According to Las Vegas city records last year, the one-story project will span more than 21,000 square feet and sit on a 5-acre plot of land.
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Major projects do get built in America’s gambling capital, and there are always people willing to spend time and money outside the casino floors.
The casino chain has reached deals since 2019 to lease Bellagio, MGM Grand, Mandalay Bay, Aria, Vdara, and, as announced this week, The Cosmopolitan of Las Vegas.
Nearly 87 percent of previously owned single-family homes that sold in May had been on the market for 30 days or less, up from about 64 percent of the house sales in January.
A bankruptcy court auction is scheduled to be held May 19 for a 38.5-acre spread along Las Vegas Boulevard across from Mandalay Bay. Bids were due Thursday.
The market has slowed considerably this year, after a heated run in 2018 sparked affordability concerns. The cooling, at least in theory, could help jumpstart home sales.
The Blackstone Group, a global investment giant, has gone from buying the recession’s discarded leftovers to snapping up hot property in Las Vegas.
Las Vegas’ housing market is a far cry from the boom days of a decade ago, but at least one thing is approaching those levels again: new-home prices.