Buoyed by shrunken borrowing costs, Las Vegas’ housing market has reached new heights multiple times during the pandemic.
Real Estate Insider
Eli Segall’s Real Estate Insider column appears Saturdays in the Business section.
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But Derek Stevens’ project, Circa, opened its casino, restaurants and year-round pool complex in downtown Las Vegas on Wednesday. Its 777-room hotel tower is scheduled to debut at year’s end.
Los Angeles investor Jonathan Kermani bought the building for almost $4.3 million.
The new record shouldn’t be much of a shock, given the market’s surprising performance in an otherwise dreadful economy.
Developer Bob Schulman has opened another rental property crammed with amenities at a time when the coronavirus pandemic has battered Las Vegas’ economy and cast a shadow over the rental market.
Clark County commissioners on Sept. 2 denied Josh Kearney’s request for an extension of the approvals on his planned $800 million attraction south of the Strip.
Atlanta-based homebuilder Beazer Homes bought a tract of land during the bubble days in Indian Springs, a quiet, pint-sized community, and filed plans to build a subdivision.
The Herbst family, operators of the Terrible Herbst gas station chain, has drawn up plans for a five-story, 208-room nongaming hotel as well as retail and restaurant space in Jean.
Investor Wayne Perry is taking ownership of the site of SkyVue, an unfinished eyesore across from Mandalay Bay. No word yet from the Seattle-area businessman on what plans may hold for the Las Vegas Strip land.
In the early 1960s, with gamblers rolling the dice at the Dunes and the Stardust, Irwin Molasky made a different sort of wager: that people would move in droves to a stylish, resort-like community.
Southern Nevada homebuilders signed nearly 1,230 sales contracts in June, the most since February.
With the Aviators going dark this year , the brunt of the financial pain falls on team owner Howard Hughes Corp.
Derek Stevens can only hope his new resort, Circa, fares better than the last new hotel-casino to open in Las Vegas: the Lucky Dragon.
Las Vegas’ housing market is showing signs that its pandemic-sparked turbulence is easing. But it’s too early to say whether the worst of the crisis is over for Southern Nevada’s housing market.
Hughes Corp. chairman Bill Ackman tweeted May 21 that Tesla boss Elon Musk should consider one of the developer’s master-planned communities in those states and to “take a close look” at Summerlin.
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