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Las Vegas has a long history of developers pitching massive projects and never building them. Ideas that have come and gone include megaresorts, stadiums and condo towers. Current stalled ideas include a 27-acre arena and hotel project on the Strip and a 130-acre extreme sports park near Town Square. More than $3.5 billion worth of relatively new projects in Las Vegas are stuck on the drawing board or showing little progress.

Las Vegas apartment rents are climbing at one of the fastest rates in the country. The average asking rent is $1,055, up 25 percent since early 2013, according to Reis Inc. Apartment complexes are also selling fast, and at rising prices. Buyers often plan to renovate the property and boost the rents.