Category Archive : Area Living

LAS VEGAS, NV – After a deadly fire three years ago that resulted in 6 dead, 13 injured, and dozens of families without a home, the former Alpine Motel Apartments has finally been rebuilt and rechristened as DLUX Lofts, with the new property owner pouring $3 million into the facility’s rehabilitation.

DLUX Lofts isn’t merely a recreation of the original three-story, 42-unit apartment complex that was all-but destroyed during an early-morning fire on December 21, 2019; it represents a significant overhaul, not only in terms of making it safe to occupy once again, but also due to a cutting-edge tech upgrade as well.

The building features a full redevelopment of the original structure, including a new sprinkler system throughout the entire complex – in both the hallways and in each apartment – as well as new utilities, new windows, a new roof, and new flooring.

All of the apartments – which range in size from 300 to 400 square-feet – have been given a luxury makeover, boasting amenities such as stainless steel appliances, quartz countertops, built-in bluetooth speakers, fingerprint and bluetooth-enabled door locks, a smartphone-compatible video-intercom access system, and high-speed WiFi internet access.

Despite all of the shiny new features, the units at DLUX Lofts are surprisingly affordable, with rents expected to be in the neighborhood of $1,150 to $1,350, a price that includes all utilities – such as water, electricity, and internet – as well.

The apartment complex rising from the ashes comes after what was described as the deadliest building fire in the history of Las Vegas, which saw tenants jumping from the windows of their second-and-third story apartments in a desperate bid to escape the flames.

Surviving residents stated that the building – which previously had no sprinkler system at all – had a history of failed fire inspections, and at the time of the blaze had not had any inspections at all for two years. Afterwards, investigators found over 40 fire code violations, in addition to asbestos contained throughout the structure.

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 upcoming high-speed railway system between Las Vegas and Southern Los Angeles – which has been gestating for a number of years now, having been plagued by a series of delays – has finally seen some forward momentum, as reports indicate that developer Brightline West is now ‘on-track’ to officially break ground on the project in 2023.

With the groundbreaking originally announced to take place back in 2020, the $8 billion project, once completed, will take the form of a 34-mile stretch of track in Nevada running along Interstate 15 and ending at a station located on the south end of the Las Vegas Strip.

This line would be fed by several lines from various locations in California, resulting in a total of approximately 185 miles of track overall. Travelers from Las Vegas would be able to continue from the system to Los Angeles via the Metrolink, which would effectively link Las Vegas with L.A. via a 75-minute trip.

Brightline is boasting that the railway could be responsible for removing “millions” of cars from the I-15, which would go a long way towards reducing pollution.

“The environmental assessment underscores the positive environmental impact of utilizing the I-15 for high-speed rail and is a significant step in the process to receive the key approval to begin construction,” the company said in a statement.

Funding for the project is slated to come from several sources, with Brightline applying for federal grants and private activity bonds in both Nevada and California; in addition, funding could be procured from the recently-passed federal infrastructure bill, part of which is earmarked to support rail projects.

The Brightline West railway project has been long-delayed due to several reasons, ranging from the COVID-19 pandemic and its effects upon financial markets to the 2020 presidential election and the economic uncertainty that it created at the time.

If the project finally proceeds in 2023, the expected completion date would is expected to be in 2027.

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 Harmon at 370, an apartment complex located near the famed Las Vegas Strip and adjacent to a large tract of vacant land that Formula One is currently developing into a new racetrack, has been listed for sale, with the property’s new landlord asking for the hefty sum of nearly $189 million.

Previously, the complex had been known as Harbor Island Apartments, and residents had grown quite used to the large plot of land next door – especially since its perpetual state of disuse had resulted in a sustained state of peace and quiet.

However, the 21.4-acre site at 370 East Harmon Avenue – situated approximately one mile east of the Strip – sold to Laguna Point Properties in the spring for $126 million, at which time it was rechristened The Harmon at 370; at the same time as that purchase, Formula One was in the process of buying the empty plot next door.

Greg Campbell, a founding principal with Laguna Point Properties, said that he started getting inquiries about selling the apartment complex before his company had even finished closing on the deal, as the news of a Formula One racetrack being built next door had generated a great deal of hype.

“They get a whole following of people who want to be around them,” Campbell said of Formula One; with that being the case, it didn’t take long for Laguna Point Properties to put the property they had just purchased back on the market, and at a much higher price point than they themselves had paid.

The Harmon at 370 is being marketed as being “suitable for hotel, resort, retail and mixed-use development,” and is expected to be demolished if sold, with the property expected to be developed into something that caters more towards Formula One fans and general tourists, as opposed to long-term housing.

Formula One announced in March that it would hold a 50-lap Grand Prix in Las Vegas in November 2023; the track that is currently in the works will, upon completion, run for 3.8 miles, with racers expected to hit top speeds of 212 miles per hour.

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 – UnCommons – a large mixed-used facility currently under development in southwestern Las Vegas – has officially entered the apartment construction phase of its development – known as phase 2 – after having fully leased the office buildings that were erected during the first phase.

Upon completion, UnCommons – located at Durango Drive and the 215 Beltway in the southwest valley – will essentially be a mini-city within a city, consisting of 500,000 square feet of offices, in addition to restaurants, health and fitness studios, relaxation options, and over 830 residential units.

The concept behind the $400 million project is that it will be a space where the various employees working for the businesses located there will have numerous solutions to all of their needs – living space, entertainment, exercise, and more – right at their fingertips.

UnCommons was announced in early 2019 and broke ground in summer 2020, and according to Matter Real Estate Group – the company behind its development – the project has officially begun work on its first 352-unit apartment complex, dubbed Vestra, which is slated to be available for move-ins in March 2023.

A second apartment complex, the 454-unit Domus, is currently in its design phase.

Matter has finished and fully leased two office buildings – with tenants including CBRE Group, Morgan Stanley and DraftKings – and is in the process of building two more; in addition, multiple restaurants and entertainment venues are slated to open in 2023 as well, including The Coffee Class, Smitten Ice Cream, SoulBelly, Saint Honoré Doughnuts and a sports bar called General Admission.

When completed, UnCommons is expected to be a boon for its inhabitants, who will be able to access the conveniently-located public retail and entertainment options built within rather than having to commute to farther areas such as Henderson for a afternoon or evening out.

Phase 2 is expected to be completed by summer 2023.

For more information on availability and more, visit https://uncommons.com

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – The housing market nationwide has been experiencing a series of hurdles and setbacks due to the ongoing inflation and rising mortgage interest rates that have been plaguing prospective homebuyers throughout 2022. However, real estate experts are noting that while Las Vegas isn’t immune to these issues, the marketplace is currently proving to be far more affordable overall than much of the country.

As 2022 soon enters into its final month, Las Vegas real estate expert Kirby Scofield stated in a recent interview that – despite the economic roadblocks that are in the way – individuals can still get a great deal in Southern Nevada if they’re willing to put in the effort, as the region features a unique set of circumstances that can prove rewarding for homebuyers.

“We have four casinos going up, two more sports teams supposedly going to be announced and thousands of jobs coming into Las Vegas, that means people are going to be moving…moving means buying and selling homes,” he said.

The factors contributing to an improving Las Vegas real estate marketplace include gradually-lowering home prices coupled with reduced competition for the current inventory; this situation, Scofield said, can provide the ability to secure a good deal on a purchase despite high interest rates on home loans, which are currently past 7 percent.

Scofield notes that buyers should be looking at homes that they can afford based on the current interest rates, but also keep in mind that the tough market is now causing sellers to offer compromises that can lower the overall money you need to sink into a deal.

In addition, Scofield also said that some first-time home buyers may qualify for a Federal Housing Administration (FHA) home loan, which would require only a three-and-a-half percent down payment.

“Utilize that it’s currently a buyer’s market to get seller concessions to buy down the points, and pay for your closing costs and get keys for home you deserve,” he said. “More homes available in FHA limit, double than we had in inventory in January alone of every home total in Vegas.”

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 Mirage Las Vegas is slated to transfer operations next month from MGM Resorts International to Hard Rock, the gaming arm of the Seminole Tribe of Florida, marking the first time that a Native American tribe will run a resort casino on the famed Las Vegas Strip in its long history.

The Seminole tribe has developed extensive hotels and resorts for gaming on some of their reservations, and in 2007 the tribe bought the Hard Rock Cafe franchise for $965 million, including 124 Hard Rock Cafes, four Hard Rock Hotels, two Hard Rock Hotel and Casino Hotels, two Hard Rock Live! concert venues, and stakes in three unbranded hotels. Since then, they established the Hard Rock Cafe brand in their hotels and casinos. They now have a total of seven casinos.

Hard Rock announced that it had purchased the rights to operate The Mirage in December 2021 for an eye-opening $1.075 billion; currently, no immediate changes are anticipated, with the resort’s iconic volcano show expected to continue functioning as usual for the time being.

Once the shift in operations is complete, The Mirage will be switching from its current MGM Rewards program to Hard Rock’s Unity Rewards customer loyalty program, and eventually the name of the resort itself will be re-branded with the Hard Rock name, with extensive renovations transforming the building’s façade to the same trademark guitar-style shape as other Hard Rock resorts.

However, The Mirage will remain operating under its current moniker and form for the time being, as reports indicate that MGM has licensed the Mirage name and brand to Hard Rock for three years, royalty-free.

Despite that, it is expected that the venue may be closed for a period of time after Hard Rock takes over in order to make changes, renovations, and improvements where needed, although this has yet to be officially announced and may not prove to be the case.

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 – Ground has been officially broken on the Helios Health and Wellness campus in Las Vegas, a massive $5 billion project whose development is being headed up by Salt Lake City-based developer and general contractor Pacific Group.

The Helios project, upon completion, will take the form of a mixed-use facility that will encompass over two million square-feet of laboratory, research and medical office space. In addition, there will also be 500,000 square feet of retail and restaurant space as well as 250 hotel rooms.

The ambitious project will be completed in numerous phases, according to Pacific Group, with the total amount of development time estimated to be between seven and ten years. Ultimately, when finished, the Helios Health and Wellness campus is expected to generate more than 10,000 jobs in Southern Nevada.

Currently, there is massive demand for medical services in the Las Vegas region, owing to the swift growth of the population following a period of rapid economic and job growth, and serves as a prime example of the increase in healthcare construction spending there as of late. Of the 12 major sectors in the second quarter of 2022, Vegas ranked number two in terms of proposal activity in the healthcare market.

Despite rumblings of a national recession, healthcare developers are still betting on Las Vegas due to its population explosion in recent years. A recent study conducted by the University of Nevada predicts that the region’s population will hit approximately 3.4 million residents by 2060; that number currently sits at about 2.33 million.

Plus, another factor that has developers investing countless dollars into Vegas’ health industry is the overall need, with no new medical facilities having been built locally in the last year, leading to a dearth of options for those seeking care.

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 – Members of Life Time Inc.’s health club in Las Vegas can now have a much shorter trip to get their pumps on if they choose, as the fitness company has opened a new luxury apartment complex next-door to their Henderson gym, with a focus on amenities and services that cater to a healthier lifestyle.

Life Time’s high-end fitness complex in Henderson – the company owns 160 athletic clubs across the U.S. and Canada – offers members numerous conveniences such as indoor and outdoor pools, a café, tennis courts, activities for kids and a spa with hair, skin and nail services.

But with the opening of their apartment building right next to it – dubbed Life Time Living – the fitness company is offering yet another service for members- a place to live.

Life Time’s new apartment building, whose development costs over $70 million from start to finish, offers 149 units located directly across the street from Green Valley Ranch Resort. It boasts secure lockers for package deliveries, floor-to-ceiling windows, ultra-modern and expensive finishes, underground parking facilities, and even a “free” Life Time fitness club membership.

The apartment building was originally announced in 2019 with an opening date slated for 2020; however, the project was delayed by the COVID-19 pandemic.

The apartment units themselves are described as being “extremely high-quality” and there is “a small army of on-site concierge staff” to see to residents’ needs. However, such glitzy living comes with a price tag; apartments at Life Time Living begin at approximately $3,000 a month – with some coming semi-furnished – with penthouse-style units fetching as much as $7,000 or more.

Residents at Life Time Living can also get a variety of meals at the gym’s extensive café next door, with the menu offering numerous healthy options to eat, such as salads, sandwiches, and protein shakes.

In addition to their Henderson location, Life Time also has a fitness club in Summerlin, although the company has stated that they currently don’t have any plans to construct an apartment building there at this time.

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 new multi-family apartment complex in North Las Vegas celebrated its official groundbreaking ceremony last week, with both city officials and local civic leaders on-hand to help mark the occasion.

The “North Park Living” development, located at 4100 Scott Robinson Boulevard near Alexander Road and MLK Boulevard, will offer a total of 380 apartments upon completion, with the project consisting of 22 two-story residential buildings upon completion of the $85 million project.

North Park Living will also offer numerous amenities for residents, including an abundance of greenery and trees – in keeping with the “park” name – as well as a clubhouse, an event space pavilion, fire pits, pickleball courts and a resort-style swimming pool and spa.

The developer, Grand Canyon Development Partners (GCDP), noted that the project is expected to be completed by June 2024, although leasing of the units will begin in 2023.

GCDP President Sam Nicholson said that North Park Living will be unique addition to North Las Vegas, and will greatly assist with the housing shortage in the region.

“We are thrilled to partner and help create the North Park Living development,” he said. “This is an especially distinctive project for the North Las Vegas area, and the owner took great care in every stage of planning to provide a high-quality residential community at a value price for renters.”

As a way of giving back to the community, the owner of North Park Living, Rian Ross, donated $10,000 to Findlay Middle School during the groundbreaking ceremony.

“We are honored to give back to Findlay Middle School as a close neighbor to the North Park Living development,” he said. “As someone whose family has had deep ties to the North Las Vegas community since the 1970’s, it was incredibly important for me to show that we truly care for our neighbors that reside here while developing in the area.”

For more information on leasing opportunities contact the developer, Grand Canyon Development Partners Corporate Office at (702) 492-5300 or visit grandcanyoninc.com. Photo credit: KSNV News 3; Courtesy of North Park Living.

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 Convention Center is set to get a new coat of paint – and quite a bit more – when its upcoming two-year renovation project begins in just six months, and according to a presentation made to the Las Vegas Convention and Visitors Authority (LVCVA) board of directors this week, the total cost of the project is slated to be an eye-opening $620 million.

That number includes the addition of $20 million for new administrative and executive offices and a board meeting room, with LVCVA Chief Financial Officer Ed Finger noting the overall cost of the renovations fall exactly within the confines of the ambitious project’s original projected estimate.

The next meeting to take place in regards to the renovation is with the Governor’s Oversight Panel, which is slated to take place on October 12, at which time consideration will be given to approving the addition of the office and meeting space – which is planned to be twice the size of the existing one – as well as the overall schedule for construction.

The renovation will be giving a huge facelift to the Convention Center’s North, Central and South Halls, and with work on the South Hall likely progressing last due to the fact that it is the newest section of the building; in the meantime, some executive offices will be relocated there as work begins on the North and Central Halls first.

In its current form, the project will excise approximately 21,000 square feet of exhibit space to make way for the new executive offices and meeting room, which will be situated in the vicinity of the east end of the South Hall and near the eastern loop of the facility’s underground “people mover” transit system, previously installed by Elon Musk’s Boring Company.

The Convention Center’s façade is also being refreshed, and will take its visual cues from the $1 billion West Hall, which opened last year; construction is anticipated to start after the conclusion of the ConExpo-Con/Agg construction equipment trade show in March 2023.

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 – In order to assist with the demand for housing options in Las Vegas, a new charter high school is being established that will focus on developing the construction-related skills of its student body, helping to churn out the next generation that will enable Southern Nevada to continue to grow.

A state board voted unanimously on Monday to approve the Southern Nevada Trades High School, which is currently slated to open in East Las Vegas for its first-ever semester in August 2023.

However, as unique as this concept may sound, it’s actually not the first institute of learning of its kind to appear in the state; the Washoe County School District is partnering with East Las Vegas to open the new school, based on the success of their own home-grown program. The Reno-based ACE High School, has already managed to turn out a large number of impressively-skilled students who are ready, willing and able to pursue a career in construction.

Due to accolades showered upon their Reno forbearers, Southern Nevada Trades High School will be modeling its curriculum upon ACE High School’s, which will also be offering their educational offshoot extensive consultation and guidance.

The reasoning for the creation of an additional construction-focused trade school, according to Southern Nevada Trades High School Chair Brett Willis, is that developers in the state are sorely in need of qualified workers, now more than ever.

“It was identified several years ago that there are just thousands of jobs that we’re short. I know every day we’re out looking for those employees,” Willis said. “We’re a school that’s opening up that’s basically interested in helping kids combine academics with career, technical education. That means there’s gonna be hands-on projects.”

Southern Nevada Trades High School will accept up to 200 freshmen and sophomores when it opens next year, who will be taught by working professionals in the field with decades of experience.

For more information on ‘Building a Brighter Future’ with Southern Nevada Trades High School call them at (702) 758- 3512 of visit their website: https://www.snvtradeshighschool.org

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 high rents that many Las Vegas residents have been struggling with recently are expected to remain at their current levels for the time being, according to a new report.

The one-two punch combination of 40-year high levels of national inflation and increased interest rates brought about by the Federal Reserve’s several recent rate hikes – done in an attempt to curb inflation – have contributed greatly to the strain that’s hitting many Southern Nevada renter’s wallets, said Las Vegas economist Mike PeQueen.

“Rent is probably the single largest expense for anybody at this point,” he said. “While it’s a bad sign for the community, it’s not really unexpected because we’ve all watched with interest the last couple of years as residential real estate prices have increased. That is great for people that own homes. For people that rent residential units, it makes the price of living in residential units more expensive, and that over time does hurt a community.”

In addition to inflation and higher interest rates, the realities of supply and demand have also remained a constant factor; simply put, there are fewer apartments in Vegas than people who want to rent them, allowing some landlords and property managers to charge premium rates.

Also, the mid-2000’s recession saw a drastic reduction in the number of homes being built; that, coupled with another construction decrease during the COVID-19 pandemic, has resulted in a high degree of scarcity when it comes to residential homes. With that being the case, many prospective homebuyers are turning to rentals to tide them over, exacerbating the demand for them even more and correspondingly driving up rent even further.

Currently, the average rent for a 2-bedrrom apartment in Las Vegas runs $1,600 a month, with that number reaching as high as $1,800 in more affluent and in-demand places such as Henderson.

PeQueen notes, however, that rents will eventually drop down to more manageable levels once more apartments and houses are built in Southern Nevada and the national economy stabilizes; it will just take some time for that to happen, he said.

“Until we see lower interest rates, and a chance for developers to catch up with what’s in the pipeline of building already, we’re probably not going to see much relief on rents,” PeQueen said. “We have seen recently the rate of increase of rents in Southern Nevada has started to top out. So I don’t think they’re going to shoot up a lot from here, but we’re probably not going to see decreases in rent at this time.”

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.