Southern Nevada logged the most resales on record in 2021, prices have been hitting new all-time highs practically every month, and houses have been trading rapidly.
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Executives said on a conference call with analysts that Station plans to develop a casino on its 71-acre parcel near Ikea.
Plans call for 1,343 residential units, around 240,000 square feet of commercial space, and underground parking.
Investor Wayne Perry is taking ownership of the site of SkyVue, an unfinished eyesore across from Mandalay Bay. No word yet from the Seattle-area businessman on what plans may hold for the Las Vegas Strip land.
Station owns around 380 acres in the valley outside its resorts. The locals-focused casino operator didn’t say which plots would get listed.
Compared to other sections of the valley, the east side is older and largely overlooked by developers. But its home prices are lower and, amid affordability concerns in the valley, buyers are showing up.
Las Vegas is one of the most popular places in America to flip houses, even though investors can earn a lot more money elsewhere. And slowly, it seems, they’re catching on to that.