Category Archive : Development

LAS VEGAS, NV – In southwest Las Vegas, newly-announced construction projects are set to revitalize the region after seeing it in a state of decline for a number of years. Set along the 215 Beltway, a number of new developments are springing up, and locals are reportedly glad to see the positive impact it’s set to have on the area.

For example, in the vicinity of S. Durango Drive and W. Sunset Road there’s a new major shopping center in the works called The Bend, which is slated to host a number of new businesses, including dine-in movie theaters, retail establishments, and several different types of restaurants. The shopping center will come in at 170,000 square feet, will feature 725 parking spaces, and will be the largest development for dining and entertainment in the area.

According to The Bend’s website, ten tenants have been signed to date, with more on the way. The website notes that The Bend “will be the largest dining, entertainment and shopping destination in the Southwest area of the valley.” Since it was announced, The Bend has signed the first new Galaxy Theater Luxury in Southern Nevada, in addition to many dining establishments, including Lotus of Siam, Freed’s Dessert Shop, The Great Greek, Aces & Ales Brewery and more.

Currently there is no projected completion date for the construction of the Bend provided by the company that is working on it, but work seems to be progressing smoothly according to reports. In addition, there are several industrial projects in the works in the southwest valley, with a number of businesses of varying types set to make their presence felt in the coming months.

Residents that were interviewed have expressed support for the work going on in the area, with many saying that it would contribute to boosting the local economy, which was hit especially hard in the region during the recession; in turn, these improvements would likely attract other businesses and homeowners and help to raise home value, sparking further investment and improving life for the community overall.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – The Vegas Strip is set to welcome back a seasoned player in the hotel game, and one of the most iconic brands in the business. According to recent reports, McLean-based Hilton is slated to open a massive mega-resort – comprised of three hotels – that will potentially add up to one of the biggest multi-brand deals in the company’s existence.

The original Las Vegas Hilton, an enormous resort, opened in 1971 and was located just one block from the Strip at 3000 S Paradise Road until the company’s property management services ended in 2012. However, now the brand is set to return to the Strip in a big way, with a $4.3 billion investment in a sprawling new hotel complex – opening in partnership with Resorts World Las Vegas – that is anticipated to open its doors for business in the summer of 2021.

The hotels, which will be operated under Hilton Hotels & Resorts, LXR and Conrad brands, will offer up a number of amenities for guests, spread out amongst a grand total of 3,500 rooms between the three hotels, and spread out over 88 acres of land. The complex will also feature 350,000 square feet of meeting and convention space, a 5,000-seat theater, and a 220,000 square foot pool complex with seven pools, a spa and fitness center.

The original Las Vegas Hilton – from 1981 to 1990, considered the largest hotel on the planet at 2,956 rooms on 65 acres – was lauded for its posh nature and the large number of celebrities that resided there; of special note was famous rock-and-roller Elvis Presley, who famously owned a penthouse on the hotel’s 30^th floor. The original Las Vegas Hilton is now branded as the Westgate Las Vegas Resort and Casino, owned by Westgate Resorts and operated by Paragon Gaming.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – Ascot Group, a New York-based developer, has submitted plans with the city of Henderson for a potential apartment complex to be constructed at the base of a local mountain, according to recent reports.

The proposed apartment complex, which would be comprised of 132 units spread out over three buildings and featuring a separate clubhouse, would be situated behind a neighborhood near the Paseo Verde and Horizon Ridge parkways.

The proposal was submitted in the form of a letter to Henderson by Cray Flynn of the Ascot Group, which included plans drawn up by Wood Rodgers, an engineering firm based in Nevada. City officials will review the plans and respond to Ascot with any concerns, changes, or feedback that they deem needed.

According to the correspondence sent to Henderson officials, a Wood Rodgers representative notes that “The proposed layout of the buildings is designed to complement the overall character of the area while preserving access to the adjacent open space and the Amargosa Trail.”

The project would call for three 45-foot tall buildings, comprised of two building types, according to the letter submitted to Henderson officials. Underground parking would also be available to residents of the apartments, although Ascot states in their letter that they would need to extend two streets through tunnels in order to create access, while encroaching as little as possible upon the surrounding landscape. According to the letter, “the development goals are to maintain and enhance the natural setting of the mountainside.”

It should be noted that this is merely a proposal; Ascot has not officially submitted any official documents or applications to begin actual construction on the apartment complex.

The areas that Ascot is proposing for the potential construction is currently a low-density residential zone; if the project were officially pursued, Ascot would have to successfully petition Henderson to re-zone the area to a medium-density residential district in order to allow it to proceed, as a low-density district would not allow for an apartment complex.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – Elon Musk’s The Boring Company has announced that a milestone has been achieved on a massive tunnel project in Las Vegas on behalf of the city’s convention center.

The Boring Company – an infrastructure and tunnel construction company owned by Musk, a technology entrepreneur, investor, engineer, and co-founder of Tesla, Inc. – has been pegged for a project involving the construction and operation of an underground “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.

After three months of work, the Las Vegas Convention and Visitors Authority (LVCVA) officials announced this week that excavation has been finished on the first of two tunnels – nearly a mile in length and 40 feet underground – that will comprise the people mover, dubbed the Convention Center Loop. The Boring Company will now begin excavation on the second tunnel.

Upon completion of the $52.5 million project, each tunnel will be one-way and will whisk up to 4,400 attendees per hour from the Convention Center’s South Hall across the 200-acre campus in all-electric Tesla vehicles, free of charge. The tunnels will connect the South Hall with the campus’ new West Hall, which was built when the Convention Center recently underwent an extensive expansion and renovation valued at $1.52 billion.

The tunneling was achieved by way of a massive machine that will now be taken apart, transported back to the South Hall, and reassembled, at which time it will start the tunneling process anew, this time on the second tunnel.

The project is designed with the potential to be expanded as needed in the future, and could aid in easing congestion throughout the Las Vegas resort corridor if needed, officials say.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – According to reports, the former Lucky Dragon has been given a new lease on life, as new ownership has re-branded and re-opened the facility with plans to give the hotel and casino a huge make-over.

The newly christened Ahern Hotel – named after owner and developer Don Ahern – will eschew the Lucky Dragon’s previous Chinese-themed design aesthetic – most of the decorations, including statues and a dragon chandelier, have been removed from the premises and are currently in storage awaiting sale – in favor of a more conventional look and feel, although the building still features its previous red exterior, but with all-new signs reflecting the name change.

Originally opening in 2008 with 203 rooms and a 27,500 square-foot casino – considered small compared to their local competitors – the former Lucky Dragon was inspired by Asian concepts in an effort to appeal to Asian customers, who were expected to be the resort’s primary customer base.

However, the establishment experienced low customer turnout over the years that it was open and as a result, the Lucky Dragon permanently closed for business on October 2, 2018. It was eventually sold for $36 million in April 2019 to Don Ahern, and reopened as the Ahern Hotel and Convention Center in late 2019.

Currently, the casino is not being re-opened; instead, Ahern noted that he intends to transform the casino into conference and convention space, with work expected to begin in March 2020; currently, the new facility is slated to have a separate name, although that moniker has not yet been publicly revealed.

Ahern estimated that he will be spending less than $10 million on the changes to the former casino space – including new eateries such as an Italian and a sushi restaurant – and hopes the entire resort would be ready in time for a grand opening on July 4, 2020.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – According to reports, developer Jonathan Fore is set to build a new luxury apartment complex in Las Vegas after having the project recently received the approval it needs to go forward from Clark County commissioners.

Fore is also responsible for the construction of Lotus, an apartment complex located on Spring Mountain Road, adjacent to Valley View Boulevard several years ago. The developer noted that the proposed new complex – dubbed The Pearl – will be a 170-unit building spread out over seven floods, and will be situated nearby the Lotus on the opposite side of Valley View Boulevard.

The first three floors of the building would be comprised of a private parking garage and over 11,000 square feet of retail space at the ground floor, according to documents filed with Clark County. The complex would be on a 2-acre plot of land, and apartments would range from 690 to 1,382 square feet, with rents in the neighborhood of $1,550 to $2,500 per month.

Las Vegas has seen a large number of apartment complexes built there in recent years as the economy has bred rapid job growth and a subsequent influx of new residents from other states looking to take advantage of that fact, as well as Vegas’ overall lower cost of living when compared to many other regions of the United States. Apartment construction in Vegas has been mostly in the suburbs, due to the relative ease and affordability of doing so when compared to other areas of Southern Nevada.

Fore announced that he hopes to hold the groundbreaking for The Pearl in August of this year, and is eyeing a construction completion date of summer 2022. Fore also noted that adding a new apartment complex in Chinatown would be a boon to both prospective future tenants and local businesses, as there are many retail, dining, and entertainment options nearby.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – Minnesota-based Life Time, which runs a chain of luxury health and gym facilities, acquired Las Vegas’ Sullivan Square site in November 2019; according to reports there are potential plans in the works to transform the abandoned property into apartments, offices, and a gym.

Sullivan Square was originally purchased in the mid-2000’s with plans to transform it into a site for a Manhattan-style series of skyscrapers, but due to numerous factors – up to and including the recession – the plans never materialized, and the plot of land has sat in a state of disuse ever since, giving mute testament to the real estate crash that held Las Vegas in its grip for nearly a decade before only recently recovering in spectacular fashion.

Life Time has not officially announced plans for the Sullivan Square property, located across from Ikea at the southeast corner of Durango Drive and Sunset Road, however, reports indicate that Life Time plans to install one of their trademark luxury health and gym facilities at the location, in addition to a possible high-end apartment complex and office space for businesses. Retail options were not mentioned in the report, but should probably not be ruled out until concrete plans are revealed.

Originally, in the mid-2000’s, Sullivan Square was intended to be comprised of mixed-use space that would encompass apartments boasting nearly 1,400 residential units; 45,000 square feet of retail space; and 272,000 square feet of office space. However, the recession, combined with a series of lawsuits, resulted in the project never getting off the ground.

New construction of residential high-rise buildings are rare in the Las Vegas region in recent years, due in part to how expensive it is to both build and maintain such a facility. But the developers in this case must see the positive economic growth in Southern Nevada recently as a sign that high-rises may once again present the potential for profit in the years to come.

Photo via Loopnet & The Hoffman Company: Sunset & Durango; Las Vegas, NV 89113 · 14.89 AC · Land For Sale http://www.hoffmanland.com

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – The construction status of The Expo at World Market Center Las Vegas, large-scale exhibition facility, recently received an update, courtesy of International Market Centers (IMC). According to a report released by the IMC, the project is currently on-schedule and on-budget, having just entered into the next phase of its development.

The Expo is a new addition to IMC’s downtown Las Vegas campus, and is expected to add an additional 315,000 square feet of space to the facility when it opens in July of 2020.

The Expo at World Market Center Las Vegas, upon completion, will feature exhibition space in the amount of 194,785 square feet, spread out among two separate halls. Hall number one will boast 97,684 square feet of space, and hall number two 97,101 square feet; together, the two halls can house a combined total of at least 1,000 booths. The facility will also have a lobby, a space for event registration, a dedicated shuttle bus area, parking garage, and basic dining facilities.

IMC CEO Bob Maricich noted in a statement that the project is currently running according to plan, and is on-course to meet its July 2020 opening date.

“Construction is on schedule and on budget. We’re delighted to cooperate with the city of Las Vegas to bring this new exhibition venue to Las Vegas, he said. ““All external steel work is scheduled to be completed by January 2020. Other than some construction-related shifts to registration locations and transportation options, it will be ‘business as usual’ for winter 2020 marketgoers.”

The Expo at World Market Center Las Vegas is coming in at a cost as high as $100 million, and the general contractor, Penta Building Group, initially held their groundbreaking in July of 2019. Currently, seven of the project’s ten steel sequences have been finished, and as of this month construction has gone vertical.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – Malaysia-based developer Genting Group has recently announced a several-month delay of the opening of their mega-resort, the Resorts World Las Vegas Casino, but noted that the resulting addition of several amenities – as well as a higher price tag to the already-impressive complex – are sure to make the delay more than worth it.

Resorts World – originally budgeted at $4 billion and recently revised to $4.3 billion – is situated on 87 acres on the Las Vegas strip at the former site of the Stardust Casino. Work on the casino began in 2017 with a projected late 2020 completion date, but progress was initially slow – blamed on construction difficulties and negative fluctuations in Malaysian currency – leading some experts to express that the 2020 opening was not in the cards.

Indeed, that opening estimate has been revised; the resort is now slated to open in the summer of 2021, as opposed to late 2020, and with that delay will come several changes that the developer says are for the better.

One of the major changes to the project will be the overall visual and aesthetic theme; previously Resorts World was expected to feature traditional Chinese architecture, with a red and white color scheme and a giant Chinese lantern hanging from the top of a tower; this has been changed to appeal to a wider range of guest tastes. Instead, Resorts World will feature a “luxury experience” with some Asian-themed design aesthetics.

When completed, Resorts World will feature over 3,500 rooms and suites divided between two towers with a 100,000 square foot gaming floor, numerous restaurants, a 5,000-seat amphitheater, a 75,000-square-foot nightclub, a 220,000 square-foot pool area – including a 1,800-square-foot infinity pool overlooking the Las Vegas Strip – state-of-the-art video screens, meeting and banquet space, a spa, entertainment zone, an extensive casino, and more.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – According to reports, The Boring Co. – the tunneling company owned by Elon Musk – officially began construction on Nov. 15 on a tunnel that will house an elaborate “people mover” train system at the Las Vegas Convention Center.

A people mover is a type of small scale automated guide-way transit system. While many people movers transport passengers from airports, downtown districts or theme parks to other destinations, the one that the Boring Co. is developing for the Convention Center – a dual-tunnel people mover – would be more limited in scope, solely dedicated to servicing event attendees only.

The people mover is being constructed in partnership with the Las Vegas Convention and Visitors Authority (LVCVA) and is slated to be completed in January 2021, which would coincide with the Consumer Electronics Show, held annually at the Convention Center. The Boring Co. won a $52.5 million contract bid for the project in May, which is the company’s first major underground tunneling project.

In addition to the tunnel, additional work located above-ground – including stations and stops – began in October.

Previous work at the site of the people-mover has consisted of delivering and assembling parts that make it ready in time for the project’s start date. As the Boring Co. will be doing exactly what their name implies – boring into the earth – the timeline of the project may experience adjustments on the fly based on what types of potential deposits and/or obstructions they encounter as they make their way through their designated boring path.

The Las Vegas Convention Center 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 for the estimated million people who visit the site on an annual basis, once work is completed of course.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – According to reports, construction on a new upscale apartment complex is currently underway adjacent to the Wyndham Desert Blue timeshare tower located west of the famed Las Vegas Strip.

The project, currently without an official name and headed up by developer Fore Property Co., is taking the form of building 287 luxury apartments, with the first grouping of units being made available for rent by December 2020; the project as a whole is expected to be completed in April 2021, reports say.

The project – the first apartment complex being constructed in close proximity to the La Vegas Strip in 25 years – is slated to offer a number of posh amenities for tenants, including a dog park, sky lounge, and a yoga studio, among others. The facility closeness to the Strip will offer tenants easy access to local attractions, entertainment, and employment, which will most likely make the complex very attractive to prospective tenants.

However, such accommodations may put a dent in your wallet; according to Fore Property Co., rents are expected to range from $1,400 to approximately $3,000 per month. However, similarly-priced units at other apartment complexes built in the Las Vegas region by Fore have been snapped up by tenants in the past, illustrating the desire for high-class accommodations by select members of the public.

In recent years, in order to meet demand for housing options in light of the rapidly-expanding population of Las Vegas due to the economic upturn – developers have been constructing apartment complexes in areas previously having few. Examples include Fremont9 in Vegas’ downtown and the currently in development shareDOWNTOWN in the Arts District. In addition, Fore has noted their interest in another potential apartment complex in Chinatown.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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, NV – According to recent reports, officials representing Bleutech Park, a $7.5 billion mini-city project that has been proposed for Las Vegas, has acquired a 210-acre plot of land at Las Vegas Boulevard and Cactus Avenue that the group originally hoped to break ground upon come December 2019, although that date has been pushed back.

As per the original July 2019 release announcing the project, Bleutech Park representatives noted that the project would usher in an unprecedented renaissance of the global digital infrastructure industry into Southern Nevada.

“The net-zero buildings within their own insular mini-city will feature automated multi-functional designs, renewable energies from solar / wind / water / kinetic, autonomous vehicles, artificial intelligence (AI), augmented reality, Internet of Things (IoT), robotics, super-trees, and self-healing concrete structures,” the release says. “Our goal is to provide creative, attractive and functional workforce housing that will meet the needs of the Las Vegas community as a whole, by providing a harmonious ecosystem, thereby improving the health of our community.”

The property was purchased by Bleutech Park representatives for more than $1.5 million per acre from Las Vegas real estate developer Larry Canarelli.

However, some are expressing skepticism regarding the validity of the Bleutech project; for instance, despite the proposed December 2019 groundbreaking date, Clark County has confirmed that no paperwork has been filed with either the county’s planning or zoning departments (as of November 6) – a process which must take place before a project can move forward in any real, physical manner. A Bleutech Park spokesperson has stated that they are working to submit the necessary applications to Clark County in December.

Also, some have expressed doubt that Bleutech Park would be able to deliver on some of the impressive technological marvels that they have boasted of in their original release. That said, the deal for the Las Vegas Boulevard property purchase is expected to close in January 2020 which will push back the original projected December 2019 groundbreaking date.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las 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.