.comment-link {margin-left:.6em;}

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.

Friday, April 07, 2006

Another high rise bites the dust

There is good news for some high rise developers in Las Vegas, The Curve project has been suspended. No reason was given on their website, but the most likely culprit is rising construction costs. There are over 30 construction cranes in the strip area alone right now, so its a safe bet that construction materials have risen in cost over the last 18 months.

It seems 2006 is going to be the year of high rise cancellations. The suspension of the Curve project comes on the heels of the cancellation of Icon, Ivana and Liberty Tower earlier this year. Despite this recent suspension, the amount of projects going forward is still far more than the majority of the "experts" had predicted.

Currently its a buyer's market in Las Vegas, for high rise condos and homes alike. So the suspension of the Curve project will be a welcome relief to the current projects, lowering the existing inventory and widening the buyer's pool. All but a handful of high rise projects for sale are now under construction. Roughly a dozen or so will be nearing completion at the end of this year or early 2007. A few more are scheduled to break ground this year.

Labels: , ,

Sunday, April 02, 2006

Las Vegas Condo Conversions

Despite a proposed ban on condo conversions several months ago (that didn't pass anyway), condominium conversions in Las Vegas are still going strong. Some of the older projects, like Bella Vita are selling off their last units. Several new projects have sprung up in some of the more popular communities, like Avalon in Seven Hills, Montana in Silverado Ranch and Sedona on Las Vegas Blvd. Part of the popularity on these projects is the price. Most of these condos start in the mid 100,000's, making them an affordable first home. I also put information on Marquesa and Manzanita condos. Marquesa is located right next to Summerlin and Manzanita is just a few minutes from Nellis airforce base. There are several more condo conversion projects in the works.

Probably one of the best buys in Las Vegas is going to be Traverse Point. Traverse Point is located right behind 17th and Vine, just off of Stephanie. Right down the street, Centra and KB Home are planning to build a huge master planned community called Stone Lake. The park and lake area alone are going to cost 12 million. There will also be a big sports complex built along with a new elementary school. Which means price wise Traverse Point will be very, very attractive.

Labels: ,

Listed on BlogShares
Web Directory
Add blog to our directory.