Brownstone living coming with Presidio Heights
A partnership of former Las Vegas real estate brokers is developing a 10-acre gated community of brownstone homes in the southern Las Vegas Valley.
Presidio Heights, off Southern Highlands Parkway at Starr Avenue, will have 120 units with a clubhouse, pool and Jacuzzi, OLM founding partner Richard Orosel said. Burke & Associates is the general contractor.
“Everybody has talked about bringing the brownstone concept to Las Vegas, but we’re the first to get it out of the ground,” Orosel said during a tour of the $10 million first phase of construction.
The first eight units are scheduled for completion in the fall, including three units in the three-story clubhouse. Floor plans range from 1,500 square feet to 1,869 square feet. Prices start from $469,000.
The perimeter of Presidio Heights will have two-story townhomes and interior buildings will have the appearance and appeal of the traditional brownstone neighborhood.
Carina Corp., a private, Las Vegas-based home builder, had planned to build brownstones at the 40-acre Village at Centennial Springs in northwest Las Vegas. But the development never materialized after Carina founder Mark Doppe sold his company to Lennar Homes.
Urban Village, a 50-acre development proposed for the south Strip, also featured brownstone homes. But land owner Philippe Pageau-Goyette sold to Centex Destination Properties and the company later allowed the option on the land contract to expire.
OLM formed a joint venture with the Feledy family of New Jersey, owner of the land since the early 1960s. That brought about $4 million in equity to the project, Orosel said.
His partners are Chad Laposky and Kevin McCarthy. Together, they’ve brokered more than $100 million in land acquisition, construction and financing.
VERGE SALES: The $135 million Verge condominium project planned for downtown Las Vegas sold 229 units, roughly 75 percent of the project, at a single-day event for preferred buyers.
Prices for the 296-unit, 300,000-square-foot midrise community at Bonanza Road and Main Street started at $149,900. Construction is scheduled to start this summer and finish in fall 2008.
Verge Living Corp. President Darren Dunckel said Verge would be home to three new restaurants and bars: Tinoco’s, a downtown favorite in the arts district; Bonjour Bistro, serving Southern French cuisine; and Classic Vines, a wine bar.
BOYD OFFICES: Crisci Builders of Las Vegas has completed $1.8 million in tenant improvement work for executive offices of Boyd Gaming Corp. at 3883 Howard Hughes Parkway. Paul Auzenne was project manager; JMA was the architect.
RETAIL FUNDING: Inland Mortgage Capital Corp. funded a $14.4 million loan to build a 36,000-square-foot retail center at Blue Diamond and Cimarron roads in the southwest Las Vegas Valley.
MILLION-DOLLAR HOME SALESLuxury Homes of Las Vegas reported the following million-dollar home sales last week:
$1.24 million, 6 bedroom, 6.5 bath, 5,756 square feet, Strip and mountain views, bonus room with theater, Anthem Country Club.
$3 million, 3 bedroom, 3.5 bath, 4,830 square feet, lakefront property with boat dock, rooftop terrace with views, Lake Las Vegas.
$1.55 million, 4 bedroom, 4.5 bath, 4,403 square feet, one acre, wet bar, theater, gourmet kitchen island, Northwest.
$1.51 million, 5 bedroom, 4.5 bath, 4,252 square feet, remodeled elegance in Eagle Hills, pool, barbecue and fire pit, Summerlin.
$1.26 million, 5 bedroom, 4.5 bath, 4,199 square feet, detached casita, Strip view, stainless-steel appliances, Summerlin.
$1.43 million, 3 bedroom, 3.5 bath, 4,889 square feet, waterfront with private dock, basement, three balconies, Desert Shores.
$2.05 million, 4 bedroom, 4.5 bath, 5,938 square feet, top floor penthouse with 280-degree views inside Las Vegas Country Club, Regency Towers.
$2.8 million, 5 bedroom, 6.5 bath, 6,422 square feet, disappearing wall, theater, exercise room, waterfall pool, four-car garage, MacDonald Highlands.
$1.72 million, 4 bedroom, 6.5 bath, 5,000 square feet, courtyard with fireplace, hardwood flooring, five fireplaces, Summerlin.
$1.55 million, 5 bedroom, 5.5 bath, 4,280 square feet, with casita, skylights, Viking appliances, Summerlin.
$1.5 million, 4 bedroom, 4.5 bath, 4,839 square feet, over $200,000 renovation, four-car garage, one-third acre cul-de-sac lot, Summerlin.
