Las Vegas Metro Development News

[case_architect]

Multi-family in Cadence

https://www.reviewjournal.com/busine...erson-2479923/

[rockies]

San Francisco Chronicle: A’s make offer on potential ballpark site in Las Vegas area

Kaval has said the A’s are on “parallel paths” pursuing a new venue in Oakland and Las Vegas, and said Friday the Oakland announcement “puts us closer to getting this project in front of the (city) council for a binding vote.”

Of the negotiations in Las Vegas in the meantime, Kaval said, “That’s moving pretty quickly.”

[rockies]

Lake Mead West Apartments breaks ground in North Las Vegas

A new affordable housing development is coming to North Las Vegas. On Monday, the city of North Las Vegas and its development partner Foresight Cos. will officially break ground on Lake Mead West Apartments, a 156-unit housing community at 3300 Coran Lane near Lake Mead Boulevard and Simmons Street, directly across from Ollie Detwiler Elementary School.

[rockies]

The Highline apartments breaks ground in Las Vegas

The project is set to include 294 family-friendly and pet-friendly units, 71 for-sale townhomes and 25,000 square feet of retail space.

Construction begins on medical office building near Summerlin

Site work is underway on Prospect Street founder Scott Goldstein’s three-story, 70,000-square-foot facility along Alta Drive just east of Hualapai Way. The project, Queensridge Medical Center, is already 70 percent leased, Goldstein said.

How Summerlin remains a hot spot among master-planned communities

Summerlin boasts 100,000-plus residents, a network of parks, trails and community centers, and a commercial core with shopping, restaurants, an ice rink, and minor-league baseball. It commands some of the highest home and land prices in Southern Nevada and remains one of the top-selling spots in the nation for homebuilders.

Spanning 22,500 acres along the valley’s western rim, Summerlin still has plenty of room for more construction, too.

https://www.reviewjournal.com/busine...ities-2483355/

[rockies]

Wynn Resorts’ creative arm moving to new building in Summerlin

The Howard Hughes Corp. announced Thursday that Wynn Design & Development signed a lease for 38,800 square feet in the 10-story steel-frame office building under construction in Summerlin’s commercial core off Sahara Avenue and the 215 Beltway.

[rockies]

Station Casinos pitching project near downtown Las Vegas

With a groundbreaking around the corner for its newest Las Vegas resort, Station Casinos is also eyeing a project — a much smaller one — near downtown.

The Las Vegas Planning Commission is scheduled on Tuesday to consider Station’s proposed Wildfire Casino at 2700 Fremont St., just south of Charleston Boulevard. The one-story project would span more than 21,000 square feet and sit on a 5-acre plot, according to city documents.

[rockies]

MGM Resorts considers building another resort on the South End of the Las Vegas Strip + More Headlines

Another resort on the Las Vegas Strip could be in the works for MGM Resorts. The south end of the Strip could get another resort-casino courtesy of MGM Resorts International, which is also working on a strategy to attract more of its regional customers to Las Vegas. MGM’s chief financial officer Jonathan Halkyard said the south end of the Strip, near Allegiant Stadium and T-Mobile Arena, is the new focus for tourists, CDC Gaming Reports writes.

A fix to I-15 traffic congestion on the Nevada-California border is coming — next year

Construction is expected to begin by mid-spring 2022, with completion anticipated by the end of summer 2022.

The governors acknowledged that creating three lanes of highway out of two is a temporary fix to a problem that needs of a permanent solution.

“We’re not passively interested in trying to episodically solve this. We’re here for the long haul. We want to get this fixed. And I made that crystal clear to my team,” Newsom said.

Both governors noted one solution slowly moving ahead is a high-speed train.

[rockies]

I'm not sure how important it is to listen to someone that goes by Condo King of Miami, but it is interesting to read that high-rise residential costs seem to be far more expensive here as opposed to other cities because there are so few multifamily buildings. Hopefully that changes and current high rise projects get built...

‘Condo king’ of Miami looks back on his days in Las Vegas

Southern Nevada, a heavily suburban market dominated by single-family housing tracts, was in the throes of high-rise mania during the mid-2000s. Easy money sloshed around for buyers and builders, fueling a construction boom and sending property values soaring.

With so many high-rises on the books, people called it the “Manhattanization” of Las Vegas.

In the end, most of the proposed towers never materialized. The real estate bubble burst, the economy tanked, and in some cases, would-be condo developers left giant holes in the ground — gaping reminders of the frenzy.

[rockies]

Originally Posted by rockies

County OKs new retail project on Strip

Found a recent update on this shopping development called 'Project63' downtown

Construction underway on new Strip retail complex

Crews are working on the foundation and a crane is in the air at Project63, a four-story retail development at the multi-tower CityCenter complex.
The building frame is scheduled to be finished by the end of March, and the project altogether is slated to be completed by fall 2022, project manager Ron Hall told the Review-Journal.

[rockies]

Wait... so the mirage is going to become the hard rock?

Guitar-shaped hotel is latest themed project for Strip

Hard Rock International announced Monday that it is buying The Mirage’s operations side from MGM Resorts International for more than $1 billion in cash. Through the deal, it said, it plans to build a guitar-shaped hotel tower on the Strip.
The purple-hued tower would feature six light beams shooting into the sky as if they were strings on a guitar neck, with the former Mirage, rebranded and remodeled as the Hard Rock, next to it, according to a rendering.

[rockies]

Two really good videos on how poorly roads are designed and managed in Vegas! Great to see high quality content on these subjects as they usually are completely ignored.

City Beautiful: Let's Redesign The Las Vegas Strip

CityNerd: The Stroad: A Case Study // Intended (and Unintended) Consequences of Car-Oriented Street Design

[rockies]

I have got a good feeling about Brightline. It's really huge that they figured out a near one seat ride all the way to LA. A transfer to metro link via Rancho Cucamonga is lightyears better than getting dumped in Victorville. Plus they have already demonstrated the ability to build new tracks and operate existing passenger service elsewhere.

Las Vegas-to-L.A. High-Speed Rail Construction Could Begin Next Year

The review focuses on a 49-mile section of Brightline West, the planned service, in California’s Cajon Pass by the Transportation Department’s Federal Rail Administration, the agency said. That segment of the railway, starting in Rancho Cucamonga, would run at speeds of up to 180 mph and connect to a previously approved 216-mile portion from California’s Victor Valley to Las Vegas (speeds on that segment will be up to 200 mph). The assessment could be completed by this November, allowing Brightline to finally begin construction of the project, with an aim of launching passenger rail service in 2026

Rancho Cucamonga Station

[rockies]

Explore how construction has shaped the Las Vegas Valley through maps and charts

Awesome maps and charts on here! Especially this one... interesting how rapidly multifamily housing construction collapsed.

[rockies]

Sad - Luxury housing project taking shape at former Bonnie Springs Ranch

Once home to mock gunfights and a petting zoo, the former Bonnie Springs Ranch is set to take shape as a luxury housing enclave.

Developers of The Reserve at Red Rock Canyon, as the property is now known, held a ceremonial groundbreaking Tuesday for the desert outpost west of Las Vegas. It is slated to feature 16 homesites ranging from 2 to 4 acres each.

https://www.reviewjournal.com/busine...ranch-2545718/

[rockies]

Other development related news:


Cherry Development Starts Construction on Las Vegas Community

The four-story shareDOWNTOWN Fremont East will have 84 one-bedroom units that are 480 square feet, Cherry told MHN.

Nevada town with no residents on verge of growth after more than a century

The casino closed during the pandemic shutdown and was previously called the Gold Strike Hotel and Gambling Hall and before that Pop’s Oasis. The most recent owners of the casino who also own other parcels of land have now been sold to Tolles Development Co., a Reno company that reportedly will be building an industrial park, for more than $40 million.

Also about the Cherry development
Las Vegas developer building more apartments downtown

The roughly $20 million project is slated to open in January, he indicated

Station Casinos celebrates launch of $750M project in SW Las Vegas

Red Rock Resorts Inc. Chairman and CEO Frank J. Fertitta III, Vice Chairman Lorenzo J. Fertitta and an estimated 300 workers from Station properties attended the event off the 215 Beltway at Durango Drive, the site of the 200-room, $750 million project slated to open in late 2023.

[chris08876]

Developers Secure $2.2 Billion in Financing for Planned Las Vegas Resort
Fontainebleau Project Near Convention Center Among the Largest Underway Along Vegas Strip



December 28, 2022

Developers of the long-delayed Fontainebleau resort and casino have obtained $2.2 billion in construction financing, putting one of the Las Vegas Strip’s largest development projects on track for planned completion in the fourth quarter of 2023.

Fontainebleau Development President Brett Mufson called the financing a milestone, after his Aventura, Florida-based company and partner Koch Real Estate Investments of Dallas, Texas, obtained the backing from several lenders led by J.P. Morgan, according to a statement from developers.

“Securing $2.2 billion in financing in today’s market speaks to the widespread confidence in the project, and the team that’s come together to bring it to Las Vegas,” Koch Real Estate President Jacob Francis said in the statement.

The 67-story resort is under construction on 25 acres at 2755-2777 S. Las Vegas Blvd. on the northern end of the Strip near the Las Vegas Convention Center. Plans include 3,700 hotel rooms, 550,000 square feet of convention and meeting space, and several gambling, dining and retail venues.

In its own statement, New York-based investment firm VICI Properties said it contributed $350 million in mezzanine loan financing toward the project. Developers said other firms involved in the financing included SMBC, Blackstone Real Estate Debt Strategies and Goldman Sachs.

Construction on the Fontainebleau began in February 2007, but the project has since had several stops and restarts because of financial obstacles and changes in ownership, according to local media reports. Current developers acquired the property in February 2021.

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https://www.costar.com/article/12854...s-vegas-resort

[taestell]

There is a huge amount of development happening in Las Vegas right now — both renovations of existing resorts and shopping centers, and construction of new ones — but one of the biggest transformations coming soon might be on the east side of the Strip directly across from CityCenter. There are two separate projects moving forward that will replace a budget motel, outdated retail space, and surface parking lots with a new casino resort and high end shopping center.

The retail building at the SE corner of Harmon Ave. & Las Vegas Blvd. (currently home to the Tex Mex Tequila Bar & Grill and some other shops, formerly the Harley Davidson Cafe) and the Travelodge Center Strip have been acquired by Tilman Fertitta who also owns the Golden Nugget in Downtown Las Vegas. It is rumored that he will build a new casino resort on the 7.8 acre site which sits across the street from The Shops at Crystals. The Travelodge has already been demolished but the restaurant and shops are still operating (as of my visit in late December). Fertitta owns the Post Oak Hotel in Houston, Texas, and it is rumored he could bring that brand to the Strip.



Just south of that site, Gindi Capital has acquired two shopping centers, the Hawaiian Marketplace and Cable Center Shops, which they plan to demolish and replace with “a new flagship retail, entertainment and dining experience.” Both of the existing shopping centers have already closed. This site is directly across the Strip from the Waldorf Astoria hotel, which was previously the Mandarin Oriental.

You can see the former Travelodge (now a vacant lot) on the left and the former Hawaiian Marketplace on the right (in front of the Polo Towers building):



The Cable Center Shops sit directly south of the Hawaiian Marketplace:





Gindi Capital also owns the Showcase Mall, just south of the Cable Center Shops site. A new Brewdog brewery and restaurant just opened on the rooftop which has a great view of the Strip:

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Across the street from the Tilman Fertitta project, at the SW corner of Harmon Ave. and Las Vegas Blvd., a new shopping center called 63 Las Vegas is nearing completion. This lot has been vacant since the demolition of The Harmon, a hotel and condo tower that was partially built but demolished before opening due to the discovery of construction defects:

[ChelseaFC]

Originally Posted by taestell

The retail building at the SE corner of Harmon Ave. & Las Vegas Blvd. (currently home to the Tex Mex Tequila Bar & Grill and some other shops, formerly the Harley Davidson Cafe) and the Travelodge Center Strip have been acquired by Tilman Fertitta who also owns the Golden Nugget in Downtown Las Vegas. It is rumored that he will build a new casino resort on the 7.8 acre site which sits across the street from The Shops at Crystals. The Travelodge has already been demolished but the restaurant and shops are still operating (as of my visit in late December). Fertitta owns the Post Oak Hotel in Houston, Texas, and it is rumored he could bring that brand to the Strip.

Just south of that site, Gindi Capital has acquired two shopping centers, the Hawaiian Marketplace and Cable Center Shops, which they plan to demolish and replace with “a new flagship retail, entertainment and dining experience.” Both of the existing shopping centers have already closed.

Was the Walgreens site also purchased as part of the Cable Center deal, or is that staying?

Any word or estimate on the purchase prices for those sites? Those are both prime real estate across from CityCenter.

[taestell]

Gindi Capital did acquire the retail and parking lot behind the Walgreens, but the Walgreens lot/building itself is owned by a different LLC. So I would guess the Walgreens will remain while the new mall wraps around it. They reportedly paid $172 million for the real estate.

Update: I was able to find a rendering of the proposed development in the article linked above, and it does in fact show the Walgreens remaining as-is:

[case_architect]

33-Story Condo Tower + Supermarket topped with 2 floors of offices, proposed for Symphony Park.

https://www.reviewjournal.com/local/...s-2722043/amp/