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Category Archive : Development

Focus on Downtown Las Vegas Construction Bringing Influx of Jobs to Area, Many With Higher-Than-Average Wages

LAS VEGAS – The Vegas economy continues to have its fires stoked with a renewed focus on development in recent months, centered on construction projects in the famed downtown district. With a renewed emphasis on renovating existing facilities and building new ones, hundreds of employment opportunities have been made available, and due to tight deadlines these projects impose, many jobs need to be filled quickly and often for higher-than-average wages. 

Experts are predicting that within the next ten years, real estate in the Las Vegas valley will become some of the most valuable in all of Southern Nevada. File photo: Pixabay.

Essentially, if you’re looking to find a job and aren’t afraid of getting your hands dirty, it’s a win-win situation for all involved. Penta Building Group is currently heavily involved in the construction of the Expo at World Market Center in Vegas’ downtown region; reports estimate that at least 500 jobs are being made available in order to bring the $100 million project to life, both on-time and on-budget. Reportedly the jobs offered run the gamut from skilled tradesman such as electricians and plumbers to rank-and-file laborers, the very backbone of any construction project.

Another project in the works is a hotel dubbed Circa, owned by developer Derek Stevens and slated for construction in the valley. Currently, the project is in need of 1500 workers, and is being heralded as one of the first casinos built in the downtown Las Vegas region in decades. In addition, reports also indicate that two large apartment complexes are going to be soon erected in Las Vegas’ Symphony Park, with the twin facilities known as Aspen Heights and Southernland.

Still more jobs are up for grabs from hotels and casinos that are in the midst of giving themselves a face-lift; renovations and upgrades are happening all over the downtown area and along the Las Vegas strip in order to offer more entertainment options and amenities for the growing tourist population that visit the city on an annual basis.

With all of this construction and the many jobs it will create, comes at a period of time where prices for real estate in downtown Las Vegas are currently on the rise. In fact, within the next 10 years, experts are predicting that real estate in the Las Vegas valley area will become some of the most valuable in all of Southern Nevada; with that being the case, many companies are now pouring development efforts – and dollars – into developing in the area while it is still relatively 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.

Florida-Based Real Estate Firm Acquires Two Vegas Strip Malls

LAS VEGAS – Pebb Enterprises, a Florida-based real estate firm, has been on a bit of a buying tear in Las Vegas as of late, seemingly investing a serious amount of capital in the city’s retail infrastructure; a bold move, according to experts, considering the at-times shaky nature of the real estate scene in Southern Nevada – and the country as a whole.

Ian Weiner, PEBB President & CEO, said in a statement that the acquisition of Rainbow Promenade and Cheyenne Commons firmly cements PEBB’s presence in the Las Vegas market.

Last month Pebb purchased Rainbow Promenade, a retail plaza located at the corner of Rainbow Boulevard and Smoke Ranch Road. The plaza, coming in at 220,279 square-feet, sits on a 22-acre plot of land and recently underwent $5,000,000 in renovation work. The shopping center is almost completely occupied, and features high-profile tenants such as Barnes and Noble and Hobby Lobby. Only 2 percent of retail space remains for rent, according to reports, and business overall is said to be brisk in the shopping center.

This represents a significant turnaround for Rainbow Promenade fortunes; in 2013, the plaza was in foreclosure, but according to recent reports, it has regained its financial composure and currently boasts strong and consistent sales.

This acquisition follows Pebb’s purchase of Cheyenne Commons in March, a retail center situated on a 35 acre plot of land located one mile up the road. While reportedly a solid purchase, Cheyenne Commons does not currently feature nearly-full occupation like Rainbow Promenade does.

Some experts question Pabb’s increased investment in retail during a period where brick-and-mortar stores are being forced to endure increased competition from online retailers such as Amazon and eBay, entities that typically are able to sell goods at far cheaper prices while enjoying reduced overhead costs. With the recent announcement of Amazon offering free one-day shipping in the near-future to Prime members, retail in general appears to be facing an uphill battle in our country going forward.

As a result of the increased competition from online retailers, physical stores have increasingly faced financial hardship, with many closing their doors almost as quickly as they first opened. For example, a recent report revealed that it is estimated that approximately one-half of all shopping malls currently open today may be closed within the next 10 years, which is a sobering reality of today’s retail climate.

Pebb representatives noted in a statement that the retail establishments in Rainbow Promenade frequently feature strong sales numbers, and that the majority of the tenants in the plaza have recently-renewed lease agreements. The strip mall itself is in a highly visible location, close to populated residential areas and busy roadways. These factors, along with others, may prove to be saving graces for the retail scene in Vegas, and prove that Pebb’s investment, at least for now, is a solid one.

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 Stadium Crews Set to Enter “Most Dangerous” Phase of Construction for Future Home of Raiders Football Team

LAS VEGAS – Work on the Las Vegas Stadium – the near-future home of the famed Oakland Raiders National Football League (NFL) team – has entered what the reports are referring to as the “most difficult” and “most dangerous” phase of its ongoing construction efforts. Since breaking ground on the new $2 billion, 65,000-seat stadium on Nov. 13, building crews are set to begin elevating 22 canopy trusses – each weighing 65 tons apiece – in order to affix them to the rim of the stadium at its highest points, many of which are as high as 120 feet off the ground.

These efforts require complex and exceedingly precise work between multiple departments involved in the construction of the stadium, such as the engineers, supervisors, iron workers, and more, all while taking into consideration the weather on any given day as rain or even minor shifts in wind velocity can have a major effect when working with the canopy trusses at such heights. Reports note that work can only take place at times when winds are lower than a sustained 17 miles per hour, for example. Regardless, lifting and affixing the canopy trusses will be relatively unique each and every time it is done, with work crews having to take into consideration any number of random variables that may not have been anticipated during the initial planning stages.

In addition, the canopy trusses must be put in place with extreme precision in order to incorporate them into the enormous translucent roof of the stadium, which will enable natural light to permeate the interior in order to give attendees the feeling of being outdoors. The roof is currently slated to be constructed on the floor of the stadium, and once the canopy trusses are in place, the roof will be lifted and affixed to them. Placement of the canopy trusses is slated to be completed by July 31.

Work on the stadium is currently going according to schedule, reports say, with anticipation of the Raiders playing the opening game of their 2020 season there. Anticipation of a major NFL team now calling Las Vegas home has helped to spark the local Las Vegas economy, driving businesses and tourism to the region and greatly increasing the city’s fortunes since its come back from the mid-2000s recession.

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.

Innovative “Box Home” Manufacturer Looking to Set Up Shop in Las Vegas; Raising $30 Million to Establish First Factory

LAS VEGAS – Boxabl, an innovative new company that develops what they refer to as a “universal building box” – a fully customizable building system they claim allows for “true mass production” of buildings – is looking for the perfect location to set up their first facility, and they currently have their eyes set squarely on Las Vegas as their main candidate.

Boxabl notes that the company developed boxes can be mass produced in a factory; these boxes are essentially pre-made rectangular rooms that can be shipped flat – only 8.5 feet wide – to a building construction site, “unfolded,” and then incorporated into the structure, allowing for higher quality buildings at lower prices. The universal Boxabl box is a 20’x40’x9.5′ room that can be stacked, combined, modified, sub divided and finished to create almost any style of building at a fraction of the cost of a regular build, according to Boxabl.

If these boxes work according to plan, experts say, they could reduce average construction times by months and building costs by thousands, which would result in lower-cost homes and buildings by as much as 30 percent or more. The boxes – made from laminated expanded foam and cement board – would only be sold directly to construction companies and developers – not individuals, according to reports, as the average individual would not possess the know-how or support to properly utilize the system. The box construction and materials, Boxabl notes, make the rooms fire-resistant, impact-resistant, and weather-resistant.

Boxabl was founded in 2017, and was heavily noticed at the International Builders’ Show in Las Vegas after they showed off a box prototype. Currently, the company is in the process of raising $30 million to establish their first factory, which they want to set up in North Las Vegas, an epicenter of business and industrial development in recent years. If successful, the Boxabl factory would be located on a plot of land at least 40 to 50 acres in size, with their innovative boxes eventually becoming one of the largest and most-well-known products produced in Southern Nevada.

Time will tell, however, if Boxabl’s boxes gain the traction the company hopes for; if they do, the construction industry could be revolutionized.

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’ Circa Hotel-Casino Hits Major Construction Milestone

LAS VEGAS – The Circa hotel-casino, the latest high-profile resort to grace downtown Las Vegas, recently hit a major construction milestone on its way to its planned December 2020 opening with the pouring of its foundation, courtesy of 2,050 cubic yards of concrete delivered via a whopping 205 transport trucks. The Circa, located at 18 Fremont Street, slated to be a 1.25-million-square-foot, 777-room resort, casino, and spa, is set to hold a variety of immersive culinary, entertainment and gaming experiences.

“Today marked one of the first of many incredible moments in the story of Circa,” said Downtown Las Vegas developer Derek Stevens. “We are literally and physically laying the foundation for what’s to come and can’t wait to introduce Circa’s exciting new offerings to the 24 million people that visit Downtown Las Vegas every year.”

In addition to a plethora of amenities for guests and tourists to take advantage of, the Circa will also boast the largest sportsbook in the country. A sportsbook (or a race and sports book, sometimes abbreviated simply as book) is a place where a gambler can wager on various sports competitions, including golf, football, basketball, baseball, hockey, soccer, horse racing, greyhound racing, boxing, and mixed martial arts.

Experts are predicting that the action in Las Vegas in the near future will eventually evolve, moving away from pure gambling and gravitating towards more sports-related betting; the growing sports industry in Las Vegas is certainly one of the catalysts for this change, mostly due to the move of the NLF Raiders football team to Vegas in 2020. This changing landscape is being spearheaded by Circa’s focus on the sportsbook aspect of its business.

In addition, experts note that, as Vegas continues to grow, it will attract more and more tourists that are budgeting their dollars to rooms and experiences outside of gambling; people are visiting the city more for the attractions and sporting venues, and less for the card tables and slot machines.

Stevens, owner of the Circa, has retained the services of architecture and design firm Steelman Partners, in conjunction with contractor McCarthy Building Companies Inc. and construction manager Tré Builders. The hotel-casino, initially announced at the Downtown Las Vegas Events Center in January 2019, also holds the distinction of being the first downtown Vegas resort to be built from scratch – as opposed to the renovation or re-purposing of an existing structure – since 1975.

Derek Stevens is also the owner of several other Las Vegas properties, including the Golden Gate and the D Las Vegas hotel-casinos.

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.

Elon Musk’s ‘Boring’ Company Recommended to Build “People Mover” to Service Las Vegas Convention Center

LAS VEGAS – Elon Musk, technology entrepreneur, investor, engineer, and co-founder of Tesla, Inc., has been recommended for another company he owns – The Boring Company, an infrastructure and tunnel construction company – as a leading candidate to work on a massive tunnel project in Las Vegas on behalf of the city’s convention center.

The Las Vegas Convention Center Loop will connect its new exhibit hall with the existing campus (North/Central/South Halls). Image Credit: Tvsdesign/Design Las Vegas and The Boring Company

The Boring Company has been pegged for a project involving the construction and operation of a “people mover” that would service the Las Vegas convention center, slated to be completed in time for the January 2021 Consumer Electronics Show, according to officials.

A people mover is a type of small scale automated guide-way transit system, and in the case of the one envisioned for the convention center, it would only serve for local transport; while many people movers transport passengers from airports, downtown districts or theme parks to other destinations, the convention center’s people mover would be more limited in scope, solely dedicated to servicing event attendees.

Before work can begin, however, the Las Vegas Convention and Visitors Authority must vote upon the measure; if the contract is awarded to The Boring Company – one of the cheaper overall bidders – the project will enter a design phase followed by the commencement of actual construction, with an estimated cost of anywhere up to $55 million, according to officials.

In addition, The Boring Company’s estimate for the overall length of the project was considerable faster than their competitors with President Steve Davis claiming the project could be completed within the span of just one year.

The people mover concept for the convention center is still in its infancy, and thus there are various details that have yet to be solidified. While the project will ultimately take the form of an underground tunnel that will take passengers from the station to locations within the convention center, it is not currently known what the exact transport method will be for taking visitors to and from their individual destinations. Among the options being weighed by officials include Tesla Model X or Model 3 motorized vehicles, as well as an electric tram capable of holding up to 16 passengers. The amount of stations and their locations within the center have also not yet been determined.

The Las Vegas Convention Center, ever embracing new tech, has been expanding recently, with the final result encompassing two miles from end to end; the addition of the people mover is expected to make negotiating the vast complex far more manageable once work is complete for the estimated million people who visit the site on an annual basis.

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 Strip Property Expected to Fetch Upwards of $50 Million an Acre by 2020, Says Head of Global Gaming Group

LAS VEGAS – At a recent meeting of the Economic Club of Las Vegas, economic experts predicted that the already rapidly rising property prices on the famed Las Vegas Strip could continue their upward trend well into the next decade.

John Knott, head of the CBRE Global Gaming Group, noted that heavy demand for the limited parcels of land on the Strip could translate to a mammoth value of $50 million an acre once a mass series of construction and development projects slated to begin in 2020-21 begin. This is in heavy contrast to current values which are still far below the $30 million an acre level.

Land sales have recently begun to take off on the Las Vegas Strip; before, while much of the city was held in the grip of the housing crisis, plots of land often laid unused for years at a time. But with the recovery of the real estate market and subsequent housing boom taking Vegas by storm, prices have been on the rise at levels not seen in ages. As a result, Knott’s hefty prediction which are to come near the turn of the decade are not appearing to be too far-fetched, given current conditions.

Part of Knott logic, according to reports, is dependent upon the estimated 2020-21 completion of several high-profile construction projects, such as the expansion of the Las Vegas Convention Center, as well as the opening of Resorts World Las Vegas, the Las Vegas stadium, as well as other developments that will only serve to drive up the value of any surrounding undeveloped land. Anticipation of new transportation infrastructure in order to serve these new venues on the Las Vegas Strip will also add to the asking price of any remaining property, and as plots of land are snapped up, the value of any remaining plots will continue to escalate.

In addition, as the population of Vegas continues to increase as more out-of-state residents transplant themselves here to take advantage of the very healthy job market, reports indicate there exists a possibility that the Strip may be increased in length in order to accommodate growth which could also bring additional development to areas adjacent to the Strip as well.

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.

Southwest Las Vegas to Be Home of Massive New “UnCommons” Mixed-Use Project; Mini-City Within City

Southwest Las Vegas to Be Home of Massive New “UnCommons” Mixed-Use Project; Mini-City Within City

LAS VEGAS – Southwest Las Vegas will be the home to a massive new mixed-use project, combining business, retail, entertainment, and food all in one package, dubbed the “UnCommons.”

Slated to be constructed off of Durango Drive and the 215, UnCommons – once completed – will essentially be a mini-city within a city, a space where the people working there will have all their needs and amenities right at their fingertips. The point of the project, reports say, is to attract businesses and their workers to the valley to provide support once they’re there.

Developers of the UnCommons project have extensively studied similar set-ups in other states and will be one-of-a-kind in Southern Nevada, designed from the ground-up as a “Town Square” of sorts to cater to the needs of the tenants who live and work in this area. It will include various exercise studio and relaxation options, numerous food, shopping, and entertainment options, all within walking distance of both an employee’s place of work and their luxury apartment complex.

Initial plans for the project call for 150,000 square-feet of office space in conjunction with restaurants, shopping establishments, several parking garages, and 875 apartments. Developers have noted that they have had preliminary talks with several business tenants – both in Nevada and beyond – in regards to taking up space at the UnCommons facility.

Phase one of the UnCommons project – currently budgeted at approximately $400 million – is set to break ground in 2020, and as long as there are no unexpected issues, completion of construction is expected by the middle of 2021. Additional phases of the project are expected to be announced in the near future, but will likely consist of an expansion of phase one, with more apartments, retail, and business space added to the existing concept based on initial response.

The development is expected to be a boon for local area residents as well, who will be able to access the conveniently-located public retail and entertainment options built within rather than having to commute to farther areas such as Henderson for a afternoon or evening out. The project is also expected to have an impact on the cost of local homes for sale as well as traffic in the region – both which are expected to rise as a result – however, many see the positives of the UnCommons to outweigh the negatives.

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.

Increase in Home Construction Reported in East Las Vegas

LAS VEGAS – While Southern Nevada as a whole has been experiencing a swell in the number of areas with increased construction in response to the overwhelming demand for affordable housing, reports indicate that the fastest rising region overall is in Eastern Las Vegas Valley.

This news comes to the surprise of many, as you would expect this activity to come out of a larger and more well-known area in the Valley, but the need for new homes – spurred on by a rapidly-growing economy and business/job/real estate market – is being felt all throughout Las Vegas. Ultimately, people are taking property where they can get it, and due to the fact that East Las Vegas is a lesser-known area, home costs are subsequently lesser; an attractive prospect for many facing skyrocketing home prices currently dominating the Vegas real estate scene as buyers are finding themselves paying a premium for whatever they can get their hands on.

East Las Vegas reported the sales of 515 new homes in 2018, which represents a whopping increase of near 90 percent from the prior year. This, according to experts, is the fastest level of growth anywhere in the Las Vegas Valley by a wide margin. While this number is relatively small when compared to other areas of the valley – 2018 saw 3,741 homes closed upon in southwest Vegas – it nonetheless is a vastly higher number, percentage-wise, and the affordability of East Las Vegas will likely result in that impressive output increasing in 2019.

When you look at the numbers, it’s easy to see why buyers are attracted to the homes in the eastern valley- the median sales price of a newly-built single-family home there is currently in the mid-$200,000’s, as opposed to elsewhere in the valley where that number typically reaches as high as $380,000 or more, reports say.

One of the reasons for East Las Vegas’ new reputation is the fact that conditions in some areas were reportedly run-down; developers have been scooping up dilapidated properties recently, razing them, and constructing new homes at price points that are causing a stir among those having difficulty finding a residence in Las Vegas’ otherwise skyrocketing real estate market.

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.

Concrete Industry Playing Important Role in Las Vegas Construction and Development

LAS VEGAS – Unless you’ve been living under a rock in the Mojave Desert, you’ve likely heard that Southern Nevada is currently in the midst of a construction boom.

The Las Vegas Convention Center recently hosted the World of Concrete trade show this past February, where members of the concrete industry convened to see the impact their livelihood has had upon the city since its epic recovery from the mid-2000’s recession.

Due to the recent economic and real estate-related boom that has been re-shaping Vegas – attracting business, professional sports teams, and those seeking jobs – construction work has escalated to a large degree to keep up with demand in the Vegas area.

Among the current high-profile developments in the works – all of which are utilizing copious amounts of concrete in their construction – are Resorts World Las Vegas, Caesars Entertainment’s Linq complex, Las Vegas Raiders’ stadium (as well as the team’s team separate headquarters/practice facility), Wynn Las Vegas’ new convention facilities, MSG Sphere at The Venetian, Las Vegas Ballpark, among many more.

Considered a versatile, cost-effective, and efficient building material, concrete is a vital component in constructing a variety of projects in the region, including buildings and stadiums, as well as the infrastructure these developments require, such as bridges, roads, and highways.

The World of Concrete trade show highlighted how the substance has contributed to shaping the skyline of Las Vegas in recent years, in addition to illuminating breakthrough new developments in the field that are allowing concrete to not only act as a strong foundation for a structure, but to function as an attractive and eye-catching element of design as well. New coatings and applications are allowing concrete – once thought of as bland and utilitarian in appearance – to contribute to the beauty of a building’s overall design as well.

Another topic addressed at the trade show was the economic impact concrete has had upon the construction industry, especially in terms of jobs and employment; recent retirement of long-standing construction veterans, combined with a lack of new inductees into the field, have resulted in a shortage of new hires, and experts note that a coordinated effort is needed in order to lure students that are near graduation and looking for careers into construction. This is especially true in Southern Nevada, where job openings are plentiful in the face of the current overwhelming needs of the business and real estate sectors.

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.

Palms Mixed-Use Project in the Works; Chick-fil-A, High-End Hotel, More Underway One Mile West of Vegas Strip

LAS VEGAS – Developers have announced that planning for an extensive mixed-use project is currently in the works adjacent to the Las Vegas Palms Casino Resort – located one mile west of the Vegas Strip, at Flamingo Road and Valley View Boulevard. The location is to encompass a number of businesses and amenities once it is completed in the next year or two. The land tract where construction is taking place is currently vacant, and the project is looking to offer a large degree of revitalization to the surrounding community.

The anticipated project is comprised of an upscale hotel – non-gaming in nature – in addition to a high-end apartment building and a number of retail businesses and franchise eateries such as Chick-fil-A, reports say. The hotel, according to reports, is likely to be branded by Delta and will be comprised of 270 rooms and is slated to potentially reach as high as 24 stories; work on the structure is expected to begin in the latter quarter of 2019, whereas work on the Chick-fil-A facility is expected to begin in the second quarter.

Other stores that are lined up for space in the development include Walgreens Pharmacy and chain restaurants Del Taco, Denny’s, and Wahoo’s Fish Taco. An additional 286-unit apartment complex – to be dubbed Elysian at the Palms, developed by The Calida Group – is also in the planning stages and, with construction expected to take approximately a year-and-a-half once work has begun, reports say. The facility, once completed, is expected to include guest amenities such as a gym, tanning booths, a massage spa, a gaming room, and a bar.

Before the bust of the housing bubble in the mid-2000’s the Flamingo Road and Valley View Boulevard land tract was originally slated to be the home of at least two new hotels, both originally in to be built in a distinct “Manhattan” style with numerous luxury trappings. However, deals for construction on the site all fell through with the market crash and the subsequent recession hit the Las Vegas real estate market especially hard; a malady that Las Vegas has only recently recovered from, with record growth now recorded by experts indicating a city on the rise and in need of new and continued development for the first time in nearly a decade.

The project is being headed up by CAI Investments, which is based locally in 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.

New $95 Million Investment in Marriott Hotel Approved by Las Vegas Officials; To Support Downtown Development, Offer Jobs

LAS VEGAS – Las Vegas’ Symphony Park, a 61-acre mixed-use site currently under development in downtown Las Vegas, will be the home of a new Marriott Hotel, thanks to city officials who recently voted to approve the project. The new Marriott convention hotel brings with it a $95 million investment, which officials say will support Symphony Park’s development and create much-needed jobs in the downtown area.

Once housing a Union Pacific rail yard, Symphony Park currently is being master developed for mixed-use by the city of Las Vegas, also the landowner. Symphony Park is home to the Cleveland Clinic Lou Ruvo Center for Brain Health, Smith Center for the Performing Arts and the Discovery Children’s Museum.

Slated to be a 406-room, six story hotel with a projected opening date of summer 2020 will be constructed on the corner of Grand Central Parkway and Symphony Park Avenue – will offer a number of amenities for guests, such as an upscale restaurant, a fitness gymnasium, as well as retail stores and 20,000 square feet of spaces that can host large-scale meetings and conferences, officials say.

The six story hotel with a projected opening date of summer 2020 will be constructed on the corner of Grand Central Parkway and Symphony Park Avenue.

Officials anticipate that the project will produce approximately 150 construction jobs via developer Jackson-Shaw – a company responsible for 21 hotels to date – and once completed will employ over 275 people both directly and indirectly; in addition, the hotel is expected to generate about $1.5 million in tax revenue for the state and local municipality, according to reports. Previously, Jackson-Shaw was responsible for building local hotels the Hampton Inn Tropicana and the Renaissance Las Vegas.

The hotel, which is to be designed with inspiration taken from Spanish architecture and slated to cater to cutting-edge, modern lifestyles, will gel with the designs of neighboring structures and buildings in the Symphony Park development. City official said that they envision the mixed-use facility to become a hub for the arts, as well as a home for numerous professionals and businesses, including those in the science and medical fields.

In addition to the Marriot, other structures under development in Symphony Park include two parking garages that will incorporate up to 30,000 square feet of space for retail establishments, as well as residential apartments that will feature up to 600 single-family units once completed.
All in all, officials are expecting Symphony Park to play a large part in the re-invigoration of the Las Vegas downtown area within just a few years.

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.