With respect to yesterday's post regarding the demise of the Aqua Blue high rise condo project, Mike Dean - owner of M.J. Dean Construction - had a great quote in Hubble Smith's article in today's Review Journal:
"Condos are a Catch-22. You can't build until you sell, then you can't sell for what they're built for."
And isn't that the truth?
Dean's company is currently building the Sky Las Vegas and Panorama Towers and has been contracted by The Related Cos. for Icon, so he knows what the high rise condo business is like in Las Vegas.
Next time you look at an expensive price tag for a condo hotel unit, know that you're probably dealing with a developer that understands what it'll take to actually get their project built - and don't fall for that "Condos starting at the $130s" bait and switch.
Contact me or call at 888-778-2726 for an updated list on what I consider the 5 best projects in town at this point.
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