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.
Real Estate Insider
Eli Segall’s Real Estate Insider column appears Saturdays in the Business section.
esegall@reviewjournal.com … @eli_segall on Twitter. 702-383-0342
Visitor volume remains below pre-pandemic levels, but investors are betting big that Las Vegas is back on track.
Florida developer Jeffrey Soffer aims to open the towering resort in 2023, after initially breaking ground in 2007.
The company owns six undeveloped sites and likes the idea of “essentially doubling the size of our current operating platform here in Las Vegas.”
Southern Nevada prices have been on a stomach-churning ride the past two decades: The market floors it, hits the brakes, and repeats.
The company announced that due to a “backlog in renovations and operational capacity constraints,” it will not sign any new contracts to buy homes “through the end of the year.”
Locals have long predicted better days ahead for the north edge of the Strip, but a burst of news shows the area is still in flux.
Real estate pros have long figured the Durango site would be the first among Station’s desert parcels to get developed.
The casino chain has reached deals since 2019 to lease Bellagio, MGM Grand, Mandalay Bay, Aria, Vdara, and, as announced this week, The Cosmopolitan of Las Vegas.
Christopher Homes announced plans this month for SkyVu, a 102-lot housing tract in MacDonald Highlands.
Ovation Development filed plans for a 55-and-older apartment project behind the Henderson casino.
Over the past several months, some signs that Southern Nevada’s market was tapping the brakes have come and gone.
Some 15 years ago, a builder’s plan to construct high-rises in southwest Las Vegas failed, leaving a giant hole. Now another developer is moving forward with a plan for a big apartment complex there.
Housing markets are always prone to ups and downs, especially in Las Vegas, and no boom lasts forever.
Life Time spokeswoman Natalie Bushaw said its roughly 15-acre plot “is still a planned Life Time athletic resort destination.”
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