Longtime developer Larry Canarelli and investment banker Viney Singal on Wednesday unveiled their new venture together, Capro Capital.
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The operator of a hotel-casino under construction at the south edge of the Strip is being bought by an industry giant.
Locally and nationally, homebuyers have been largely pumping the brakes for months, following last year’s cheap-money-fueled buying binge.
Many people can’t qualify for a mortgage, as they can’t afford the higher payments brought on by rising interest rates.
Southern Nevada is far from alone in seeing buyers pull back amid a sharp jump in mortgage rates.
Las Vegas has a long history of blowing up buildings to clear space for new ones. And now, a pipeline of big demolitions is set to remake parts of the Strip and other pockets of Southern Nevada.
Z Life Co., which built The English Hotel, filed plans for a six-story building with 108 multifamily residential units and 72 “residence hotel” units.
The rental complex boasts secure lockers for package deliveries, floor-to-ceiling windows, high-end finishes and, rare for Southern Nevada, underground parking.
Construction is underway for an In-N-Out Burger across from Allegiant Stadium, and it’s on land that rose quickly in value.
NorthPoint Development broke ground last week on an industrial complex that is expected to span more than 2 million square feet.