The Las Vegas housing market looks dramatically different than it did just several months ago.
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Southern California real estate firms Lyon Living and LandSpire Group recently started construction on a 294-unit rental complex at The Gramercy in the southwest valley.
Blackstone Group, a large firm with heavy investments on Las Vegas Boulevard, is looking to snap up the Australian casino operator Crown Resorts.
Overall, the valley’s single-family rental market has “held up rather well” during the pandemic, said Tom Blanchard, last year’s president of trade association Las Vegas Realtors.
Like practically everywhere else in the Las Vegas Valley, the south Strip has a long track record of developers pitching massive projects and never following through.
Construction has been picking up all over Las Vegas, with investors building subdivisions, retail centers, warehouses, apartment complexes and more.