Real Estate Briefs

Rio Secco Golf Club reopens

After a $2.1 million renovation project led by the original golf course architect Rees Jones, Rio Secco Golf Club, now owned by VICI Properties, reopened for play Oct. 13. Features include new green complexes and bunkers, forward tees, plus an expanded and enhanced practice facility. The improvements are designed to increase playability and sustainability.

“I have really enjoyed working at Rio Secco again,” Jones said. “When I originally saw the site over 20 years ago, I knew it was one of the most unique pieces of land in Las Vegas. It’s more rugged than most in the area. This helped us create the original big, bold layout long considered one of the world’s best. During the renovation, we focused on enhancing and optimizing this ever-changing landscape, including the already notable finish holes – 16, 17, and 18.”

Among other accolades, Jones is known as the U.S. Open Doctor for his renovation work on Bethpage Black, Torrey Pines South and five other U.S. Open courses. Courses he has worked on have hosted a total of 33 U.S. Open, PGA Championship, Ryder Cup, Walker Cup and President Cup events.

“The course has matured substantially in 20 years,” Jones said. “This renovation project gave us the opportunity to reclaim and enhance the features and shot options that made Rio Secco so special in the first place. We expanded the playability of the golf course, while increasing the nuances to challenge the best players in the game. Golfers will find Rio Secco to be an even more memorable experience that presents a different test with every round. It’s a great place to play on a daily basis.”

During the six-month project, Jones made several trips to Las Vegas to oversee the process alongside Rio Secco General Manager Kenneth Wright and world-renowned golf instructor Butch Harmon.

Harmon, who teaches the likes of Dustin Johnson and Rickie Fowler, applauded the changes and said he thinks the industry needs to do more for the casual golfer.

“These courses should be designed for the everyday player, not the tour pros,” Harmon said. “Making it easier and designed so golfers can play more quickly is exactly what golf needs.”

GLVAR members attend Realtors Conference &Expo

Members of the Greater Las Vegas Association of Realtors joined more than 20,000 real estate professionals and fellow industry leaders from around the country at the 2017 Realtors Conference &Expo held in Chicago Nov. 3-6.

This year’s conference theme, “The Sky’s the Limit,” encouraged members of the National Association of Realtors to take advantage of new technology and innovations shaping the industry, educate themselves on the latest market trends and real estate issues and make new contacts with fellow real estate professionals from around the world. GLVAR members also had the opportunity to attend hundreds of information and education sessions featuring more than 300 nationally recognized speakers and industry experts who spoke on a wide range of real estate topics, including affordability from inventory constraints, brokerage management and tax reform’s potential impact on homeowners.

Among the panelists and speakers were Lawrence Yun, NAR chief economist, who shared the latest outlook for residential and commercial real estate markets; William Doerner, Federal Housing Finance Agency senior economist; Steve Schmidt, MSNBC political analyst; Robert Dietz, National Association of Home Builders chief economist; Luke Glass, executive vice president of Industry Platforms, and 23-time Olympic gold medalist Michael Phelps.

“As a trusted source for real estate information, Realtors need to constantly work to educate ourselves about the latest trends and developments affecting our industry,” said GLVAR President David J. Tina, a longtime Las Vegas Realtors. “This conference was an incredible opportunity for me and the dozens of other Nevada Realtors who attended. We were able to reflect on this year’s successes, identify solutions to problems facing the housing market locally and nationally and to discuss ways to keep homeownership and real estate issues near the top of the national agenda.”

For example, Tina said he learned that Southern Nevada isn’t the only housing market where there aren’t enough homes available for sale. “From what I heard in Chicago, most of the major cities in the country are facing an inventory shortage,” he said.

Throughout the week, Realtors attended 100-plus conference forums, workshops and educational sessions on a broad range of real estate issues to help enhance their skills and prepare their businesses for 2018. Attending this conference is one of the countless ways NAR membersgain specialized knowledge, hone their expertise to better serve America’s home buyers, sellers and investors, and improve their professionalism.

During the conference, Elizabeth Mendenhall, a sixth-generation Realtors from Columbia, Missouri, was installed as 2018 NAR president.

“In 2018, Realtors will continue to tackle issues like flood insurance and affordability, but we will also focus on how Realtors can help shape and move the industry forward,” she said. “The business of real estate is always changing, and our industry continues to evolve at breakneck speed. As industry leaders, it is our job to be at the forefront of that innovation.”

Tina said Realtors also had the opportunity to try and learn about the latest products and services for real estate professionals. More than 400 exhibitors showcased their offerings during the trade expo, the largest in the real estate industry, exposing them to fresh ideas and ways to better serve clients.

Senior apartment community to be relocated

The 42-year-old Rose Gardens Senior Apartments and its 120 units will be relocated to a new affordable apartment community across the street from its current North Las Vegas location. There is no cost to residents for the move, and rents are not expected to increase from the 30 percent of adjusted household income which they pay. Construction at 1632 Yale St. is estimated to take about a year with residents moving into their new apartment homes in December 2018.

Rose Gardens is a senior public housing development of the Southern Nevada Regional Housing Authority; and will be the first new construction project of its kind in Clark County with resident relocation (entire community moving to new place vs. temporary relocation). The estimated $21 million cost to develop the new Rose Gardens is through the federal government’s Rental Assistance Demonstration public-private partnership program.

SNRHA has chosen to partner with the nonprofit Nevada HAND to build and manage the new Rose Gardens Senior Apartments. Residents will also get more amenities and access to services that are standard at Nevada HAND’s 31 other local affordable family, senior and assisted living communities. These include a computer lab with free high-speed internet, fitness center, theater room, music room, dog run, community gardens, barbecue and picnic facilities, gated parking, more secure building access, full-time property manager and on-site resident services with access to financial, supplemental nutrition and public resources: volunteer and education opportunities and social programs.

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