Dr. Smith, Hubble. "Las Vegas Home Prices Stabilize in February" Las Vegas Review Journal 9 March 2005: D1.

Las Vegas Has Another Record Home Sales Year in 2004 Home Builders Research reported a record 29,248 new home sales for Las Vegas in 2004, an increase of 4,018, or 15.9 percent, from the previous year. Even more impressive, he said, was the new home permit total of 32,879, an increase of 7,666, or 30.4 percent. 1/29/2005

Home Builders Laud Guinn Land Plan With land in Las Vegas selling for $600,000 to $800,000 an acre, a representative for developers expects home buyers will welcome an innovative proposal by the governor to cut housing costs. Individuals purchasing the homes would pay only the cost of the housing unit, and not of the land. 1/29/2005

Construction Strong But Affordability at Issue Affordable rental housing will most likely start to become a bigger issue in 2005, with a loss of apartment inventory and an expected rise in rental rates. "I think basically, if you look at the economy of Las Vegas, all of the projections, with the casinos coming on board and the jobs and the unemployment rate, all those economic signs look extremely good," said Pam Banaszak, vice president of sales and marketing for Lennar Corp., a large valley homebuilder. 1/7/2005

Analyst Says Housing Will Stay Hot in 2005 Las Vegas was among the hottest housing markets in the nation last year, and it isn't expected to

cool off much in 2005, a local housing expert said. 99 new homes sold for less than $100,000, down from 216 the previous year. 1/22/2005

Real Estate Industry Enjoys a Boom Year in 2004 Highlights include: Doubled Land Prices, Home Sales Reach Record Highs, William Lyon Builds First Master Planned Community in Pahrump, Focus Property Group Breaks Ground on "Providence" 1/3/2005

Median New Home Prices in Las Vegas Surge Again The median price of a new home in Las Vegas jumped to $284,755 in November, a 36.9 percent increase from the same month a year ago, a local research expert said Friday. Another record was set in the number of building permits pulled. With 1,733 in November, the permit count for the year grew to 30,959, shattering last year's 25,212. 1/8/2005