condominium: CityCenter development has a new partner - 08/24/07 06:08 AM
 
The mixed-use project right on the Strip is coming steadily off the ground as we speak. The construction site is full of activity and some of the buildings have already reached up to about 15 stories. It will include several hotels, 2,650 high-rise condominiums, a casino and a huge retail, dining and entertainment venue. The cost of this massive development is pegged at $7.9 billion and it's expected to open late in 2009.
MGM Mirage, the owner of the development, has decided at this stage to sell half of the project to Dubai World, a holding company for the state of Dubai. … (0 comments)

condominium: Union Park, Las Vegas, will go green - 08/10/07 04:04 PM
The City of Las Vegas owns a 61-acre parcel of land just west of downtown that was a former rail yard. It's aptly called Union Park. It has been vacant for years while the city has tried to attract developers to put something useful there. Plenty of ideas have been tossed around, but with little traction and it still is vacant. But now things are stirring up over there. Now they are talking about something that might hold water.
The major news is that the site has been approved to be a participant in the U.S. Green Building Council's LEED for Neighborhood … (8 comments)

condominium: Vegas downtown on the go - 08/07/07 10:52 AM
It appears that Las Vegas downtown hasn't received this much attention since they filmed segments of a James Bond movie over there 30 some years ago. The current buzz is not about any film, or high-stakes gaming, though. It's about residential real estate projects. More specifically mid- and high-rise condominium projects. And how they are going to attract more residents there and with them come more services and things for people to do. Pump fresh energy into the community.
Soho Lofts opened its doors last year and claimed the title of being the first high-rise there, a 17-story tower with 120 luxury units. … (0 comments)

condominium: Elvis returns to Vegas? - 07/31/07 08:44 AM
He just might do that. Unfortunately for the fans of the great entertainer it's only his name that is thinking about a comeback. Nothing else. Elvis won't be in the building.
A real estate firm out of New York a short time ago acquired total control of 18 acres of land between MGM Grand and Planet Hollywood. It can be said that this is prime territory right on the Strip. The company has aims to develop a mixed-use project on the site that would include residential, in short condominiums, hotel, retail and casino components.
How Elvis fits in the picture is that the firm owns … (2 comments)

condominium: Condominiums going green - 07/30/07 11:41 AM
 
Condo developers are gradually putting their arms around the green building concept and doing so in innovative ways. They know the residential real estate market for the eco product is still in its infancy, evolving, yet there are encouraging signs that it's gaining traction. More of it every passing day. Let's look at some recent environmentally-friendly projects across the country and what they've done.
A loft development in Massachusetts gets heating and cooling from underground geothermal plants. In essence they've drilled twenty wells deep into the earth and filled them with water that maintains 50 to 55 degrees throughout the year. Then heat … (3 comments)

condominium: New Las Vegas house sale record set - 07/28/07 09:58 AM
 
Let's qualify that statement a little bit. A luxury single-family home recently sold for almost $7.9 million which translates into over $1,000 per square foot, as the property measures 7,519 of those. That $1,000 a foot is supposedly the new high for the valley. In terms of price alone, plenty of homes have changed hands for more money than that, but then they've been much larger. Some luxury high-rise condominiums have also done better than that, like units in Trump Towers and Park Towers, but this is the first in the single-family category.
So, what happened to the soft real estate market … (2 comments)

condominium: Henderson Nevada leads $1 million club - 07/16/07 06:05 AM
 
Henderson is quietly living and thriving in the shadow of its much more famous neighbor, the entertainment capital of the world, Las Vegas. Sometimes it's easier on you when you can go about your business just off the spotlight. Everything you do is not being scrutinized by somebody.
Henderson has been for years one of the fastest growing cities in the country. That's one feather on its cap. Now it can slip another one on it. It can claim the title for having the most over $1 million homes in Southern Nevada with a total of 1,888, based on the appraisals by … (0 comments)

condominium: Condominiums change Las Vegas downtown - 06/18/07 09:40 AM
 
It's a well-known fact that the high-rise, luxury condos on or near the Strip get most of the attention in the valley. They are typically developed by marquee names that by themselves garner media coverage even if they don't really try. Turnberry Place, Trump International Hotel and Tower, MGM Mirage's CityCenter, these are some of the names many of us are familiar with.
Las Vegas downtown is still suffering from a less than glowing reputation. But that is about to change. The city is working rather hard through many types of incentives to bring in fresh blood. One segment it has targeted … (4 comments)

condominium: Green building product awards - 06/11/07 03:53 PM
 
Some of the products that were recognized by BuildingGreen, Inc. a few months ago at the U.S. Green Building Council's conference are amazing. I'm just thinking how much time was spent first in discussions alone whether a concept is worth exploring in a serious way. After that dialogue these scientists and engineers and others probably had to draft the idea on paper, then get it approved by the corner office and finally put it physically together. At least its prototype. And then comes the really hard part. Make it work, make it viable. Test it and tweak it and test it some more.
Let's see which products have passed … (2 comments)

condominium: More high-rise condos for the Strip? - 05/16/07 04:14 AM
That's a distinct possibility. The location would be the New Frontier that was just sold for a whopping $33 million per acre. The new owner, El Ad Properties, owns multiple New York City buildings and has announced plans to raze the existing hotel and casino and build a copy of the Plaza Hotel in New York on the site. That is their strategy right now.
But take note that the purchase includes 36 acres of land on the Strip. Yes, prime location. And a lot of dirt to play with. El Ad has experience in high-rise condominiums and I'm placing a moderate bet on them … (0 comments)

condominium: Carbon neutral buildings on the way - 05/14/07 06:28 AM
Another impressive step has been taken here in U.S. to curb global warming. A group of building design organizations sat down recently to sign a document outlining an ambitious program that leads to the future construction of structures that use considerably less energy, decrease greenhouse gas emissions and contain  living and work space that is healthy and comfortable.
The organizations involved in this great effort are the American Institute of Architects, the American Society of Heating, Refrigeration and Air-Conditioning Engineers, Architecture 2030, the Illuminating Engineering Society of North America, the U.S. Green Building Council and the U.S. Department of Energy. All key players in the … (6 comments)

condominium: Housing sector key in energy conservation. - 04/25/07 09:46 AM
UNEP, United Nations Environment Program, sponsors the Sustainable Building and Construction Initiative, or SBCI, that recently issued an eye-opening report about global warming and what role the building industry plays in it. The sector alone accounts for 30-40% of global energy use, a significant amount. It should also be mentioned that the U.S. Green Building Council is a strong supporter of SBCI, so we're closely working with the international community to address the deteriorating situation.
Most energy is consumed during the use of the structures, that is houses, condominium towers, townhouses, office buildings, plants, for cooling, heating, ventilation, lighting and some other applications, and not during … (8 comments)

condominium: American Real Estate Partners sell Stratosphere. - 04/23/07 09:47 AM
AREP, controlled by Carl Icahn, agrees to sell their gaming operations in Nevada, most of which are in the Las Vegas valley. These are casinos it owned here, so that in itself is normal. The action in that arena is steady. Companies are being bought out all the time, Harrahs - Caesars, other properties get purchased, Aladdin -Planet Hollywood, others get imploded to make room for something new and possibly larger than anything previously built. Another transaction among the many is just the flavor of the day.
What caught my eye on this deal was the Stratosphere property and where it's located. Besides the casino itself, the … (2 comments)