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.
Real Estate Insider
Eli Segall’s Real Estate Insider column appears Saturdays in the Business section.
esegall@reviewjournal.com … @eli_segall on Twitter. 702-383-0342
After Siegfried & Roy’s run ended on the Las Vegas Strip, they made millions in one of Southern Nevada’s other favorite pastimes: real estate.
Don’t expect a big burst of real estate action anytime soon.
A bankruptcy court auction is scheduled to be held May 19 for a 38.5-acre spread along Las Vegas Boulevard across from Mandalay Bay. Bids were due Thursday.
People are still buying homes, and builders are still building, but the pipeline of sales is shrinking fast amid the turmoil.
Gov. Steve Sisolak last week cited one reason in particular why he let construction keep going in Nevada: jobs.
The economy is in crisis again because of the coronavirus pandemic — but foreclosures are on pause, stopping what could have been an avalanche of repos.
With Las Vegas largely at a standstill over fears of the new coronavirus, the real estate market is bound to take a hit. But for now, construction is still chugging along.
With fears of the coronavirus upending daily life in Las Vegas and across the U.S., the homebuilding market, like other industries, faces a scary stretch ahead.
Las Vegas’ economy was humming along — and then the coronavirus hit.
Investors paid a median of about $383,840 per acre last year for Southern Nevada land, up more than double from the depths of the Great Recession, according to figures from John Stater, Las Vegas research manager at brokerage Colliers International.
The football team hasn’t finished building the complex in Henderson, let alone played a game in Las Vegas, and it’s already flipping real estate here.
Jay Snowden, president and CEO of Tropicana owner Penn National Gaming, told analysts that there has been plenty of “unsolicited interest” in the 35-acre hotel-casino.
Station owns around 380 acres in the valley outside its resorts. The locals-focused casino operator didn’t say which plots would get listed.
With builders putting up apartments, hotels, warehouses, a football stadium and more, Las Vegas is in the midst of another construction boom.
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