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Category Archive : Development

Oakland Athletics

Athletics Set to Reveal Financing, Construction Plans for Upcoming Las Vegas Stadium

LAS VEGAS, NV – This week, the Oakland Athletics are set to reveal the financing details and overall construction plan for the Major League Baseball (MLB) team’s proposed new ballpark on the Las Vegas Strip, ahead of their highly-anticipated relocation there starting with the 2028 season.

At the meeting of the Las Vegas Stadium Authority scheduled for Thursday, July 18, one of the items on the agenda is the Athletics’ draft development agreement, which is slated to contain a full breakdown of where the money streams that will make the proposed $1.5 billion stadium a reality are coming from, including $380 million courtesy of Southern Nevada taxpayers.

The new home of the Athletics – who are joining the NFL Raiders in moving from their former hometown of Oakland, California – will be on a nine-acre plot of land situated on the 35-acre site of the Tropicana, located at Las Vegas Boulevard and Tropicana Avenue.

Currently, the plan is to demolish the Tropicana to make way for the A’s stadium and to build a new 1,500-room hotel and casino on the remaining acreage. Bally’s Corp., who owns the Tropicana, has stated that they will be imploding the two hotel towers in October.

The A’s home stadium will take the form of a 35,000-seat retractable roof stadium. In addition to the $380 million in public funds that have been earmarked for the A’s new stadium, and the project in its current form could potentially also receive up to $180 million in transferable tax credits as well.

Construction is scheduled to begin on the team’s Las Vegas Strip ballpark in April 2025; the A’s will be playing their final season at their Oakland Coliseum this year, after which they will temporarily be based out of a Sacramento minor league ballpark for the 2025-2027 seasons before moving to Las Vegas.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Renaissance III

Private Equity Firm Purchases Foreclosed Las Vegas Shopping Center for $24.7 million

LAS VEGAS, NV – Renaissance III, an “underperforming” Las Vegas shopping center that recently went into foreclosure, has been purchased by Aspen Real Estate for $24.7 million, as announced by the New Jersey-based private equity real estate investment firm via a press release on Monday.

The 225,748-square-foot property, located in a heavily-populated area two miles from the University of Nevada-Las Vegas at the corner of East Flamingo and East Pecos Roads, was acquired by Aspen from LNR Property LLC, representing the CMBS bond group.

Las Vegas-based Logic Commercial Real Estate, which represented both parties during the transaction, has also been made Renaissance III’s new leasing agent as well.

On the announcement of the sale, Philip Proetto of Aspen pointed out the firm’s long history of investing in foreclosed retail and commercial properties, and stated that he was looking forward to improving the facility and leasing its units to interested parties as soon as possible.

Our history of purchasing foreclosure property helped us secure the contract. Ren III represents a fantastic Value Add opportunity,” Proetto said. “Various tenants have wanted to lease space at the property, but the bond group could not offer tenants money for improvements. Aspen has allocated $7 million for renovations and tenant improvements.”

This acquisition was especially of interest to Aspen, as Renaissance III is located in a very densely-populated area; within a five-mile radius, there are approximately 182,541 households with a total number of 465,278 residents, each and every one of them a potential customer for the shopping center.

We believe this powerful demographic, combined with a 62,000-per-day car count, will attract numerous retailers,” said Proetto.

Current Renaissance III tenants include multiple national chains, such as Planet Fitness, America First Credit Union, Ichabod’s restaurant and gaming, and Panda Express, as well as the Nevada Department of Health and Human Services and several smaller, locally-owned businesses. In addition, Aspen is currently offering a 60,000-square-foot space in the center to several supermarket owners.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Bureau of Land Management

Growing Number of Experts Blaming Bureau of Land Management for Las Vegas Housing Crisis

LAS VEGAS, NV – As the profile of Las Vegas has risen considerably in recent years, prompting many to want to move there to take advantage of its lower cost of living, the city has encountered a housing crisis as demand is currently far outstripping the amount of inventory available to would-be homeowners.

And one of the primary reasons for this crisis, according to a growing number of those in the real estate industry, is due to the Bureau of Land Management (BLM), with the federal agency currently managing nearly three million acres in Clark County; the U.S. government currently owns 80 percent of the land in the state of Nevada overall – the most out of any state in the country – and 88 percent of Clark County.

Mike Ford, co-owner of Las Vegas-based public lands consulting firm Abbey, Stubbs & Ford and a former BLM employee, said there is currently no good reason for the federal agency not to release more land for development in Clark County than they already have, which would go a long way towards alleviating the housing shortage currently plaguing local residents.

There’s 2.9 million acres of BLM land in Clark County, and that’s what we really need to focus on because land managed by the other (federal) agencies is generally not available for disposal because it has environmental attributes or it’s part of a congressionally designated special management unit,” Ford said.

In 1998, the Southern Nevada Public Land Management Act (SNPLMA) was passed that set aside approximately 67,000 acres out of the 2.9 million available in the Las Vegas Valley for development of residential housing units or commercial uses, with an additional 33,000 acres that have also been earmarked for potential development that have not yet been released.

The idea was for the BLM to be totally out of the urban land management business in the valley within five to 10 years,” Ford noted. “And that hasn’t happened.”

Multiple members of Las Vegas’s real estate industry have become increasingly vocal with their complaints over the two main issues they claim are affecting the shortage of land in the valley: zoning issues and permit delays that are seen as restrictive on the part of Clark County, and BLM’s seeming reluctance to set aside more land for residential or commercial development, either by releasing it outright or allowing it to go to auction.

When you have 2.9 million acres of land in Clark County, some of it environmentally sensitive land, which is really important, managing rural lands, why would (the BLM) spend 90 percent of the time on the 67,000 acres that are urban lands that are better managed by local units of government?” Ford said. “That’s the million-dollar question.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

New hotel concept coming to Las Vegas gives visitors ability to customize their space

New Las Vegas Hotel to Utilize Artificial Intelligence to Personalize and Enhance Guests’ Experience

LAS VEGAS, NV – When they open their doors for business later this year, Otonomus Hotel will be offering guests a unique way to ensure a memorable stay each and every time they come: utilizing artificial intelligence (AI) to customize and enhance their experience to their exact needs and wants.

Philippe Ziade, CEO and Founder of Growth Holdings – Otonomus Hotel’s developer – said that this new concept of fully powering a hotel with AI in order to personalize guests’ stay is filling a very real void that currently exists in the current hotel model. And he noted that the firm’s status as not just a real estate developer, but as a tech company as well, ensures that the coding goes hand-in-hand with the bricklaying.

“So, it’s really all these layers that the hospitality industry is missing today. That’s what we’re bringing with the concept. It’s really the best value product on the market – that’s how we see it. Where it gives you the best of both worlds,” Ziade said. “We are different to start with, because we are developers as well as technology developers – not just real estate – so that makes us very unique in connecting these minds across these different industries to create that new concept.”

Currently in development, the “Class A” complex – which will be a hybrid comprised of 60 percent hotels rooms and 40 percent apartments – is situated on a 13-acre plot of land in the vicinity of Allegiant Stadium, located at the corner of Russell Road and Decatur Boulevard. The apartment will feature standard 12-month leases as well as short-term rentals that come fully-furnished.

All rooms will boast interconnectivity via a series of doors that can be locked or unlocked by the hotel’s AI algorithm, allowing guests to book the exact number and configuration of rooms they want for their stay, from just one single room all the way up to a six-bedroom penthouse.

The AI – via a downloadable mobile app – will also function as a “personal assistant” that can be used to request cleaning, as well ordering food, extra towels or toiletries to be sent to your room; the requested items will be delivered via a two-way cabinet by the main door of your room, known as an “E-Butler.”

In addition, the AI will keep a permanent record of the guest’s preferences, so if they return even years later, their room will automatically remember the same exact temperature and language preferences, how they take their coffee, food likes/dislikes, and other settings as before, as well as being able to offer personalized entertainment recommendations and even the ability to check in and out through their phone.

So, two years later you come – we have a better service than a five-star hotel,” Ziade said. “Because they’re not going to remember who you are unless you spend millions of dollars. So that’s what we do.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Welcome Home

Clark County Awards Developer $21.9 Million to Build Affordable Apartments in Las Vegas

LAS VEGAS, NV – The Clark County Board of County Commissioners this week approved two grants totaling $21.9 million from the Clark County Community Housing Fund (CHF) to be disbursed to a developer as part of its “Welcome Home” program, which helps to provide badly-needed affordable housing projects to the Las Vegas Valley.

The grants were awarded to Ovation Development Corporation and its nonprofit partner, Coordinated Living of Southern Nevada (CLSN), who will be tasked with building two facilities that will total nearly 600 affordable apartments.

Construction is anticipated to begin on the first development at the tail end of 2025, and will take the form of a 194-unit affordable senior community located near Burner Avenue and South Las Vegas Boulevard. The second development, slated to break ground in the first half of 2026, will be located in West Henderson on a plot provided by the Bureau of Land Management, and will offer 390 units for low-income working families.

To date, the “Welcome Home” program has awarded a total of $66 million in grants, spread out amongst nine applicants, in order to fund the construction of affordable housing units throughout Clark County. In all, this will result in a grand total of 1,273 units once all work is completed.

Alan Molasky, Chairman and Founder of Ovation Development Corporation, noted that he steadfastly believes everyone is entitled to a place to hang their hat at the end of the day, and is proud that Clark County has shown confidence in his company to help address the affordable housing crisis in the Las Vegas Valley.

Every Ovation project begins with our commitment to the steadfast belief that everyone, regardless of income, deserves a quality home that helps to strengthen individuals, families and community,” Molasky said. “We are grateful for the trust put in us by Clark County, and we do not take this responsibility lightly. This trust is a testament to the incredible work of the entire Ovation/CLSN team and the positive impact we continue to make in our community in our mission to help address Southern Nevada’s critical shortage of affordable housing.”

View a complete list of Welcome Home Community Housing Fund projects.

For more information on the Welcome Home program visit:

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Las Vegas valley

Homebuilders Association: Las Vegas Valley Could Run Out of Land to Develop in Eight Years

LAS VEGAS, NV – According to the Southern Nevada Home Builders Association (SNHBA), the Las Vegas Valley – in the span of as little as eight years – could potentially run out of land upon which to develop housing, a serious situation that the organization said needs to be addressed sooner than later to avoid issues in the future.

SNHBA CEO Tina Frias noted that the eight-year timeframe – based on data supplied by a company called Applied Analysis – necessitates government action to free up additional federal desert lands to develop in order to keep Southern Nevada’s housing supply on par with the current level of supply and demand.

At the end of the day, from a homebuilding perspective, we need more land,” Frias said. “So, it’s important for us to have the land to develop in the first place.”

According to officials, the federal government currently owns 88 percent of the land in Clark County, with over half of that property – 2.6 million acres – managed by the Bureau of Land Management (BLM). A BLM spokesperson said that the 1998 Southern Nevada Public Land Management Act Mandated the federal agency to sell select plots of public land within the Las Vegas Valley, and so far nearly 44,000 acres have been sold or leased, with an additional 27,000 acres still pending.

In an effort to do away with the bureaucracy that some say is the cause behind the difficulties in accessing land for development in Southern Nevada, Governor Joe Lombardo recently endorsed a bill called the Accelerating Appraisals and Conservation Efforts Act in an effort to cut through the red tape and get the feds to release more land in the region for badly-needed home construction.

Nevada families deserve access to attainable housing – and that begins with eliminating governmental barriers to development,” Lombardo said.

According to Redfin, the current median sale price of an existing single-family home in the Las Vegas Valley has jumped 9.2 percent year-over-year alone, driven by low inventory and high demand; opening up more land for development, experts say, would help lower home prices in the long run and make the housing market more affordable.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.


First Stage of Plans for Las Vegas Spaceport Approved by Clark County Board of Commissioners

LAS VEGAS, NV – The Clark County Board of Commissioners have officially approved the first stage of plans for an ambitious project: the Las Vegas Spaceport, which its developer says will build a strong space-based economy in Southern Nevada and will one day become a busy hub for both commercial and private space tourism.

Last week, construction permits were approved for an airstrip for the upcoming the Las Vegas Executive Airport, which will be located at a 240-acre site near Pahrump, north of Highway 160. When the airport complex is completed, according to the project’s CEO Robert Lauer, work will begin on making the connected $320 million spaceport a reality, with a heliport to be built near the Strip in order to transport guests to and from the space-age facility.

But until plans for the spaceport itself are presented to county commissioners for approval, Lauer said the airport will begin efforts to raise its public profile and attract tourists for rides in slightly more conventional aircraft for the time being.

Part one is going to build public support through tourism, because it exposes the average person to what the industry is building and the opportunities that are provided,” he said, noting that visitors would be able to pay $6,500 for rides in fighter jets – which may be available as soon as this summer – that provide enough g-force to simulate the effects of space travel, as well as parabolic flights for $9,000 that actually provide a real zero-gravity environment.

Lauer said that the plans for the spaceport include 40 commercial hangars, a STEM college with advanced flight simulators, a civilian space flight assimilation program, a hotel, passenger terminal, rooftop observation deck and restaurant, with the facility expected to begin looking for an operator within the next three to four years, and actual space travel itself expected to begin within five.

What is on the horizon are space planes,” Lauer said. “There are several companies that we’re working closely with right now that are building the next generation of space vehicles, which I believe will dominate the future of the space industry.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Luxury Multi-Million Dollar Estates

As Hollywood Studios Prep for Las Vegas Move, Landon Miller Homes to Build Ultra-Luxury Multi-Million Dollar Estates

LAS VEGAS, NV – Amid plans amongst major Hollywood studios to begin setting up operations in Las Vegas – along with the steadily growing presence of more and more professional sports teams within the city – Landon Miller, owner of developer Landon Miller Homes, announced this week that his company would be addressing the increasing demand for high-end housing in Southern Nevada by developing a series of ultra-luxury, $15 million-plus homes.

Initiated by the approved plans for a Sony movie studio and the presence of the Las Vegas Raiders, Golden Knights and other sports teams, the demand for ultra-luxury real estate is expected to surge,” said Miller. “Having grown up in California, I’ve always been captivated by its luxury architectural styles. It’s my goal to mirror that level of architecture here.”

The initial residence to be constructed as a part of Miller’s initiative – whose development has already begun, with completion slated for fall 2025 – will be a $22.9 million dollar estate in Southern Highlands, which will take the form of a 9,500-square-foot, three-story home featuring a cutting edge, contemporary design emphasizing clean lines, large windows, light wood tones, and a cement-plastered interior.

In addition, the estate will boast numerous high-end amenities, including a dedicated media and game room with a wet bar; a large, well-equipped gym; a temperature-controlled wine room with a storing capacity of over 750 bottles; a steam room shower with cold plunge; a resort-style pool; ample vehicle storage, with a three-car daily garage augmented by a huge, subterranean seven-car garage; and a large second-floor terrace with breathtaking views of Las Vegas’ skyline.

The Southern Highlands estate represents the first of a series of posh residences that Miller said he intends to design, build, and sell throughout the Las Vegas Valley, each featuring different architectural styles and unique amenities, noting that he intends to make each one distinctly different from one another.

“Despite Las Vegas’ rapid growth and renowned entertainment scene, the city has surprisingly few ultra-luxe homes. As people relocate from Hollywood and other parts of the United States, they’re looking for an elevated level of luxury, and that’s what we’re striving to provide,” Miller said. “More and more, clients come to us with a desire to create homes that truly reflect their personal style and needs. I work hand in hand with our clients to make my vision and the client’s vision come true.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Las Vegas City Council Considering Proposal for New Apartments, Hotel in Arts District

Groundbreaking Held for New Multifamily Complex Flats Arts District; Expected to Open in 2026

LAS VEGAS, NV – The official groundbreaking was held this Thursday for the $112 million Flats Arts District project, an upcoming multifamily complex that is being erected in the Las Vegas Arts District via a joint venture between CEDARst Cos. and Bridge Investment Group.

The project is being constructed at 123 West Imperial Avenue – located one block away from Main Street – and will be comprised of 311 apartment units and 5,100 square feet of retail space on the ground floor.

The property was initially purchased in January for $6 million; as an example of how property values have skyrocketed in Las Vegas over the years, the last time this plot of land was sold – back in 2011 – it went for a mere $322,000, as per Clark County property records.

In a statement, CEDARst Chief Development Officer Mark Heffron noted that the company had been wanting to get in on the Las Vegas real estate scene for some time, with the Arts District property representing the perfect opportunity to finally do so given the area’s growing economy, highly diverse businesses, and close-knit residents.

There is a far greater sense of community in Las Vegas as well,” Heffron said. “This is obvious when spending time in a vibrant and walkable neighborhood like the Arts District. The addition of professional hockey, football and baseball teams are also furthering this sense of community.”

The Flats Arts District project is slated to include 86 studio units, 185 one-bedroom units, 38 two-bedroom units, and two three-bedroom units. It will also have numerous amenities for its tenants, including a fitness center, resort-style spa facilities with saunas, workspaces, and a sunset deck and lounge.

The official ground-breaking ceremony was originally expected to take place in February, but a series of delays pushed it back to late May; the first tenants were expected to be able to move into their units by the end of 2025 and the project finished by March 2026, but now the first completed units will be made available in mid-2026 and the complex itself completed late that same year.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

18b Arts District in Las Vegas

New Mixed-Use Apartment and Retail Complex Under Development in Las Vegas’ Arts District

LAS VEGAS, NV – Las Vegas’ downtown is sorely in need of new housing options for its inhabitants, and as a means to address that issue, construction is currently underway on a large, new mixed-use project in the 18b Arts District that looks to combine apartment units and retail, spread out amongst several buildings.

The project – located at 1200 S. 3rd Street, and dubbed 3rd Street Assemblage – is slated to take the form of three seven story, mid-rise apartment buildings that will offer a total of 337 units for rent, in addition to ground level retail and restaurant space totaling 8,500 square feet in size.

Along with residential and retail space, 3rd Street Assemblage, upon completion, will also offer a 353-space concrete parking structure – complete with electric vehicle charging stations – that will be available for tenant use so that they can avoid having to park their cars on the street.

The developer of the project, Southern Land Company, is also responsible for the Auric and Symphony Park II and III mixed-use projects as well.

Las Vegas Mayor Carolyn G. Goodman said that the development of 3rd Street Assemblage would be an exciting boon to the city’s arts community, which she said so far has been underserved in terms of housing options.

The 18b Las Vegas Arts District continues to be an exciting area that is an inviting destination for artists, visitors and residents,” she said. “For our local arts community, the area has long been ground zero, so it’s particularly exciting to see new housing opportunities take shape for those desiring to live in the epicenter of Las Vegas’ arts community.”

At the groundbreaking for the 3rd Street Assemblage project held in March, Southern Land Company presented a $5,000 donation to the First Friday Foundation to illustrate their commitment to supporting the city’s arts district.

The project is expected to be completed in late 2025; leasing for apartments is slated to begin in the second quarter of 2025, followed by retail leasing in the third quarter of that year. For information on availability, the Southern Land Company is your best bet.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Tropicana Resort

Tropicana Closes After 67 Years, Historic Hotel-Casino to be Imploded for A’s Upcoming Stadium

LAS VEGAS, NV – On Tuesday, the end of an era was marked as the Tropicana Las Vegas – one of the oldest remaining vanguards of the iconic Sin City hotel-casinos of the Rat Pack era – closed its doors for business two days prior to its 67th anniversary, with the structure slated to be imploded later this year to make way for a new stadium for the newly-arriving Oakland Athletics Major League Baseball (MLB) team.

Originally, casino operator Bally’s Corp. had announced that play in the casino would cease at 3 a.m. Tuesday, but in reality, workers had begun breaking down many of the table games at around midnight; the slot machines had already been decommissioned several days prior, and most of the food outlets and restrooms were already closed.

One of the few remaining bars open in the Tropicana, Chill’m, was inundated with customers that evening – including bloggers, YouTubers and influencers – where they celebrated the closing of the iconic hotel-casino with a champagne toast at approximately 1:30 a.m.

In April of 1957, the Tropicana opened with 300 rooms, and had ties to organized crime; today, in its current form, the resort features 1,470-rooms, 50,000 square-feet of gaming floor space, and 72,000 square-feet of convention and exhibit space.

In April 2021, Bally’s entered a deal to acquire the Tropicana from Gaming and Leisure Properties in a deal valued at $308 million. Later, the Athletics’ ownership reached an agreement with Bally’s Corp. and the owner of the resort casino’s underlying land, Vici Properties, to purchase the property for the MLB team’s proposed new $1.5 billion ballpark on the Las Vegas Strip.

The A’s new home is slated to take the form of a 33,000-seat retractable roof stadium, with the team expected to play their first season in 2028.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

New Frontier Hotel

Former Site of Imploded New Frontier Hotel Continues to Sit Unused Nearly 17 Years Later

LAS VEGAS, NV – The New Frontier Hotel and Casino was an iconic sight on the Las Vegas Strip since it originally opened for business in 1931; over the years it changed hands several times until it’s eventual final sale and closure in May 2007. The structure was finally imploded in November of that same year following a fireworks celebration and countdown chanted by onlookers who gathered to see a remnant of Vegas’ colorful past finally crumble to dust.

Nearly 17 years later, the property continues to sit unused; casino operator Wynn Resorts, which bought the land and four adjacent acres in early 2018, has not announced any plans yet, merely stating in a February securities filing that it “may be used for future development” without any further details being provided.

As a result of the inactivity, a 38-acre tract of land is currently sitting unused between Fashion Show Mall and Resorts World Las Vegas. Over the years, the property was bought and sold following New Frontier’s closure by numerous entities before it was purchased by Wynn Resorts, each of which brought different plans to the table that ultimately never came to fruition.

New Frontier sold the 16-story, 984-room hotel-casino in 2007 for $1.24 billion to Israeli investors who subsequently imploded the tower for a multibillion-dollar project that would have seen the construction of a massive resort with 4,100 hotel rooms, 2,600 resort-condo units, and over one million square feet of casino, restaurant, convention, and retail space. However, the project was never realized, due in part to the mid-2000s recession.

From there, the property was acquired in 2014 by Australian billionaire James Packer in hopes of building a 1,100-room hotel-casino; however, funding issues resulted in the project never getting off the ground, leading to Wynn Resorts purchasing the property – in addition to some adjacent plots – for $336 million in 2007.

But while Wynn Resorts founder Steve Wynn had announced at the time that he wanted to quickly develop the land, he would soon resign as chairman and CEO following a series of sexual misconduct allegations.

Since then, the site of the New Frontier Hotel and Casino has sat vacant and unused.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.