Work on Streamline Tower Condominium Starting Soon

Las Vegas High Rises

 

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.

"We sit in the entertainment district of the redevelopment plan," said Dusty Allen, project manager and partner on Streamline Tower. "So we'll have some form of entertainment, a jazz club or something."

The developer of record is Patrick McCourt, chief executive officer of Barclays North in Everett, Wash.

Martin-Harris President and Chief Executive Officer Frank Martin said he's ready for the challenges of building a high rise on such a tight site.

 

"It always presents problems when you get into a site like that," he said. "It hits you hardest in scheduling for crane time. You don't have any space to stockpile materials. Things have to arrive on time."

The flurry of high-rise activity has created more work for builders such as Martin-Harris, Penta Building Group, McCarthy Building Cos. and Perini Building Co.

Among the projects going up are Metropolis by McCarthy, Panorama by Perini and Grandview time share by Penta. Martin-Harris is also doing the midrise Manhattan condos.

"Am I apprehensive?" Martin said. "Yes. This a brand-new product. But there are a lot of companies doing it. Outside of the Soffers (Turnberry Place), they've got the only true high-rise experience."

Kevin Kelly of Vegas Valley Properties, another partner in the Streamline project, said land values have doubled in downtown Las Vegas over the past year, going from $100 a square foot to $200 a foot.

"When we locked up the property, we knew this was in a great location, the entertainment district. There's huge plans to redevelop the whole area," Kelly said.

"One of the things that will help is we already knew what we wanted to put down there, but instead, we went to the city and asked, `How would you like it to be done?' Doug Lein (former economic development manager for Las Vegas) painted the vision and it was exactly what we had in mind. Our goal is to bring more youth down there."

 

This article appeared in the Las Vegas Review Journal on 1/3/2005 and was written by Hubble Smith