Green Valley Lofts, a five-story, 41-unit project planned at 2905 N. Green Valley Parkway, would be the first mixed-use residential development in Las Vegas to use "green building" construction, developer Oleg Vydra said.
Vydra is developing the $25 million project in partnership with Euro American Glazing, a European company that specializes in building glass and steel façades. Vydra is operations director for the North American division of EAG.
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Entitlements and zone changes for the project have been approved by Clark County Commission. Construction is scheduled to start in April. Tradewinds Construction is the general contractor.
Green Valley Lofts will offer one of the most energy-efficient projects in Las Vegas, integrating sustainable design principles and advanced building technologies, Vydra said.
It's designed to meet criteria established by the U.S. Green Building Council for LEED (Leadership in Energy and Environmental Design) certification and Energy-Star Rating by the Environmental Protection Agency.
"We've done it by the books," Vydra said. "We've registered the project with the USGBC and our architect, engineer and general contractor are all LEED certified."
The developer's goal is to drastically reduce utility costs for residents, while minimizing the effect of the building's construction on the environment.
Using European glazing techniques for the façade, energy requirements of the building will be significantly reduced compared with conventional structures, he said.
Energy-efficient heating, ventilation and air conditioning systems, lighting fixtures and appliances will reduce power bills. A 30-kilowatt rooftop solar photovoltaic system will generate sufficient power to satisfy most of the building's remaining energy needs.
Homeowners' association fees, which normally run from 40 cents to 50 cents a square foot, will be cut in half because of the energy savings to operate common amenities such as the workout center, spa and pool, Vydra said.
RETAIL CENTER: Nigro Construction started work on Westgate Retail Center at Warm Springs Road and Gillespie Street. Westgate Resorts is the developer, with Nigro serving as the design-build contractor for the $5.4 million project. Completion is scheduled for February.
Westgate Market, a 3,837-square-foot convenience store and gasoline station owned by Westgate and operated by Ross Management, will occupy part of the 2.25-acre site.
TENANT LEASES: Commercial real estate developer Plise Cos. signed 60-month lease agreements with Painted Hair Salon and dentist Michael Webberson at Centennial Corporate Center near Ann Road and U.S. Highway 95. The leases are valued at more than $2 million for a combined 4,677 square feet.
BUILDING SOLD: Irvine, Calif.-based Faris Lee Investments brokered the $5.2 million sale of a new 7,683-square-foot retail building in Silverado Ranch Shopping Center, a new Wal-Mart grocery-anchored center at 440 E. Silverado Ranch Blvd.
ACQUISITION: Kimco Realty Corp. and Prudential Real Estate Investors acquired Pan Pacific Retail Properties, owner of several shopping centers in Las Vegas, for $4.1 billion. Prudential will contribute $1.1 billion in equity on behalf of institutional investors in three of its portfolios. Kimco invested more than $1 billion to acquire new properties for its core portfolio during the past year. The company has interests in 1,326 properties with more than 175 million square feet of leasable space in the United States, Canada, Mexico and Puerto Rico.
INDUSTRIAL SPACE: Las Vegas-based Juliet Cos. has finished the 350,000-square-foot second phase of Blue Diamond Business Center, a 110-acre light industrial park at Windmill Lane and Valley View Boulevard in the southwest valley. Tenants include Sara Lee Bakery, Outdoor Kitchen Concepts, Hardwood Specialty, American Shredding and the Las Vegas Review-Journal.
MILLION-DOLLAR HOME SALES
Luxury homes of Las Vegas reported the following million-dollar home sales last week:
$1.14 million, 4,617 square feet, 4 bedroom, 5.5 bath, near park with city view, downstairs game room opens to covered patio, large yard with pool and spa, cul-de-sac, summerlin.
$1.2 million, 3,112 square feet, 5 bedroom, 4 bath, two acres, guest house, hardwood floors, bonus room for entertaining, zoned for horses, full-length covered patio in backyard, southern highlands.
$1.25 million, 3,062 square feet, 3 bedroom, 3.5 bath, strip, city and golf views from third hole, casita, raised sun deck and fire pit, pool, spa, courtyard, fountain, Anthem Country Club.
$1.48 million, 5,741 square feet, 4 bedroom, 4.5 bath, magnificent double-size waterfront lot, 22-foot ceiling, private boat dock, 25-foot-by-25-foot family room with wet bar, pool, spa, desert shores.
$1.5 million, 4,516 square feet, 4 bedroom, 4.5 bath, over half-acre on cul-de-sac, nine-car garage, recreational vehicle garage, $150,000 in upgrades, his-and-hers offices, wraparound patio, seven hills.
$3.13 million, 6,937 square feet, 6 bedroom, 5.5 bath, golf, mountain and Strip views, limestone and wood flooring, four-car garage, wine cellar, elevator, office, infinity-edge pool, spa, summerlin.
$5.5 million, 7,186 square feet, 5 bedroom, 5.5 bath, authentic Italian villa with views of lake, mountains and golf, slate granite, marble and wood flooring, antiques and imports, Lake Las Vegas.
