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Las Vegas Real Estate Blog

Your Las Vegas real estate information source. The latest news, new construction, scandals, additions to the strip and other Las Vegas and related information.

Thursday, March 16, 2006

Las Vegas Scandals

The political scandals keep coming here in Las Vegas. Another case of possible corruption of a government official. County recorder Frances Deane is under investigation by the Las Vegas Metropolitan police department. Metro is alleging that Deane sold private documents related to her job to a local company, owned by Monty Miller. The alleged documents were related to bank foreclosures in the valley that allegedly gave his company a chance to buy the property before the bank foreclosed, thus giving him the chance to acquire the property at a significant savings. Ms. Deane denies any wrong doing. When asked about her relationship with Mr. Miller by local news, she responded in part by saying he was a "high ranking republican." It seemed the interview was edited for time, so in fairness I think she meant that he was a highly respected member of the business community and active in the republican party. Metro has seized thousands of documents as well as confiscated her work computer. Ms. Deane is still at work, doing everything by hand. Metro did not give a time frame on when its investigation would be complete. This is not the first time Ms. Deane has been in the news. The review journal did a story on her about some of her personal beliefs.

Another corruption case went to trial today. Operation G sting, the federal investigation of alleged corruption by several city council members completed jury selection and should have had opening arguements today. Erin Kenny, accused in the case has plead guilty and taken a deal in exchange for testimony against Mary Kincaid-Chauncy, Lance Malone and Dario Herrera. I'm sure as news leaks of the trial will be broadcast nationally. The trail came about by use of the patriot act by FBI.


Monday, March 13, 2006

Future uncertain for Las Vegas strip property

One of the few remaining historic casinos in Las Vegas has been sold. The Tropicana resort, which has been in the same location since 1957, was sold to Pinnacle Entertainment. The property had been slated for a rennovation later this year, but since the buyout the new owners says it will be at least two years before it comes up with a design plan for the property. The intersection of Tropicana Avenue and the strip is one of the busiest in Las Vegas. The last rennovation to the property was in the mid eighties when a tower was added.

Jury selection for the Beazer homes lawsuit started today. Beazer homes is being sued by some 100 residents of Vista del Oro in Summerlin. The suit alleges construction defects, such as paper installed around bathroom windows led to mold growth. Judge Michael Cherry is presiding over the trial.


Thursday, March 02, 2006

Hard Rock Condos postponed

Owner Peter Morton of the Hard Rock Casino, announced that he is postponing plans to expand the Hard Rock with residential condos. The postponement comes on the heels of the cancellation of Icon, another Las Vegas high rise project. Morton was quoted as stating "You can't hold someone's money while the decision is in the process of being formulated as to the future of the Hard Rock. So we sent out letters and gave people the option. If they want to stay in the project, that's cool. If they want their money back plus interest, that's cool, too."

Those people who have requested a refund of their 10% deposit will also be paid interest on the money. Morton has also received offers to buy the Hard Rock as well, including the land for the condo project.

Meanwhile, Las Ramblas, Vegas 888 and W Las Vegas are going forward with their high rise towers. Another loft project, Luxe Lofts just started accepting deposits today. In what may be the new trend in Las Vegas, Luxe lofts will only have 83 units available. The project will be located on W Flamingo, just east of the 215. Another new project, Echelon will be located in the Northwest off of N Durango and Deer Springs in Centennial Hills. Echelon will be a mid rise project.

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