When a Buddhist group recently bought property near the Strip and unveiled plans to build a temple, more than a few people likely did a double-take.
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.
As house hunters and real estate agents know, the inventory of homes for sale has dropped fast in Las Vegas.
When you’re as big as The Blackstone Group, shelling out hundreds of millions of dollars can be pretty normal stuff.
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.
Seven or eight years ago, Las Vegas’ housing market was all but dead. Today it’s reached the most heated levels in years.
Las Vegas, as we know, was the foreclosure capital of America during the recession. Job losses soared as borrowers throughout the valley fell behind on their mortgage and lost their home to lenders.
Construction has been picking up all over Las Vegas, with investors building subdivisions, retail centers, warehouses, apartment complexes and more.
Today, the property on Durango Drive at Hacienda Avenue is spruced up and on the market, ready to close the chapter on its blighted, beat-up past.