Locals have long predicted better days ahead for the north edge of the Strip, but a burst of news shows the area is still in flux.
Eli Segall’s Real Estate Insider column appears Saturdays in the Business section.
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Real estate pros have long figured the Durango site would be the first among Station’s desert parcels to get developed.
The casino chain has reached deals since 2019 to lease Bellagio, MGM Grand, Mandalay Bay, Aria, Vdara, and, as announced this week, The Cosmopolitan of Las Vegas.
Christopher Homes announced plans this month for SkyVu, a 102-lot housing tract in MacDonald Highlands.
Ovation Development filed plans for a 55-and-older apartment project behind the Henderson casino.
Over the past several months, some signs that Southern Nevada’s market was tapping the brakes have come and gone.
Some 15 years ago, a builder’s plan to construct high-rises in southwest Las Vegas failed, leaving a giant hole. Now another developer is moving forward with a plan for a big apartment complex there.
Housing markets are always prone to ups and downs, especially in Las Vegas, and no boom lasts forever.
Life Time spokeswoman Natalie Bushaw said its roughly 15-acre plot “is still a planned Life Time athletic resort destination.”
Before last year, Las Vegas’ median house price peaked in mid-2006 at $315,000 – which, adjusted for inflation, is $423,834 in today’s dollars.
Vici Properties and The Blackstone Group are emerging as two of the biggest players on Las Vegas Boulevard.
The Calida Group has drawn up plans for two projects totaling around 450 rental homes in Henderson’s Cadence community.
Sales in the luxury community have accelerated alongside Southern Nevada’s broader housing market.
Lone Star Funds, former owner of the site along Las Vegas Boulevard, obtained county approval in 2012 for a 7 million-square-foot project.