Category Archive : Area Living

LAS VEGAS, NV – Businesswoman, writer, and famed television personality Martha Stewart has announced that she will be opening a restaurant at the Paris Las Vegas Hotel and Casino, which is planning to demolish part of the existing building to make room to accommodate the new eatery.

The information for the new venture was obtained via paperwork for a construction permit for the facility, which is currently named simply “Martha Stewart Restaurant,” but will most likely obtain a more colorful moniker later on. The restaurant is slated to take the place of the recently-closed Martorano’s, a South Philadelphia-inspired eatery.

Stewart will not be the only celebrity to have a restaurant at the Paris Las Vegas Hotel and Casino; instead, she will find herself in the company of Gordon Ramsay Steak – an ultramodern spot serving dishes such as beef Wellington in a “boisterous British setting” – and Brioche by Guy Savoy, a sweet and savory grab-and-go brioche shop offering delectable flaky French pastries.

In addition, this winter will see Paris Las Vegas also open the Vanderpump à Paris, a cocktail bar by British restaurateur, designer, television personality Lisa Vanderpump.

Stewart’s previous attempt at entering the restaurant field was in New York City when she opened the Martha Stewart Café in 2015, which permanently closed its doors for business in 2019.

Caesars Entertainment – the owner of Paris Las Vegas – has yet to officially announce Stewart’s restaurant, nor have any announcements been made in regards to the type of cuisine the establishment plans to serve or its anticipated opening date, but word will likely come soon as construction permits have already been applied for.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Amid skyrocketing demand and a shortage in options on the open market, finding affordable housing in Las Vegas is becoming difficult to achieve for some residents, citing steadily rising rents in the valley – which reports say are seeing some of the highest increases nationwide –  as the reason why.

Some Southern Nevada residents are reporting that the cheapest monthly rents they are encountering when looking among available inventory of two-bedroom apartments on the market is ranging from approximately $1485 in the valley’s northeast area to as high as $1700 in Henderson and $1850 in the southwest.

In addition, a report published recently indicates that rents in Henderson have ballooned by as much as 45 percent from one year ago.

Of course, contributing to the rental issue is the fact that Las Vegas is still in the grip of a housing and rental shortage that developers are struggling to address, with numerous apartment complexes and housing communities currently in the works that real estate experts are saying are expected to help stabilize rents in the region once they are completed.

But in the meantime, reports indicate that owners and investors are currently testing the waters in terms of seeing how much they can get for their rental properties in a red-hot marketplace, often increasing their asking prices in light of any amenities that their properties possess, such as it being a newer build or if it has a pool.

However, until more house and apartment rentals are available in Las Vegas – with more and more projects are being announced and started by the day – some local residents are expressing sincere concern over finding affordable places to live in the meantime.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – The mansion of Scott Gragson – a Las Vegas-based real estate broker who is currently serving time in prison in connection with a fatal drunk-driving accident – has been listed on the rental market, for the whopping price of $50,000 per month.

The mansion, located at 5 Promontory Ridge Drive in The Ridges – a wealthy master-planned community in Summerlin – is described as a “desert contemporary masterpiece,” comes in at 10,621 square-feet in size, is fully furnished, and features six bedrooms.

The residence also features a number of posh amenities for its tenant, including clear views of the famed Las Vegas Strip, a private movie room, a guest house, a gym, and a basketball court.

If security is a concern, the mansion also has a a series of two gated entrances with a guard on-duty.

Gragson, 55, had been arrested on May 30, 2019, after he had been involved in a drunk-driving crash in The Ridges that left Melissa Newton, a 36-year-old mother of three, dead. Gragson pleaded guilty in February 2020 to one count of DUI resulting in death and one count of DUI resulting in substantial bodily harm and was sentenced to eight-to-20 years in prison.

In addition to the prison term, Gragson had also reached a settlement deal to pay restitution to Newton’s family in the amount of $21 million; he would pay $12.8 million, and his insurance company would pay the remaining $8.2 million.

Additional settlements were also reached with the surviving passengers of the vehicle – Greg Tassi and Christie Cobbett – although the amounts of those have not been publicly revealed. A third passenger, Christopher Bentley, is set to begin his civil suit against Gragson this November.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – A developer has announced plans to construct an apartment complex catering to the 55-and-over community, situated right behind a Las Vegas business that considers those in that age group among its core customer base- Henderson’s Sunset Station Hotel and Casino.

Ovation Development has filed plans with Henderson city officials for the apartment complex – dubbed Radiance at Sunset – that would be constructed upon a 5.3-acre section of property that is owned by Sunset Station, located off Warm Springs Road between Marks and Stephanie streets.

Apartment construction has been picking up in Southern Nevada as the pandemic has been slowly subsiding, with developers attempting to address the very real need for affordable housing options in the region fueled by Las Vegas’ recovering economy and job market.

Radiance at Sunset would consist of 249 apartment units, and should have no problem attracting tenants, since Southern Nevada has proven to be a popular destination for individuals that have retired and are looking for an affordable location to call home – Nevada lacks state income taxes and boasts a low cost of living – that also offers nearby entertainment options such as casinos and golf courses.

Sunset Station’s ownership noted that while younger people frequent their casino, their main clientele – especially as restrictions related to the COVID-19 pandemic have eased – remain those aged 65 and older, making a neighboring apartment complex aimed at the older set ideal.

Radiance at Sunset will also be located near other local amenities that would likely prove attractive to seniors, including a 72-lane bowling alley, 13-screen movie theater, bingo, and the Galleria at Sunset shopping mall.

Representatives of Ovation Development have noted that the project is still very early in the development process, and that they are currently “working through some typical predevelopment issues” before construction can commence.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Auric Symphony Park, a new luxury apartment complex situated in downtown Las Vegas, was recently unveiled by Nashville, Tennessee-based developer Southern Land Company, providing some much-needed housing options in that part of the city.

Southern Land Company’s vice president of multifamily development west, Kevin House, said that the developer’s founder, Tim Downey, feels that Auric Symphony Park will “revitalize” the downtown Las Vegas area.

“I think we were probably taking a little bit of a leap when we bought the site,” House said. “Tim, the founder of our company, really saw the vision of the area and saw what the city saw so we were excited to buy in and become part of the area.”

House said that new businesses and entertainment establishments that have recently set up shop in the vicinity – such as The Smith Center for the Performing Arts and World Market Center – will create the need for more housing for employees and tourists, saying that “We’ll bring even more bodies and more life to the area.”

Auric Symphony Park – which took two years to complete – features one- and two-bedroom apartments – varying in size from 591 square feet to 1,452 square feet – with rents ranging from $1,495 to $3,100 per month.

The apartment complex features a plethora of lush amenities for its tenants, including two-story cabanas overlooking a large pool area, a gym that offers residents on-site fitness classes, bike storage with a workshop area, a pet spa and pet park offering free tennis balls for pets, and a resident’s lounge on the fifth floor with impressive views of the Las Vegas cityscape.

In addition, the property also boasts approximately 21,000 square feet of ground level retail and restaurant space. Auric Symphony Park began renting units in early July; currently, the 324-unit complex is about 30 percent pre-leased and 18 percent occupied.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Amid a white-hot real estate marketplace, one of the fastest-growing areas of the Las Vegas rental business is turning out to be newly built single-family houses, and a local developer is jumping into it with both feet.

With plans for two projects already drawn up for a total of approximately 450 homes, The Calida Group is planning on constructing these rentals in the Cadence community, located in Henderson. Just over 400 of the homes are slated to be free-standing, while the remaining ones will be attached to townhouses, according to city records.

Calida has plans to break ground on the projects in Cadence – a 2,200-acre community off Lake Mead Parkway east of Boulder Highway – in the third quarter of 2022, and the planned homes will represent the company’s first-ever foray into newly-built, single-family rental tracts in the Southern Nevada region, with more to come in the future, co-founder Eric Cohen noted.

“We are planning many more,” he said.

With the recovery of Las Vegas’ economy and housing market after the mid-2000’s recession, the local rental marketplace exploded, and investors snapped up as many low-cost single-family houses as they could to turn into rental units. The market stalled temporarily during the COVID-19 pandemic, but as vaccination rates steadily grow the economy has continued to bounce back, making the demand for rentals in Vegas stronger than ever.

To satiate rental demand, developers such as Calida have been erecting as many apartments as they can; however, newly built single-family homes have been growing in popularity, and several companies have been jumping on the bandwagon as of late; Cohen noted that they are “one of the biggest requests we received” from his renters.

The demand for rental homes has – along with the rest of Las Vegas’ rental market – driven up rent prices across the board; according to reports, the average rent of a Vegas-based house jumped 17 percent from May 2020 to May 2021, and only continues to grow as more people flock to Nevada for an overall cheaper lifestyle.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Low inventory and high demand of apartment units in the Las Vegas Valley are causing rents to skyrocket to near record-breaking levels, a sign of Nevada’s economic recovery as COVID-19 ebbs into its final days. However, the continuing increases in rent in Clark County has come with a downside as well; hardship for some vulnerable local area residents who may have already been having difficulty keeping up with their payments due to the pandemic.

Rents in Las Vegas, while still well below the national average – as of June 2021, the average rent in the Las Vegas Valley was $1,591, whereas the national average is $1,799 – are nonetheless currently increasing at a faster rate than any other large U.S. metro area. Out of the top 50 U.S. metro areas, the speed of Vegas’ rent increases was at the top of the list, with a jump of 3.6 percent from May to June, which equates to approximately $55. Year-over-year from February 2020 to February 2021, Las Vegas rents have surged almost 20 percent, or $260.

Some Clark County tenants are reporting that they’re seeing their monthly rent jumping by as much as $200 or $300. For some – especially many seniors who are on fixed incomes – sudden increases this large can cause financial struggle and force people to cut difficult corners to get by.

Demand is seen as the main driving force behind the rent acceleration; with the pandemic dying down, businesses are hiring again, people are getting jobs, and new college graduates are entering the workforce heading out on their own for the first time. Rents are reportedly growing quickly throughout the country, but again, currently Vegas lays claim to the fastest rates of them all.

And experts are predicting this trend will continue as the country opens up and the economy recovers, but developers in Las Vegas who are hard at work on building several new apartment complexes are expected to help stabilize rents as more units are made available to satisfy demand.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – A huge apartment building slated to open just south of the famed Las Vegas Strip by the end of 2021, is expected to add more options to the cityscape for people looking for homes to rent near the very heart of Vegas.

Ariva – a 754-unit complex situated several miles off of the west side of Las Vegas Boulevard and just north of Starr Avenue – is currently in the midst of construction efforts, and the initial phase of its development is slated to be open by the end of the year, with the remaining portion of the building expected to be completed at some point in 2023, reports say.

In addition to rental units, Ariva is also planned to encompass approximately 75,000 square-feet of space for retail establishments, restaurants, and office space; this aspect of the complex is expected to be completed before the residential units, according to the developer.

Ariva is located in a less-developed area consisting mostly of tracts of desert, in contrast to the hustle and bustle of the Las Vegas Strip; however, this part of Vegas is seeing more and more investors snapping up land and developing housing projects to accommodate the huge demands of the local real estate industry.

Owned by Silicon Valley-based WTI Inc., Ariva will feature a number of amenities for its residents, including four pools, a yoga studio, basketball and volleyball courts, dog parks, and a sky deck that will offer views of the Las Vegas valley, the developer says.

Another nearby project in the works is Mosaic, a 797-unit townhouse complex off Las Vegas Boulevard at St. Rose Parkway, which offers units in the price range of $260,000 to the low $300,000-range. The developer reports they have already closed on 240 of the units available, with over 200 more currently on their waiting list.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – According to reports, Ascaya – a master-planned luxury community located in Henderson that was formed by blasting 15 million cubic yards out of a mountain range – has seen sales on-pace to double their number this year when compared to 2020, a year when sales profits were already at a level that were three times higher than they were throughout the previous three years.

Among the recent new buyers of land in Ascaya is Mark Davis, owner of the Las Vegas Raiders NFL team, who purchased a 6-acre plot to construct his custom home featuring views of Allegiant Stadium, his team’s home base.

And according to the developer, the number one draw of Ascaya is the community’s breathtaking views of the surrounding region; in addition, it also features a $25 million clubhouse and a two-acre park currently in the works.

The majority of sales in Ascaya have consisted of vacant lots upon which buyers have been building their own homes to their personal specifications; a small number of sales have been made up of speculative-built homes, reports say.

Currently, the developer of Ascaya – Henry Cheng, a Hong Kong billionaire and owner of NWS Holdings Ltd. – has closed over $38 million in sales in 2021 alone, with an additional $8 million in sales currently under contract. This is in stark contrast to the dismal rate of sales when the community essentially “stalled” due to the housing crash of the mid-2000’s, or even when it re-opened in 2014.

However, with the recent recovery of the Southern Nevada economy and housing market, Ascaya has attracted a new breed of upscale clientele who were attracted by low mortgage rates and the greater bang for their buck Las Vegas afforded them. With that being the case, Ascaya has seen its growth explode over the past year or so.

Ascaya currently features over 300 homesites, and homes that are constructed there are mandated to be of at least 4,500 square-feet in size, according to the developer. Currently, 26 new homes have been built, 18 are currently being constructed, and 21 are in the planning stages.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – The MSG Sphere at the Venetian, the much talked-about high-tech Las Vegas event venue that is currently in the works, reached a major development milestone recently when the final 32 steel beams were bolted into place by the 650-strong construction crew, according to reports.

Madison Square Garden Entertainment (MSG) Corporation is the construction manager of the MSG Sphere, and handles “strategic planning and the construction timeline, as well as management of all subcontractors,” according to a press release put out by the company. The previous construction manager, an engineering firm called AECOM, remains in a supporting role.

Madison Square Garden Company Vice President of Construction Nick Tomasino noted that there will be two “topping out” ceremonies for the project, with the first representing the completion of the steel beam bolting and the second slated for 2022, when the venue’s “exosphere” will be added.

The exosphere will consist of 580,000 square feet of LED light panels that will be able to be seen from several miles in the distance, and will increase the height of the current MSG Sphere itself by approximately 30 percent.

When completed, the MSG Sphere will be a 400,000-square-foot, 18,000-seat, 360-foot-tall globe-shaped arena slated to be constructed on 63 acres of property located behind the Venetian Resort Hotel Casino on the Las Vegas Strip. The exterior of the sphere will feature 36 miles of variable intensity LED lighting – the aforementioned exosphere – enabling the structure to allow outside spectators to peer through a transparent façade to watch the concert within; at higher lighting intensities, outside vision will be obscured.

The venue will typically not feature sporting events, but rather cater to musical performances and concerts; however, the occasional boxing or MMA contest could be held there if needed. Originally slated to be opened in 2020, the project has fallen behind scheduling estimates and is now eying a 2023 opening date.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – According to reports, the prices in the Las Vegas rental home marketplace continue to climb amid the recovering local post-COVID economy, and are now ranking among the fastest increasing in the United States.

May saw rental home prices soar as demand remains very high and supply still very low; those factors, combined with the rapidly-recovering Nevada economy, means that there’s people out there with money who want to rent properties, and prices are always set by demand.

The average rent of a Las Vegas home increased year-over-year in May a whopping 17.3 percent, with April showing an 11.3 rate gain over the year before as well, illustrating consistent month-to-month growth.

Las Vegas is now tied with Riverside, California for the second-fastest rising home rents, behind only Phoenix, Arizona, which experienced a rental rate increase of 17.7 percent in May.

Competition for what rental properties there are is fierce, and often realtors are noting that people are filling out multiple rental applications and are nonetheless having a difficult time actually closing a deal with landlords.

During the COVID-19 pandemic, the rental market in Las Vegas initially suffered, but as vaccine distribution has stepped up and more and more of the country has been inoculated, the recovering economy has fueled increased demand for rental housing. However, landlords are also seeing increased competition from the home-buying market due to lower-than-average mortgage rates available driving sales to a higher level than usual.

But this home-buying frenzy has also helped the rental market as well, since many new homeowners may still need a place to live until their home is ready, and would turn to short-term rentals to satisfy that need.

Other factors driving the Las Vegas rental market are people who moved to the Southern Nevada region for its cheaper cost of living to work remotely during the pandemic.

Shelter Realty Property Management specializes 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Finally moving out of your parent’s place into the big bad world? Naturally, you’ll have more responsibility, and will have to look out for yourself more. You’ll need to learn about things like paying bills you’re not used to paying for, and that you should always read any paperwork you’re given before signing it. 

Being smart with your money, budgeting wisely and not spending more on your rent than you realistically can are great ways to start strong in solo life. It’s also important to stay away from scams and frauds. Never pay for an apartment you haven’t had a chance to tour, and always be careful about who you’re doing business with. 

If all these tips are confusing you and you’re not really sure what to do, don’t worry. Here are some of our top tips for renting your first apartment. 

Know Who You’re Dealing With 

Unfortunately, there’s no shortage of scammers and criminals in the real estate world, and you don’t need anything much except for money to be a landlord. That said, it might not always be safe to trust landlords to be who they say they are, or even about the history of the property. 

If you’re renting a place with someone you don’t know well, get in touch with a provider of landlord background check or any similar service so you can verify the authenticity of your future landlord’s claims and find out if there’s anything fishy going on with the property. 

Don’t Pay Too Much Rent 

Obviously, you don’t want to rent a property for above market value, but you also don’t want to rent one that’s nicer or more expensive than you can afford. Ideally you shouldn’t be spending any more than 30% of your gross income on rent, and be smart about your savings. 

Be careful about how much you’re paying and if utilities are included in the package or not. Sometimes bills like water and electricity come out of your rent payments, and other times they don’t. It can even be possible that you need to pay some of the utilities and bills yourself because they’re not included in a “utilities included” rent package. 

Consider the Parking Situation 

Parking spaces aren’t always ideal in all places, and if you’re getting a cheaper than usual deal for an apartment it may be because it comes with some hidden cons. Check if any parking space is available nearby, and if the parking lots are safe. The last thing you want is to get mugged or attacked while you’re getting out of your car and heading for your home. 

Make Friends with Your Neighbors 

Your neighbors and the people who are living in the area are by far your most trusted source of information on what it’s like to live in the area, you also need to know who you’ll be living around to make sure there won’t be any problems – particularly if you belong to a marginalized community. 

Shelter Realty Property Management specializes 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.

Mark

www.shelterrealty.com