The Vegas Train is Leaving (and Why you Need to be on it)
published on 2014-05-31 by Shari Sanderson
The economy crashed in Las Vegas in 2008 and Las Vegas became the poster child for foreclosures nationally. With thousands of foreclosures all over the city, recovery looked grim and we didn’t think we could beat the odds. But in Vegas, the house always wins…always. And while the economy has been recovering, thousands of second homeowners and investors have been coming into Vegas for the past five years relentlessly picking up inventory at a record pace. The Las Vegas Strip has also been quietly undergoing a massive renovation along with it, making this area even more exciting for visitors and residents.
The new SLS Las Vegas (a $415 Million Beverly Hills style hotel & casino) is projected to open in the fall of 2014. SLS Las Vegas will have shops such as Fred Segal and restaurants such as Katsuya by Starck and chef Danny Elmalehs Mediterranean cuisine. It will include 30,000sf of meeting/convention space and 1,600 new suites. There are several Las Vegas high rises that will benefit from this new development, including Turnberry Towers, and Turnberry Place.
The Linq and the Quad across from the Meridian Residences is a massive $550 million shopping, dining and entertainment district that has been quietly under construction for over a year. A Meridian condo can be picked up for about $125k to $225k and since the strip is getting wider, residents of the 16 acre condominium resort will soon find they have walking distance access not only to a the world’s largest observation wheel, but to the newly revealed plans on the $50 million Grand Bazaar Shops at Bailys also across the street. This two acre shopping extravaganza will have over 100 shopping and dining outlets.
On the northeast corner of Las Vegas Blvd and Flamingo, Caesars Entertainment is quietly in the midst of a $185 million renovation of the Bills Gambling Hall, featuring the Food Network television celebrity chef Giada De Laurentiis. Nightclub aficionado Victor Drai is creating an indoor/outdoor nightclub and nightlife scene with a 65,000 sf rooftop pool. Victor Drai is known as the Godfather of the Las Vegas after hours scene.
The Delano Las Vegas is projected for a fall opening. New York New York and Monte Carlo have been remodeling the front facades, adding new restaurants and the anticipated two story Hershey’s Chocolate World. MGM Resorts International is building a 20,000 seat arena in conjunction with AEG.
But wait, there's more. Treasure Island is building a shopping complex spanning three stories just under 50,000 sf. Robert De Niro just partnered opening Nobu Hotel Caesars Palace. The Genting Group purchased the Bally Gaming stalled development and they are set to build a billion dollar Malaysian themed resort and casino. South Point is adding two new climate controlled arena venues of 100,000 sf to the existing arena and Equestrian Center. And Downtown is on fire with billionaire Tony Hsieh allocating $350 million to build up the area!.
There is so much building going on all over Las Vegas, it's mind boggling. We keep tabs on all the future development so if you need an expert to help you determine which of our strip properties is right for you, you've come to the right place. If you are considering buying this year, contact us as soon as possible, because the window to get a stellar deal is closing. Over 100 condos sold in CityCenter alone last year. Last Call Las Vegas!
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Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.
Last Updated: 2021-08-03