Category Archive : Area Living

LAS VEGAS, NV – In a city where seemingly every building or attraction is constantly fighting for your attention, the one that may rise above them all in terms of spectacle will be opening its doors in 2020, as plans for the futuristic music venue MSG Sphere – due to begin construction later this year – was revealed to the public this week.

The MSG Sphere, a joint venture between Sands Corp. and Madison Square Garden, 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.

Judging by the conceptual renders supplied by the Madison Square Garden Company, the MSG Sphere, once completed, will truly be a unique attraction in a city known for many, as well as an unbelievable sight to behold in its own right. The exterior of the sphere will feature 36 miles of variable intensity LED lighting, enabling the structure to allow outside spectators to peer through a transparent facade to watch the concert within; at higher lighting intensities, outside vision will be obscured. In addition, images of Las Vegas taken via a camera system could be projected upon the sphere as well.

MSG Sphere, 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; Photo credit: The Madison Square Garden Company

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. Interactivity will be emphasized via high-speed wi-fi access for each and every seat, enabling concertgoers to constantly and easily document their experience on the social media platform of their choice, posting comments, photos, and video clips to their followers with ease.

Inside, a 180,000-square-foot ceiling will feature massive video screens for attendees to watch, and a floor-installed bass speaker system should appeal not only to those taking in a concert, but club-goers on evenings when electronic dance music acts take the MSG Sphere stage, giving the music venue a multi-genre and event capability.

And in addition to the MSG Sphere being dazzling to behold in a visual sense, it’s also planned to be just as impressive from an aural perspective as well; the venue will feature an acoustics technology developed by the German company Holoplot known as “beamforming audio,” a technology that sends sound directly to a specific location via planar audio waves. Going beyond the experience of standard stereo speaker systems, the transmission of audio using beamforming tech is being touted as so precise that individuals seated in the same vicinity could hear completely different sounds while taking in the same performance.

Parking for the venue will make use of facilities at nearby casinos, utilizing 12,101 spaces divided up among the Venetian, Palazzo and Sands Expo Center garages as per zoning and land use permits issued in February by Clark County city commissioners; in addition, owners of the MSG Sphere will create an additional 304 spaces on their own property to supplement their parking needs.

Looking for relocation information on the fast-growing Las Vegas market? New home recommendations? Las Vegas apartments, condos even area nightlife and entertainment expectations? Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Huntridge Shopping Center, located in downtown Las Vegas at 1116 E. Charleston Boulevard, has a reputation for being on the “wrong side of the tracks,” so to speak. However, J Dapper, the owner of Dapper Companies, is about to change all that with an extensive remodeling of the property which has local residents strongly voicing their support.

In 2016, Dapper purchased the 62,000-square-foot center from owner Paul Kellogg – who also runs the Huntridge Tavern on the property – for $5.2 million, and has since been planning a massive face-lift to the property that has only recently begun to take shape. With the planning stage complete, Dapper has recently been wooing several high-profile retail, dining, and entertainment entities to set up shop in the center in order to complete his vision of a fancy, high-end, and artistic addition to downtown Vegas.

Dapper is no stranger to the historic Huntridge neighborhood of Downtown Las Vegas; to date, they have invested at least $10 million in three commercial real estate properties in the vicinity of Charleston Boulevard and Maryland Parkway, including the $2 million renovation of the Gamblers Book Shop, which Dapper as referred to as a “passion project.”

As for the Huntridge Shopping Center, Dapper has said that he’s approaching the impending remodeling with a flair for the dramatic; seeking to bring out and highlight the property’s mid-century design aspects with a modern twist and a family-friendly atmosphere, including a large, $375,000 neon sign in the Googie style, which is a retro-futuristic aesthetic that was popular in the 1940’s through the 1960’s. The eye-catching style, which emphasized up-swept roofs, curvaceous, geometric shapes, and bold use of glass, steel and neon, was embraced by Vegas of years past, but has been largely abandoned in recent decades.

New tenants to the Huntridge Center, which are expected to help revitalize the property and attract traffic, include several eateries such as an Asian-themed restaurant, a Wingstop chicken franchise, and an establishment by Restaurateur Harwell. In addition, several original tenants remained after the sale, including a pharmacy and barber shop; both have been relocated to other areas of the center in an effort to re-shuffle tenants to make room for new additions, and both are in the process of being remodeled as well. Other business holdovers also include the aforementioned Huntridge Tavern and a thrift store.

Dapper also purchased other properties adjacent to the Huntridge property, including a former drum shop, a residential fourplex, and an empty commercial building; some of these buildings will be incorporated into retail aspect of the shopping center, while the fourplex is in the process of being torn down to make room for additional parking.

Another process Dapper has used in attempts to drum up new interest in the Huntridge Center is the addition of Food Truck Fridays, which involves a number of vendors on wheels who visit the property on certain Friday afternoons to peddle their tasty wares, including Blue Mahoe BBQ, Bulldog is Unleashed and Dazzling Bistro.

The Huntridge Shopping Center remodeling and revitalization efforts are expected to be complete in early-to-mid 2018.

Looking for information on the fast-growing Las Vegas market? Interested in whether or not Vegas is moving into your theme of living style and entertainment values?  Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Las Vegas’ transformation into a major player in the national sporting scene (the region has already successfully lured popular NFL team the Oakland Raiders into the fold, come 2020), continues to chug along as a home-town Pacific Coast League baseball team recently announced they have broken ground on a brand-new, state-of-the-art facility sure to attract many new fans in the near future.

Minor League Baseball the Las Vegas 51s – named after the infamous Area 51 military base located 80 miles north of Vegas – broke ground on Friday, February 13 on the Las Vegas Ballpark, a $150 million, 10,000-seat stadium located in Summerlin, with construction due to be completed in time for the start of the 51s’ 2019 season.

In April 2013, the 51s – formerly known as the Las Vegas Stars until they were re-named in 2001 – were purchased by Summerlin Las Vegas Baseball Club LLC, a joint venture of Howard Hughes Corp. and Play Ball Owners Group. The group’s intention was to eventually move the 51s to a new stadium in Summerlin. In October 2017, the Las Vegas Convention and Visitors Authority approved a 20-year, $80 million naming rights agreement to help pay for a new $150 million ballpark, which is expected to include 22 suites, a center field pool, kids’ zone, and several bars. The stadium will be owned by the Howard Hughes Corporation.

The team won their only division title in 2002, with the team posting the best record in the league at 85–59, but they lost to the eventual PCL champion Edmonton Trappers, three games to one. In 2012, the 51s signed a Player Development Contract with the New York Mets through the 2016 season.

The 51s have played out of Cashman Field Las Vegas since 1983, which has a capacity of 9,334 people; the decision to move to a brand-new home stadium was based on a number of factors, with most of them revolving around the age of the facility. Considered far behind the times, Cashman Field had fallen into disrepair in recent years, with the field, bullpens and clubhouse criticized by players as being “second class” and “decrepit.” The stadium also has very limited training facilities.

The final straw, however, fell in 2015, when the stadium’s sewage system backed up during an actual game, causing raw sewage – including actual fecal matter and other potentially infectious materials – to flow into the dugouts, driving the team out onto the playing field; it’s a problem that players and team owners say has yet to be fully rectified, with manager Wally Backman expressing concerns that the incident could repeat at any time. The numerous issues eventually drove team president and chief operating officer Don Logan to publicly declare his embarrassment to have the 51s associated with Cashman Field in any way.

“It’s disappointing that Vegas has the worst facility in our league when we have such a great town with the greatest hotels, the greatest dining, the greatest shopping,” he said. “It’s not becoming of this community to have a place like this.”

Come 2019 and the completion of the Las Vegas Ballpark, however, the Las Vegas 51s – and their fans – will finally have a new stadium with cutting edge, modern amenities that they can be proud to call home.

Looking for relocation information on the fast-growing Las Vegas market? New home recommendations? Las Vegas apartments, condos or rental info? Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – After the recent rebirth of Las Vegas – with jobs, the real estate market, and the economy all in the midst of an unprecedented boom period – housing is in great demand, and unfortunately current inventory is unable to meet that demand. In an attempt to close the gaps between the haves and the have-nots, one job market in particular has seen a massive uptick: the construction field, and employers are desperate to get their hands on as many able-bodied workers as humanly possible.

According to reports, employment in the Las Vegas construction industry has jumped over 18 percent from the same period one year ago, with nearly 70,000 people employed locally as of December 2017; that represents nearly 11,000 construction jobs added in the Southern Nevada region over the course of just 12 months, which is a startling amount of growth in such a relatively short amount of time.

The construction industry took a hard hit in Vegas when the housing bubble burst in the mid-2000’s leading to numerous layoffs and projects that were literally abandoned and left to sit dormant for years. However, after a resurgence of the local economy leading to record employment and real estate growth, people are heading to Las Vegas once again to take advantage of booming opportunities for investments and jobs, and houses, apartments and condos have been snapped up almost as quickly as they’ve become available. This status has seen prices for abodes leap as inventory dwindles, and efforts to build new lodgings to accommodate the need as seen resurgence in the construction industry as well.

Representatives of the Southwest Regional Council of Carpenters anticipate that their membership numbers will increase by over 50 percent in the upcoming year-and-a-half, and are putting together portable classrooms in order to be able to meet the swelling ranks of workers that are needed. Even now, with the increase in construction jobs in Vegas – the region is currently 18 percent over the U.S. average for number of jobs held in the field – development is still behind the curve when it comes to demand, as Nevada is experiencing a population growth rate that is second in the nation, behind only Idaho.

Despite the growth in construction over the course of the last year, employment in the field is still below the peak years before the housing bubble burst, a time when over 112,000 were employed to erect houses, casinos, and office builds; contrast that with only 34,800 jobs available during the very heart of the recession in 2012.

However, at this current rate of growth, the Vegas of today stands to not only eventually catch up, but eclipse the region’s mega-successful days past, with developers working on countless housing tracts, apartment buildings, offices and warehouses; in addition, there are also huge projects in the works that promise to remake the entirety of Southern Nevada with construction underway on the Oakland Raiders’ 65,000-seat football stadium, the Las Vegas strip’s  Resorts World Casino, and a huge expansion of the Vegas Convention Center, as well as countless other projects. Needless to say, Vegas needs construction workers, and the need will only increase in intensity as time goes by and demand for housing increases more.

Need information on the fast-evolving Las Vegas market? New home construction referrals? Las Vegas developers  for investment homes in the area? Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – 2017 was a red-letter year for Las Vegas in terms of many growth factors- the economy, the real estate market, the job market, and investors have been clamoring to continue that trend leading into the New Year. With the economy in the region on the rebound after laying in stagnation for the better part of a decade, Vegas has become a destination for those looking to not only make a quick buck on a sure thing, but also those who are looking to begin a new chapter in their lives by relocating to a job market where there is ample chance to succeed due to the many opportunities afforded by the many new companies and businesses that have recently taken up residence in Southern Nevada.

And when you have a rising population in any given region, you can’t expect residents to sit in their houses doing nothing when not at work; they need places to go and shop for groceries, enjoy a relaxing drink with their friends, see a movie, or go shopping for the latest fashion trends. That’s where Las Vegas’ downtown area comes into play, and experts are predicting the growth it experienced in 2017 to continue into 2018 to accommodate the rise in the local population.

Currently – despite the development progress over the course of the last year – the downtown area is still in a state of recovery from the economic downturn that Vegas. While improved in many respects, some sections still feature large swaths of boarded-up storefronts – eyesores in an otherwise steadily-growing urban destination for local residents.  For example, the Fremont Street area has experienced a great deal of improvement, but the eastern section is still comprised mostly of empty lots of land and abandoned stores; however, developers have tentative plans in the works to bring a five-story apartment complex to Fremont Street, in addition to a potential multifamily project in the area as well, according to reports.

In addition, Las Vegas city officials have designated the Fremont Street area as a “technology proving ground” in an attempt to develop the area and keep economic growth on an upward angle. They are doing so by addressing quality of life issues that always come along with growth and change in any given region, such as resident safety, traffic flow and congestion, mass transit – including an autonomous shuttle, which is already in-place and running as a precursor to driver-less cars – and pollution. The goal, officials say, is to attract cutting-edge businesses as well as people with families that would want to call Fremont Street, and the rest of the downtown area of Las Vegas, home.

Las Vegas Mayor Carolyn Goodman has dubbed the effort to revitalize the downtown area in general – and Fremont Street in particular – as “Downtown Lights Up,” which will consist of ample new eye-catching signage welcoming visitors and residents alike, as well as the new, aforementioned tech-focused approach to development, including a complete re-vamping of the video canopy at Fremont Street Experience.

Overall, the comeback of Las Vegas from the brink of ruin it was teetering on for many years is nothing short of astounding, and – one piece at a time – the area is putting itself back together better than it ever has before. No longer content to remain simply a collection of casinos, Vegas is re-inventing itself as a destination for business, sports, arts, real estate, and leisure for many years to come, and the efforts currently directed at revitalizing its downtown area are testament to that.

With Las Vegas taking the top spots nationally, we are here to help you find out all you need about getting into this hot market, handle your rentals, or buy and sell property locally. Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – With 2018 finally here, the future of Las Vegas is starting to take real shape; and nowhere is that more apparent than the much-anticipated arrival of the Las Vegas Raiders National Football team, whose new home base – Las Vegas Raiders Stadium, a $2 billion, 65,000-seat complex being built on a 63-acre plot of land located just west of Interstate 15 – officially broke ground in November of 2017 and recently overcame several new hurdles in its development while making headway towards its 2020 goal of completion.

An anticipated delay involving an underground flood channel was recently overcome via a Section 408 permit issued by the U.S. Army Corps of Engineers, which granted developers the ability to move the flood-control culvert so that it circumvents the stadium grounds so as to not delay construction; previously, the stadium’s 2020 grand opening date appeared to be in peril due to this issue, with completion possibly being pushed back to 2021 as a result.

The flood channel provides a conduit for storm water from the Decatur Boulevard and Russell Road-based Tropicana Detention Basin to the Flamingo Wash, located in the vicinity of Flamingo Road and Swenson Street. The culvert currently runs through the Las Vegas Stadium grounds in by ways of a 6-foot tall, 15-foot wide “S”-shaped channel, after which it runs underneath several other notable Vegas properties – such as the Hard Rock Hotel and MGM Grand – before reaching its drainage point. Thanks to the Section 408 permit, the culvert will be transplanted to the west approximately 150 feet, steering it clear of the ground of the stadium project.

With the Las Vegas Raiders stadium progress back on track, the developers and team owners are now looking at addressing other issues that will eventually arise once the project is completed— namely, a need for regulating the more-than-likely increase in pedestrian traffic, as well as the availability of new emergency services that will be required by public safety laws to be local to the stadium.

Reports indicate that the Las Vegas Raiders had struck a bargain with Clark County officials to foot the $1.4 million bill for a specific set of emergency services within the vicinity of the stadium, in addition to new infrastructure situated around the stadium’s parameter in order to manage the anticipated large increase in foot traffic, including pedestrian bridges or underpass alterations to existing sidewalks and roadways, installation of traffic control devices, construction of local Las Vegas Metro Police headquarter/detention facilities, and equipment and services to deal with any unforeseen emergencies. The exact configuration of this complex web of new infrastructure has not yet reached a detailed planning stage yet; that will come once the developers submit their parking plans for the stadium to Clark County by their September 2018 deadline, which needs to account for the at least 14,000 off-site parking spaces as required by county code. Once parking has been approved, work can commence on how to manage the flow of foot traffic and other services required of a major event venue, while avoiding impacts upon local vehicle traffic.

These large-scale changes will prove to be a tricky task in a large, busy city such as Las Vegas, but in the end they will provide for a better and safer experience for both tourists and local residents alike as congestion in the vicinity of Las Vegas Stadium is sure to increase exponentially once the Raiders make their 2020 debut in Southern Nevada.

Thinking of relocating to Las Vegas? Let us help you plan your relocation. Our experienced agents are here to help you with your Southern Nevada relocation efforts including neighborhood statistics, schools, educational information, etc. Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – In a year of never-ending real estate news, 2017 comes to a close with Las Vegas as the region of the United States with the fastest-climbing real estate market; today, let’s take a look back and evaluate some of the highlights – and, considering what a red-letter year it’s been for Nevada, that’s no small task – in anticipation of what is yet to come in 2018.

Raiders Stadium: The former Oakland Raiders will be transplanting themselves to Las Vegas in 2020, and to make them feel at home, in May they purchased a 63-acre plot of land located at Dean Martin Drive and Russell Road in order to construct a massive $2 billion stadium and practice facility – with $750 million of that amount coming from public funding sources – which officially broke ground in November. The project has been credited with increasing tourism interest in Las Vegas, as well as serving as a beacon to companies interested in setting-up shop in Southern Nevada due to the local economic benefits the famous NFL team is providing, even well before their arrival in two years.

World Market Center: Wall Street-based investment firm The Blackstone group made a particularly noteworthy acquisition in Las Vegas in 2017- the World Market Center, a nearly 5.5 million square-foot furniture showroom facility located on Grand Central Parkway at Bonneville Avenue. The purchase, the cost of which was not made public, was announced in September, which was the same time-frame as Blackstone’s procurement of International Market Centers, which owns furniture showrooms located in both Vegas and North Carolina. Blackstone has made several high-profile purchases of Las Vegas real estate in the last few years, including the Las Vegas Strip-based The Cosmopolitan, a 3,000-room hotel.

Fontainebleau: The infamous 60-story hotel, which has been standing overlooking the Strip in its partially-constructed state for years due to the iron grip of the mid-2000’s housing bubble burst upon Southern Nevada, has changed hands several times; in August, real estate investment firms Witkoff and New Valley made public a deal where they acquired the property from the previous owner, Billionaire Carl Icahn, for the sum of $600 million (Icahn had purchased during the depths of the recession for $150 million), with the hopes of finishing the facility for an as-of-yet unannounced purpose (although presumably it will take the form of a hotel of some sort), with the project currently carrying the temporary moniker “Project Blue” as new development efforts are set to commence in 2018.

Alon: The Alon site, a 38 acre expanse of land located on the Strip adjacent to the Fashion Show Shopping Mall, was purchased in December for $336 million by billionaire developer Steve Wynn, who has purchased several properties in the area in recent years – including the $1.5 billion Paradise Park hotel and resort – although it is currently unknown what his plans are for his newest acquisition, the sale of which will be finalized in the first quarter of 2018. At the moment, representatives for Wynn have merely stated that they are purchasing the Alon site and some of its adjacent property – which has changed ownership hands several times over the years, including in 2007 and 2014 – for “future development.”

Town Square: A large open-air retail and office complex located at Las Vegas Boulevard and Sunset Road, Town Square Las Vegas was sold in January to investment firms TIAA and Fairbourne Partners; price was not publicly disclosed, but according to reports the companies took out a $215.6 million mortgage in connection to the acquisition of the 100-acre property, which was seized via foreclosure by creditors in 2011. Retailers already in-place at Town Square include Apple, The Container Store, and Whole Foods Market, in addition to office tenants such as SolarCity.

 Looking for information on investment properties in the area? Give us a call at 702.376.7379 so we can answer any questions you may have.

NEVADA – Las Vegas has, for decades, has been considered the epicenter of lavish hotel accommodations and casinos emphasizing games of chance and potentially big payouts for lucky competitors. However, in the new era of Vegas, defined now by a steadily rising and recovering real estate market and skyrocketing economy propped up by renewed business interest in the region, some casinos are attempting to cash-in not as much on gamblers, but more on tourists in a more family-friendly version of Las Vegas which has risen from the mid-2000’s housing bubble.

For instance, the former Monte Carlo casino resort – now known as the Park MGM casino resort, located on the famed Vegas strip – is undergoing a large-scale renovation, with the stated goal being to transform the property from what many considered an out-of-date, middle of the road property, to a classy, sophisticated hotel with the trappings of higher-class casino games in a bid to attract a younger demographic. Glitz and glamour will be downplayed in favor of what the developers are referring to as a more “romantic” feel, with décor featuring the roots of trees growing out of ceilings, opulent crystal chandeliers, and priceless works of art by masters such as the famous Pablo Picasso.

Park MGM will still boast a whopping 2,700 rooms, but approximately 290 of those rooms – located on the topmost floors of the hotel – will be turned into NoMad Las Vegas, an upscale series of suites. Gone from the Park MGM are garishly patterned carpets, drapes and bright, pastel colors; in their place are subdued hues, such as reds and greens – and furnishings featuring more artsy character.

The reasoning behind the $450 million re-design, according to the developers, is that modern affluent youth are typically turned off aesthetics they may associate with kitsch or tackiness, and as a result a more cutting-edge, modern design aesthetic is being embraced by the Park to evolve with the times. In addition, younger people have demonstrated less interest in gambling activities and as a result, the Park will be including upgrades featuring more varied entertainment options to appeal to this group.

While gambling will be scaled back in some respects, it will remain as a central attraction to retain the resort’s current, core audience, mostly made up of an older demographic; however, one notable omission from the premises once the facility re-opens after completion of the renovation are slot machines, AKA one-armed bandits.

Park MGM follows in the footsteps of several other high-profile casinos on the strip who have experienced faltering business but have seen a resurgence after successfully renovating and re-branding themselves to accommodate changing times and tastes. The Park MGM will, upon re-opening – have 90 percent of the renovated rooms expected to be open for rental starting in January of 2018. Park will offer rooms starting at $88 a night to lure in younger customers, and the company is counting on the property’s central location on the Las Vegas strip making it a powerful draw for tourists of all ages going forward.

Need real estate assistance in the fast-evolving Vegas market? Thinking of relocating here? Maybe just visiting and poking around? Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – California is known for a great many things- it’s the epicenter of the nation’s entertainment industry, home to countless movie stars, a leader in environmental causes, technology, and much more. However, unfortunately, once you peer beneath the star-studded veneer and look upon the working class in the so-called “Golden State,” you’ll see a population who is struggling to make ends meet and who are looking for a better way of life.

Many Californians are turning to Las Vegas for the opportunities they feel are being denied to them at home in a bid to finally achieve success.

The high cost of living in California has resulted in a great deal of hardship for the middle-class – with many people finding it necessary to move back in with their parents just to make ends meet – and like in many other areas of the country, people are finding it harder and harder despite working 40+ hours a week with many of them fleeing what they see as a sinking ship. An example- Michael J. Van Essen, a retiree from Silver Lake, California finally got tired of paying $1,160 for a single-bedroom apartment and decided to pick up and move out of state, where he found he could get much more for less.

One region in particular where they’re fleeing to is – you guessed it – Las Vegas, Nevada, where the recent economic and housing boom, revitalizing the area after over a decade of dormancy, has painted it as a very attractive destination for those looking to begin their lives anew for a number of quite valid reasons. For one, it’s situated close to California, so the cost and hassle of moving a lifetime of belongings is minimal when compared to heading elsewhere in the county. Also, due to the spike in the economy in Vegas in the last few years, it’s become a bona-fide hotbed of job and career activity, with numerous businesses, companies, and high-profile major league sports teams are transplanting themselves here; the job market in Southern Nevada is also growing by leaps and bounds with no signs of slowing down, so for now, it seems, obvious it is becoming a magnet for hopefuls looking for a new start.

Additionally, the cost of living is far more manageable in Las Vegas then California; for example, the median home value is currently $512,800, with values having gone up 7.1% over the past year. In contrast, there are many single-family homes on the market in Vegas in the range of $200,000 to $300,000, which is obviously far more manageable amount for working class people on a budget. Incidentals, such as taxes and such, are more reasonable as well when compared to life on the far-west coast of the U.S.

Therefore, if you’re a California resident – or are living in a similarly difficult economic climate elsewhere in the nation – Las Vegas is certainly worth your consideration when it comes to achieving a healthier work-life balance including the goal of home ownership (without working yourself to death while doing so).

Thinking of relocating to Las Vegas from a higher cost of living region? Let us help you plan your relocation. Our experienced agents are here to help you with your Southern Nevada relocation efforts including neighborhood statistics, schools, educational information, etc. Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – With the local economy on the rise and new businesses are arriving in the area, Las Vegas is on the verge of its greatest all-time comebacks. But the famous city and its surrounding areas are still struggling in one area- attracting the next generation of young business leaders and workers, and to that end, local officials are eyeing several different projects they hope will appeal to Millennials, a relatively unique section of society with different motivations for success than most.

Millennials are the demographic cohort following Generation X; those born in the early 1980s throughout the mid-1990s to early 2000s, and they are typically known for their savvy with technology and social media and a high degree of ambivalence about material success, preferring a more stable work-life balance and a fulfilling social life as opposed to grinding away for hours behind a desk. As such, Las Vegas is seen by many as the city of excesses; it would only be natural that this would not be the average Millennials’ first choice to live. However – owing in part to their love of posting exciting activities on social media platforms such as Instagram – Southern Nevada developers are starting to invest in amenities they hope will draw in this coveted generation, including a zip line across the Las Vegas strip from Caesars Palace and an e-sports arena at the Luxor, both currently under development and slated for use in 2018.

In addition, a construction project at a Lake Mead National Recreation Area campground is set soon, which will result in approximately $3 million in improvements to the popular Boulder Beach Campground, including restorations and repairs to at least 73 campsites, roads, and sanitation and potable water refill stations. In addition, structures to provide shade during hot summer months will be added as well, providing an environment sure to attract Millennials, many of whom are big fans of outdoor activities when on free time.

Additionally, sporting events are always a great way to attract the younger generation, and in addition to the much-publicized start of construction on the incoming Las Vegas Raiders NFL team’s eponymous stadium, due to open in 2020, local officials recently gave the green light to another sporting complex- the Las Vegas Ballpark, set to be built in Downtown Summerlin. The proposed 10,000-seat baseball stadium will be the new home of Las Vegas 51s Triple-A minor league baseball team, with the initial groundbreaking set to be held in early 2018. The developers have laid out what they refer to as an “aggressive” development schedule, and anticipate the stadium being open in time for the 2019 season. Again, offering more in the way of exciting entertainment options for residents is seen by officials as a way to attract younger people to Nevada, something access to quality sporting entertainment often results in.

A region with a rapidly growing economy and a very competitive real estate and job market needs young people to fill their ranks more than anything, and recent developments in Las Vegas have made it clear that businesses and officials are doing what they can to entice Millennials to take a chance on all that Las Vegas has to offer.

Thinking of relocating to Las Vegas? Maybe investing? If you need real estate information on the fast-evolving Las Vegas market, please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – After the housing bubble in Las Vegas during the mid-2000’s there hasn’t been much of a need for construction workers, as numerous houses and properties – purchased by unlucky investors looking to turn a fast buck – found them sitting unused for the better part of a decade or more as the demand for homes seemingly dried up overnight. Fast-forward to 2017, and the rapidly growing and recovering economy of the Southern Nevada region is not only gobbling up those formally vacant dwellings and vacant lots, but demand is now such that the most sought-after employees in the state are not accountants or engineers, but – you guessed it – construction workers.

The numerous construction projects on the drawing board in Las Vegas have resulted in delays as companies far and wide have found themselves short on workers they need. Currently, demand for affordable housing and apartments in Vegas has resulted in a shortage of selection and skyrocketing prices, and companies have been working overtime to erect new dwellings in an attempt to keep up with demand and to help slowly draw those prices down to a more manageable level.

With work currently progressing on the $1.9 billion Las Vegas Raiders stadium, and an estimated $15 billion of construction projects already slated for the next decade, experts say that up to 10,000 workers are currently needed in order to get these projects up and running. In addition to housing, entertainment, retail, and other building projects have sprung up in recent months, including work on a 14-screen movie theater in North Las Vegas that represents a revitalization attempt of the beleaguered area’s economically-downtrodden downtown district.

In addition, construction in Southern Nevada may get an additional shot in the arm thanks to the innovation of two local businessmen; currently, a high amount of materials for house and building construction needs to be delivered into the region from other states or even other countries, but Father and son Barry and Jordan Yost are investing in a new company – Precision Tube Laser LLC – that may change all of that.

Currently, parts for heavy industrial power generating items such as solar towers and pressure vessels are typically constructed and imported from the Southern United States or Asia; however, with the help of state tax abatement in the amount of $89,000, Precision Tube Laser LLC is the new, proud owner of a $1.2 million laser tube cutting machine – the TruLaser Tube 5000 – that is capable of cutting tubing and other materials into shapes with a precision that standard hand-held, propane-based cutting torches are unable to approach. Without the wait and cost of having to order materials from factories hundreds or even thousands of miles away, construction projects in the Las Vegas area can get a head-start on projects that otherwise might be stuck in the mire until expensive imported parts finally arrive.

The arrival of companies such as Precision Tube Laser LLC into the local construction scene are likely to herald more such innovation in the region once their need is proven; it’s likely that other needs relevant to the Vegas construction community that are served via out-of-state sources will eventually be served in-house as well, leading to an even larger boost to local real estate, and in turn, the need for yet more construction workers. Industry analysts are encouraging those looking for work in Nevada to get the training needed to get involved, as the majority of positions needed in construction tend to pay well, and are expected to provide regular work well into the future as Las Vegas continues on its journey back to prosperity.

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.

LAS VEGAS, NV – When a previously-downtrodden region is experiencing a serious upturn in terms of real estate demand and subsequent value, it’s only natural that investment dollars will begin to flow like finely-aged wine into such an opportunity; thus is the case with Southern Nevada, which is boasting a massive growth spurt over the course of the year after the mid-2000’s burst of the housing bubble laid waste to the local real estate market for nearly a decade.

With demand for housing and rental units skyrocketing and supply unable to currently keep up with demand, combined with a growing economy in the form of new businesses and jobs popping up in the region, Las Vegas is fast becoming the best bet for investment opportunities in the United States, and money-men are indeed sitting up and taking notice.

According to recent reports, The Blackstone Group – a name that should be familiar to anyone residing in the area (as the New York-based firm has been very active on the local real estate scene for some time now), recently purchased the southwest valley’s Elysian West apartment complex for the sum of $106.5 million, representing one of the highest prices ever paid for such a property in Las Vegas. The 466-unit complex cost Blackstone approximately twice the market average, according to reports, but given the fact that it occupancy level was nearly full – it was 96 percent at the time of its sale – and the cutthroat rental market in Southern Nevada forcing prospective tenants to be willing to pay more than usual for an apartment, the move was seen as a nonetheless very sound investment.

But during the same period of time – early August, 2017 – two other investment groups threw their hats into the Vegas housing ring with noteworthy purchases as well; DiNapoli Capital Partners of California acquired Palms at Peccole Ranch, a 404-unit apartment complex located on Charleston Boulevard, for $62 million. Again, as a distinct sign of the times, Palms at Peccole Ranch was 95 percent occupied at the time of its sale, and – as with Blackstone’s purchase – DiNapoli paid over the market average for their acquisition. But again, with local families, individuals, and new transplants to the area fighting over table scraps in terms of real estate, the investment by DiNapoli again can be seen as quite sound in the long run. And not to be outdone, another New York-based investment firm – Abacus Capital Group – paid out $24 million for Sterling Court, a 237-unit apartment complex in Clark County.

However, it’s not just rental space that’s in high demand in Las Vegas – the many businesses that are moving into the area due to the booming economy are obviously looking for space to operate in as well. In addition to the housing and rental markets, demand has been rising for industrial space in the region, especially smaller start-ups that are looking to set up shop and begin the process of growth by establishing roots in the community and hiring local prospects as they increase in scope. As a result, many owners of real estate in industrial areas are rapidly setting out to refurbish their properties to accommodate these companies; for example, Harsch Investment Properties is currently transforming 17,000 square foot property they own into several smaller units approximately 2,000 square feet in size, with the division intended to attract start-ups looking to begin small and work their way up.

As you can see, the rapid real estate and corresponding economic growth experienced by the Las Vegas region is creating a circle of growth; housing and rental demand and prices are growing, attracting businesses and investors that, in turn, create yet more demand, and so on. The bottom line is, of course, if you have money to invest, Las Vegas appears to be a great place to do it.

Need real estate information on the fast-evolving Las Vegas market? Free residential market appraisal? Property management assistance for investment homes in the area? Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.