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News Archives: 2005
High-rise demise is no surprise to experts
Tony Illia / Las
Vegas Business Press
Dec. 27, 2005 - TFinancing, developer equity, and hard
contracts have resulted in some recent high-rise cancellations.
Banks, as a result, will likely scrutinize future projects
more closely before providing a construction loan.
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New southwest valley office-retail complex
opens its doors
Tony Illia / Las
Vegas Business Press
Dec. 27, 2005 - The Plise Companies' new Rainbow Sunset
Pavilion recently opened in the southwest valley. The
first phase consists of a 111,000-square-foot Class
"A" office building and 96,500 square feet
of retail. The 481,500-square-foot mixed-use project
is located at the northwest corner of Rainbow Boulevard
and Sunset Road, adjacent to the I-215 Beltway.
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Las Vegas boom deals some a losing hand
Brian MacQuarrie
/ The Boston Globe
Dec. 12, 2005 - Céline Dion is waxing romantic
at Caesars Palace. Wayne Newton is warbling at the Flamingo.
George Carlin is cracking jokes at the Stardust.
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Boca Raton takes shape on the South Strip
Tony Illia / Las
Vegas Business Press
Nov. 14, 2005 - The $400 million, 756-unit Boca Raton
condominium complex on the South Strip is rapidly taking
shape. Developed by Palm Beach Resort Condominiums LLC,
the 15-acre project is located at the southwest corner
of Las Vegas Boulevard South and Serene Avenue, just
north of the new South Coast Casino.
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Business is booming in NLV: City has taken
great strides to catch up to Henderson
Kevin Rademacher
/ Las Vegas Sun
Nov. 13, 2005 - In the 1980s James York saw builders
set their sights on both North Las Vegas and Henderson,
two cities with strong industrial roots.
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Reaching for new heights
Tony Illia / Las
Vegas Business Press
Oct. 2005 - Rising land values, increased construction
costs and a population boom have pushed median Las Vegas
Valley home prices past $314,000, resulting in a flood
of newly proposed condominium projects. Developers are
offering a variety of super-luxury high-rise residences
ranging anywhere from 700 square feet to 5,000 square
feet in size, with prices from $350,000 up to $4.5 million
and more.
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Why you can't buy a house in Vegas
Jennifer Shubinski
/ Las Vegas Sun
Oct. 28, 2005 - The story of Las Vegas Valley real estate
has turned from the amazing boom that made headlines
across the nation to one of compromises and missed opportunities
for many residents.
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Developer, builder team up on project
Hubble Smith /
Las Vegas Review-Journal
Oct. 22, 2005 - A prominent commercial developer and
the top home builder in the Las Vegas Valley have formed
a business partnership to develop two mixed-use urban
villages along the Las Vegas Beltway, executives said
Friday.
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LV real estate index declines
Hubble Smith /
Las Vegas Review-Journal
Oct. 12, 2005 - An index measuring Southern Nevada's
commercial real estate activity shows a slight dip in
the third quarter and remains below the 100 baseline
established five years ago in all market segments.
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Retail renaissance: New shopping centers offer
more mixed-use options
Tony Illia / Las
Vegas Business Press
Sept. 1, 2005 - The face and feel of the modern shopping
mall has changed. As valley land costs soar, retail
developers must be more creative in order to survive.
Today's mall is likely to have more mixed-use components
such as movie theaters and office space and residential
units.
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Rising Stars on the Strip
Jerry Hirsch /
Los Angeles Times
Aug. 22, 2005 - The boom in high-rise condo projects
in this city's canyon of casinos known as the Strip
has spawned its own new status symbol — the celebrity
resident.
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Rising Stars on the Strip
Jerry Hirsch /
Los Angeles Times
Aug. 22, 2005 - The boom in high-rise condo projects
in this city's canyon of casinos known as the Strip
has spawned its own new status symbol — the celebrity
resident.
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Centra plans new 65-acre mixed-use urban village
Tony Illia / Las Vegas
Business Press
Aug. 22, 2005 - Centra Properties is planning a new
65-acre, mixed-use urban village at the northeast corner
of I-215 and Sunset Road. The local developer recently
spent $60 million acquiring the property, which is situated
within Clark County's new mixed-use overlay district,
permitting 50-unit-an-acre densities.
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Regional mall developers plan NLV projects
Brian Wargo / Las Vegas
Sun
Aug. 4, 2005 - North Las Vegas, a city without a regional
mall despite a population of nearly 180,000 people, has two
developers proposing malls within 3.5 miles of one another.
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Nevada's Industrial Market
Nevada Business Journal
August 2005 - Nevada’s explosive population growth,
robust economy and attractive business climate, which includes
no franchise, corporate income or capital gains taxes, continue
to attract industrial users to the state. Unemployment decreased
to 4 percent in the first quarter as industrial-related jobs
grew by 12.6 percent, adding 19,200 new positions.
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Development costs fuel creativity
Brian Wargo / Las Vegas
Sun
July 27, 2005 - A bill that would transfer more than 500 acres
of federal land to Henderson for a business center in the
far western edge of the city is expected to make it through
Congress by the end of the year.
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LAS VEGAS REAL ESTATE: Markets 'super strong'
Hubble Smith /
Las Vegas Review-Journal
July 19, 2005 - Like anyone with a stake in Las Vegas
real estate, Ed Borst wonders about the "bubble."
He was transferred here from Portland, Ore., as director
of acquisitions for Harsch Investments, a privately
held company that entered the Las Vegas market in 1995
with the purchase of Green Valley Commerce Center. Harsch
Investments will expand its portfolio to 6.6 million
square feet with completion of the 850,000-square-foot
Henderson Commerce Center next month.
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The Donald Trumps Ivana High-Rise
Project
Las Vegas Business Press
July 18, 2005 - Donald Trump, the charismatic and outspoken
real estate developer, recently broke ground on a new $500
million, 64-story condo-hotel, behind the New Frontier on
the Las Vegas Strip. Coincidentally, Trump's ex-wife, Ivana,
just lent her name to a new $500 million, 80story condo tower
at the northeast corner of Sahara Avenue and Las Vegas Boulevard
South.
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Market Conditions for Las Vegas,
Nevada
Realty Times
July 14, 2005 - Las Vegas land prices have soared and the
Las Vegas new homes builders cannot keep up with the demand
as both investors and first time homebuyers vie for available
inventory.
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Median price of LV homes reaches
$300,000
Kevin Rademacher /
Las Vegas Sun
June 7, 2005 - The Las Vegas housing market reached a milestone in May as the
median sales price hit $300,000.
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Rising costs driving mixed-use projects
Kevin Rademacher /
InBusiness Las Vegas
May 6, 2005 - As construction and land costs continue to rise, developers are
looking for a financial advantage by combining residential, commercial and
retail components in so-called mixed-use projects.
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Demand strong for LV industrial space
Hubble Smith / Las
Vegas Review-Journal
April 19, 2005 - Demand for industrial space in Las Vegas remains strong, the
office market has stabilized and retail continues to expand because of robust
economic growth, local sources said in first-quarter reports on the commercial
real estate market.
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City living without the city
Hubble Smith / Las
Vegas Review-Journal
March 31, 2005 - Two new residential developments under way in Las Vegas show
how the city is evolving toward higher-density, mixed-use projects championed
by "smart growth" advocates such as the Urban Land Institute.
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HOME APPRECIATION RATES: Homeowners hit jackpot
Hubble Smith / Las Vegas
Review-Journal
Feb. 20, 2005 - For many Las Vegans who sold their homes last year, they
probably made more money from the increased value of their
homes than they did at their jobs.
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