Workers in their Element as construction starts for hotel

Starwood Hotels and Resorts and Las Vegas-based LaPour Partners have started construction of the 123-room Element Las Vegas hotel near the Las Vegas Beltway and Town Center Drive in the master-planned Summerlin community.

The project value is estimated at $25 million, or about $203,000 a unit, which makes it one of the more upscale extended-stay hotels in Las Vegas, developer Jeff LaPour said during a groundbreaking event. The hotel, next to Nevada Cancer Institute, is scheduled to open in October 2008.

"It's every bit as nice as any full-service hotel," LaPour said. "It's the first and only nongaming hotel in Summerlin."

The design of Element Las Vegas is inspired by Westin Hotels, an internationally recognized brand of Starwood.

Guests will be able to experience a "new mode" of extended-stay travel in Las Vegas, Element Hotels director Nicholas Lakas said. They can customize their rooms with modular furniture, swiveling flat-screen televisions, large desks with open shelving and custom-designed closets. Each room has a complete kitchen with modern appliances and all the cooking utensils needed to prepare a gourmet meal.

The hotel will also have 1,800 square feet of meeting space, an integrated technology center and library, cafe and flexible lobby lounge space.

JOINT VENTURE: Dick Pacific Construction, a subsidiary of Pittsburgh, Pa.-based Dick Corp., has entered into a joint venture with Pinnacle Las Vegas to develop the $740 million Pinnacle high-rise condo planned at Tropicana Avenue and Valley View Boulevard. Pinnacle will offer 1,100 luxury condo units in two 36-story towers connected by a unique "sky bridge."

MARKET CONFIDENCE: Dave Davies, principal of Seal Beach, Calif.-based Silver Oaks Investments, has barely pulled building permits for CL3 Lofts in North Las Vegas and he's already looking around the valley for more sites to do the same project.

The 44-unit CL3 Lofts is a combination of office, warehouse and residences under construction near Cheyenne and Clayton avenues. After presenting his project to the North Las Vegas Planning Commission, Davies said one of the commissioners asked about purchasing a unit at CL3.

SMOOTHIE MANIA: Seattle-based Emerald City Smoothie, capitalizing on the rapidly growing $2 billion smoothie industry, plans to bring 10 franchise locations to Las Vegas in the next three years.

With a franchise fee of $30,000, the initial investment to own and operate an Emerald City Smoothie franchise averages under $200,000 for a 1,000- to 1,500-square-foot store with working capital, said Jim Baskett, the company's vice president of business development.

The expansion into Las Vegas is part of a nationwide growth plan for more than 300 stores by the end of 2010. Emerald City Smoothie has 47 locations operating in the United States and is targeting Arizona, Florida, New York and Texas for expansion.

CONDO FINISHED: Martin-Harris Construction has finished the 378-unit first phase of Boca Raton midrise luxury condominiums near Las Vegas Boulevard and Serene Avenue.

The $400 million project has received its certificate of occupancy for the first two seven-story buildings, allowing for residents to begin moving in. Upon completion, Boca Raton will consist of four midrise towers with 756 homes and 1,300 underground parking spaces.

COMMUNITY CENTER: Core Construction completed the $40 million Centennial Hills Community Center near U.S. Highway 95 and Buffalo Drive. The project on 20 acres includes a 98,000-square-foot municipal building, indoor and outdoor swimming pools, outdoor amenities, site work and off-site work.