LAS VEGAS, NV – A California-based developer is planning to construct a $380 million mixed-use sports, entertainment, and retail facility in Las Vegas, with Agora Realty & Management having recently closed on financing and land purchases at the former site of two Las Vegas casinos in order to bring the project to life.
Plans for the upcoming facility including housing, retail, and the a professional-grade public ice rink, which will be managed by the NHL‘s Golden Knights, who play at the Las Vegas Strip’s T-Mobile Arena and won this year’s Stanley Cup championship.
The 73-acre project is slated to be called Hylo Park and will be located in North Las Vegas at the intersection of Rancho Road and Lake Mead Boulevard. It will be made up of 1300 residential units, a retail center anchored by a supermarket, and many sports and entertainment aspects that will be added in a number of construction phases.
The main attraction of the project – and the aspect the rest of the facility will be built around – is Champion Square, which will be a sports village and public plaza that will include the public ice rink, as well as practice facilities that can be utilized by youth and amateur hockey and skating leagues.
The idea behind the project is to capitalize on Las Vegas’ rising profile as a sports destination following the recent influx of transplanted major sports teams and events to the region, including NHL, NFL, MLB, and Formula One racing.
Agora Realty CEO Cary Lefton said in a statement that the extensive sporting attractions at Champion Square would appeal to both the local Las Vegas community as well as traveling sports teams, and stands to be a “lucrative traffic generator” for surrounding restaurants and businesses.
From our longstanding work with North Las Vegas we knew that the city needed more housing and community services for its growing population,” he said. “We also recognized an opportunity to leverage the draw of Las Vegas’ fast-growing sports industry.”
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 Las Vegas estate of National Hockey League (NHL) star Max Pacioretty, a left winger for the Carolina Hurricanes, has sold for an impressive $11 million.
The sale represented two significant milestones for the Southern Nevada region; it is the highest price ever paid for a home in The Ridges – a luxury master-planned community in Summerlin, where Pacioretty’s home was located – as well as the highest price paid for a home anywhere in the greater Las Vegas area so far this year.
Initially starting his career with the Montreal Canadiens, Pacioretty, 34, was traded to the Vegas Golden Knights before the 2018–19 NHL season; although the move reportedly revitalized his career, he was traded to the Hurricanes in July 2022 due to salary cap complications with the Golden Knights, thus necessitating the sale of his Vegas home.
The NHL winger no longer needs a place in Nevada, so the sale of his six-bedroom mansion makes perfect sense. Here’s more about the record-setting property. https://t.co/XMlWqR8Qiw
— Edgar Armstrong, REALTOR® (@EdgarArmstrong) June 1, 2023
The NHL player’s now-former home in The Ridges is indeed an impressive estate, consisting of a single-story mansion with 10,000 square-feet of living space, situated upon a half-acre plot of land.
The home offers a plethora of opulent amenities, including a Calacatta marble fireplace, wine cellar, personal gym, sauna, screening room, 55-foot pool, fire pit, sport court, an outdoor kitchen, and a built-in hockey practice surface.
The kitchen boasts double islands and a walk-in pantry, and the primary bedroom suite comes with sliding glass doors that allow access to the yard and pool. The bathroom features a soaking tub as well as double showers.
Over the course of his career, Pacioretty has scored 326 goals and accumulated 318 assists; however, Pacioretty is currently sitting out due to an injury he sustained to his Achilles tendon in January.
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.
SUMMERLIN, NV – Bill Foley, owner of National Hockey League (NHL) ice hockey team Vegas Golden Knights, has recently listed his Summerlin Nevada home on the market for $8.75 million, down from his original asking price of $9.5 million.
The home – called “Azure” – is located at 19 Flying Cloud in an exclusive gated section of Summerlin called “The Ridges”, and is situated on a plot of land coming in at just under one acre. The residence is 12,445 square feet in size and was built in 2013 by its original owners before it was sold to Foley and his wife, Carol, in 2015. According to Clark County records, the sale price in 2015 was $8.05 million.
Vegas Golden Knights owner Bill Foley in 2017 while discussing how his team decided to honor first responders and victims of the mass shooting in Las Vegas and how proud he is of the team’s efforts on and off the ice. Photo credit: Las Vegas Review-Journal / Screenshot from YouTube.
The home is being sold, according to Foley, because they had a new house constructed in Summerlin’s Summit Club area.
Azure is being referred to as a luxury dwelling with large, open spaces that can accommodate both indoor and outdoor lifestyles, with an emphasis on a wide variety of entertainment options. The house also features an extensive backyard with a pavilion that provides shade, fire pits, a spa, a pool, a putting green, and a picturesque view of nearby mountains.
The interior boasts five master bedrooms, a media room, and a home office with a wraparound terrace on the second level. The upstairs features a theater room with reclining chairs and couch, as well as an elevator.
The interior boasts five master bedrooms, a media room, and a home office with a wraparound terrace on the second level. The upstairs features a theater room with reclining chairs and couch, as well as an elevator. 19 FLYING CLOUD Lane Las Vegas, NV 89135 – $8,750,000 MLS# 2039574.
The Vegas Golden Knights are in the Las Vegas metropolitan area and began playing in the 2017–18 NHL season. They are members of the Pacific Division of the league’s Western Conference, and are owned by Black Knight Sports & Entertainment, a consortium led by Foley and the Maloof family. The team plays its home games at T-Mobile Arena on the Las Vegas Strip in Paradise, Nevada.
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 – A project previously approved by Clark County that would have seen an NBA-ready arena erected in Las Vegas to entice an existing basketball franchise – or a newly created expansion team – to move to Nevada has been quietly cancelled.
While experts have noted that a new arena was not required to lure an NBA team to Southern Nevada – T-Mobile arena could potentially be shared with the NHL’s Golden Knights – having a facility dedicated to professional basketball competition would make Las Vegas a very attractive candidate for such a thing.
Clark County commissioners had approved plans for a basketball arena – dubbed All Net Arena – to be erected on a plot of land located on the North Las Vegas Strip, situated between the Fontainebleau and the Sahara resorts. However, after the groundbreaking ceremony was held 10 years ago, the project has sat in limbo with no construction being carried out at the site, due in-part to the lack of the $5 billion in funding previously promised by the developer.
In the ensuing years, officials have extended the permits for the project several times, but to no avail. Finally, after a decade of delays, Clark County Commissioner Tick Segerblom announced this week that the project’s construction permits have been pulled by unanimous vote of 7-0, quietly killing it off for good.
Time and time again, we’ve asked, ‘Just one more year, or two years, let’s get this done, we’ll get it done,’” he said. “We’ve followed the money everywhere around the world. And truthfully, it just hasn’t happened. So, I’m just prepared to make a motion to deny it at this point. It breaks my heart to do it.”
All Net Arena Had been slated to be a 22,000-seat arena with a retractable roof, convention center, movie theater, and grocery store.
While the league currently has no plans to create an expansion team, NBA Commissioner Adam Silver has heavily hinted that Las Vegas would very much be in the running if those plans were to change.
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 legendary Oscar De La Hoya, former professional boxing champion and current boxing promoter, has purchased a home that is currently in the process of being constructed in the luxury MacDonald Highlands community in Las Vegas’ Henderson neighborhood for an eye-opening $14.6 million.
De La Hoya, known in his boxing days as “The Golden Boy,” is now in possession of the highest-priced purchase in Las Vegas for the month of May, along with NHL Vegas Golden Knight player Alex Tuch, who was traded to the Buffalo Sabres and subsequently sold his Summerlin home for a pricey sum.
The MacDonald Highlands home purchased by De La Hoya is situated upon one acre and packs 10,460 square feet into a one-story dwelling. The home, located at 1990 South Bundy Drive, was purchased from luxury builder Blue Heron, boasts five bedrooms and an eight-car garage.
The design of De La Hoya’s new home is said to be “classic with a modern twist,” and possesses a high-end look and feel that has become the trademark of Blue Heron, according to listing agent Kristen Routh-Silberman.
“It represents another masterpiece and milestone for Blue Heron and Tyler Jones,” Routh-Silberman said. “It’s sensational and will be a showstopper once it’s complete. Blue Heron is constantly evolving and [with this home] here they are taking modern and mixing it with timeless. It’s a new look for them. It’s very refined for modern architecture. It should be a showpiece in Architectural Digest when it’s finished.”
The home features numerous amenities, including an entrance with water features and a porte-cochere – a covered entrance large enough for vehicles to pass through – in addition to panoramic views of the famed Las Vegas Strip and nearby mountain ranges.
In addition, the master bedroom is located in its own dedicated wing of the house, which also has a digital den and media room, an office, a wet bar, outdoor dining, a wine room, a lap pool, spa, fire lounges, and play areas.
Construction on the home will be completed by next spring, according to the developer.
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 Las Vegas luxury home market is being described as “on fire” by experts, with home sales continuing to set records despite the ongoing COVID-19 pandemic. For example, Noel Lee, 71, the CEO of Monster Inc., recently sold his Henderson home – measuring 11,375 square feet with six bedrooms and nine bathrooms – for $7 million, the third-highest price paid for a residence in the Las Vegas valley in 2020 so far. Lee’s two-story home features two master suites, an office, game room, fitness room, wine cellar, theater, an infinity-edge pool, and a five-car garage.
The other two highest 2020 luxury home sales in Las Vegas were a MacDonald Highlands mansion owned by Paragon Gaming co-founder Diana Bennett for a whopping $11.25 million, and a Summerlin mansion located in The Ridges – a master-planned community – for $10.15 million.
In addition, 96 homes with a closing price of $1 million or higher were made in September alone, setting an all-time one month Las Vegas record. Previously, the record for homes at this price point (or higher) was 74 in May of 2019.
Overall, in September, 502 luxury homes and condos were sold in Las Vegas, representing a 16.4 percent increase over the same month in 2019, when 431 luxury homes and condos were sold. In contrast, the number of single-family homes – in all price ranges – in Southern Nevada are down 5.6 percent from 2019.
Industry experts are noting that the sales of existing luxury homes are bolstering the Las Vegas real estate market as a whole, according to reports; there are currently 160 sales pending in September of luxury homes in Las Vegas with an additional seven months of inventory to spare, further showing that the Sothern Nevada luxury sales market is showing no signs of slowing down anytime soon.
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.
The famous welcome to Las Vegas sign at the beginning off the strip when entering the main entertainment section of Las Vegas. File photo: Pixabay.
Las Vegas, located in Clark County, Nevada, is a world-famous and renowned major resort city, known primarily for its gambling, shopping, fine dining, entertainment, and nightlife. Situated within the greater Mojave Desert, Las Vegas also serves as the epicenter of financial, commercial, and cultural activity for the state of Nevada, and is currently undergoing a boom as it pertains to its economy and real estate market after a period of dormancy following the mid-2000’s housing bubble burst.
Known as the Entertainment Capital of the World, Las Vegas is internationally known for the so-called Las Vegas Strip (located just outside of the city limits but still very much associated with the city itself), home to many mega casino/hotels – the region hosts more AAA Five Diamond hotels than any other city in the world – and is subsequently regarded as one of the biggest tourist attractions in the United States, if not the planet. However, in recent years, the city has attempted to evolve with changing tastes, and to that end has developed less gambling-related establishments and more tasteful, entertainment-based options to attract a younger demographic.
Originally settled in 1905, Las Vegas was officially incorporated as a municipality in 1911 and currently features one of the densest populations of any city founded within the 20th century, with current records pegging the number of residents at 603,488 within 211,689 households – accounting for approximately 117,538 families – residing in the city limits. Primary and secondary public education is provided by the Clark County School District, which is the fifth most populous school district in the nation. In addition, the College of Southern Nevada is the main higher education facility in the city, although there are a number of other colleges and universities as well.
Las Vegas is situated within a basin on the floor of the Mojave Desert and is surrounded by mountain ranges on all sides. File photo: Pixabay.
Las Vegas is situated within a basin on the floor of the Mojave Desert and is surrounded by mountain ranges on all sides. The summer months are very hot, but with low humidity; the average daytime high during July is 104.2 degrees. In contrast, winters are generally very mild, with average temperatures in the mid-50’s.
Notable resorts and casinos in Las Vegas include the Golden Gate Hotel & Casino, the oldest continuously operating hotel and casino in Las Vegas; California Hotel & Casino; Four Queens Hotel & Casino; Las Vegas Club (closed August 20, 2015), and Mermaid’s Casino (closed June 27, 2016). In addition, the city features an extensive art district and is home to several museums, including the Neon Museum, The Mob Museum, the Las Vegas Natural History Museum, the DISCOVERY Children’s Museum, the Nevada State Museum, and more. 68 parks are available for the use of local residents, as well as numerous playgrounds, softball fields, football fields, soccer fields, dog parks, community centers, senior centers, skates parks, swimming pools, while four major golf courses, all located on city land, are available and privately operated.
Notable resorts and casinos in Las Vegas include the Golden Gate Hotel & Casino, California Hotel & Casino, Four Queens; Las Vegas Club and Mermaid’s. File photo: Pixabay.
In addition, Las Vegas is currently home to two major league professional sports teams; the Vegas Golden Knights of the National Hockey League, and as of 2020, the newly-transplanted National Football League team, the popular Oakland – soon to be Las Vegas – Raiders will be taking up residence in their newly-constructed, $2 billion home stadium.
Las Vegas has become the city with some of the fastest-rising home values in the entire country. File photo: Pixabay.
Las Vegas has also become well-known for its rapidly developing real estate market, ushered in within recent years due to a rising economy that has created new jobs and attracted new companies and investors into the region. Las Vegas has become the city with some of the fastest-rising home values in the entire country, with the value of the average single-family home expected to reach $247,331 in September 2018, an increase of 5.9 percent from the same time period one year ago; to illustrate how significant a jump this is for the Las Vegas area, home prices nationwide overall are only expected to jump approximately 3.1 percent in 2018. Meanwhile, due to demand, the price of single-family homes have jumped a whopping 13.4 percent since September 2016 until January 2018; homes sold in the month of October 2017 came in at an average price of $263,000, and this is with the available inventory becoming more and more scarce as out-of-state residents move to the city, primarily for job-related reasons.
If you are considering relocating in or around the Las Vegas area, our company would be delighted to help you find your way or pick the best place to settle in or find your dream home. Please give us acall at 702.376.7379 so we can answer any questions you may have.
LAS VEGAS, NV – As yet another example of how the rapidly-recovering Las Vegas economy and business climate is attracting numerous out-of-state investors looking to get in on the ground floor of an amazing money-making opportunity, the $78.3 million acquisition of Class A office campus Centra Point was recently announced by a joint venture between PCCP LLC and The Brookhollow Group, two California-based investment organizations .
Centra Point is a nine-building, 383,700-square-foot multi-use office complex at 8311-8395 W. Sunset Road and 6655 S. Cimarron Road, located in the southwest area of the Las Vegas valley; this region is considered by many the most rapidly growing in terms of office-related space, with many such structures – along with apartment complexes and retail stores – popping up in greater numbers than in other areas of Southern Nevada. In contrast, office space in other areas of Vegas has been considered by experts as one of the more sluggish aspects of its overall recovery.
Centra Point’s occupancy currently stands at 70 percent, but with this impressive investment on the part of PCCP LLC and The Brookhollow Group, it’s obvious that a push will be instituted to fill the remainder of the empty spaces as quickly as possible by making the property more desirable to businesses looking for a home base via a series of renovations and upgrades to the existing structures – $3 million worth to the facilities alone, not including any upgrades that may be performed for individual tenants – to go along with its impressive 25 acres of space and significant parking availability.
The complex was originally finished construction in 2006, and is comprised of seven office buildings housing multiple tenants representing a wide array of different companies and businesses. The previous owner was Seattle-based Washington Capital Management, who recently announced the $78.3 million sale in late October after PCCP LLC and The Brookhollow Group closed on the property on September 27. Current business tenants in Centra Point include Ticor Title, Tropicana Entertainment, Valley Health Systems and Dickinson Wright, among others.
Representatives for Brookhollow Group have been quoted as saying that Centra Point, located between the Summerlin and Green Valley communities, is in a “great location” and is expected to take advantage of the slowly-but-surely growing Vegas office space market, especially with the extra attention the region has been receiving in recent months after the announcement of the arrival of professional NFL and NHL teams – including the transplanted NFL Raiders football team, expected to kickoff in their new Las Vegas home stadium in 2020 – which has greatly increased investor interest in the Southern Nevada market.
It is news like this that cements the area as one to watch for business professionals looking to set up a new headquarters or a savvy real estate investor looking to get a great long-term return on their money. Combined with the skyrocketing home and rental real estate market in Las Vegas, new and continued growth and prosperity is likely for those inclined to put their money and hard work into the Nevada marketplace.
Need real estate information on the fast-evolving Las Vegas market? Thinking of relocating here? Maybe investing? Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.
It should be no surprise to hear that Las Vegas is an excellent housing market to invest in. Investors are receiving top-dollar rents after minimal days on the market. Nevada boasts over 3 million people and continues to have one of the strongest growth rates in the country. Clark County is home to nearly 75% of Nevada’s 3+ million residents with almost half of those households choosing to rent.
The unique job opportunities, sunny weather, and abundant activities for all ages make the Las Vegas area an attractive place for many individuals and families to call home. Las Vegas is one of the top travel destinations. Being the Entertainment Capital of the World creates a lot of unique job opportunities. A large amount of families and individuals have flocked (and continue to flock) to the Las Vegas area seeking work. As they move to a new city, one of the first things they need is a place to call home – usually a rental home. Rental homes are in high demand in the Las Vegas area, resulting in increased monthly rent amounts that continue to edge-up. Until recently, the Las Vegas area lacked in one area, professional sports. But now, it is home to the NHL’s Vegas Golden Knights, the AHL’s Henderson Silver Knights, the NFL’s Las Vegas Raiders, the WNBA’s Las Vegas Aces, the MiLB’s Las Vegas Aviators, and the USLC’s Las Vegas Lights FC. The continued growth of professional and semi-professional sports is another factor to thank for the influx of new residents.
Investing in real estate markets is not created equal. One advantage of investing in the Las Vegas market is the lower-than-average property taxes. A lot of hot real estate markets are located in areas with high property taxes. Nevada boasts one of the lowest property tax rates in the country, helping keep your monthly costs down. Additionally, on average, homes in Nevada are much newer than other states.
Typically, newer homes require less maintenance overall. Lower property taxes and less maintenance are just two advantages of purchasing an investment property in the Las Vegas area. Lower costs equate to a better return on investment.
Entrusting your investment property to a reputable property management company is one of the first steps in maximizing your return on investment. Shelter Realty is a full-service real estate and property management company that will assist you from start to finish. One of the most important aspects of purchasing a rental home is actually finding a home that is desirable to the majority of renters. By using Shelter Realty to assist you in the home buying process, we will assist you in finding investment properties that will maximize your cash flow. We manage a diverse portfolio of over 600 properties all over the Las Vegas valley, making us experts in knowing what areas, floor plans, and types of properties renters are looking for. Additionally, we can provide you a very good estimate of what rent amount to expect per month on any given home, how long to expect the vacancy period to be, and recommend upgrades (if any) to help maximize the rental amount you could receive. Whether you are purchasing a $100,000 investment property or a $1,000,000 investment property, Shelter Realty is here to help.
Once you have acquired the investment property, it’s time to yield the highest return. Shelter Realty provides full property management services through our property management division. Our property management department is run by well-equipped, knowledgeable employees that provide the following services:
A detailed tenant screening process to ensure we obtain the most qualified applicant for your investment home
Thorough property inspections that include very comprehensive, fully digital move-in and move-out reports with hundreds of pictures
Full service maintenance management 24/7 to ensure repairs are handled in a timely manner and completed with care
Accounting and online payment services to ensure that our tenants and landlords can login to view their accounts, pay rent, receive payments and pay bills anytime
With over 19 years experience as a full-service real estate and property management company, we have built a capable and experienced team of sales agents, residential property managers, leasing agents, licensed vendors, accountants, bookkeepers, attorneys, and more. We pride ourselves in earning the trust and respect of our clients to create clients for life! If you have any questions or are interested in additional information regarding investment properties in the Las Vegas area, feel free to give us a call at 702.376.7379 or email info@shelterrealty.com.
