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Tuesday, October 04, 2005

Las Vegas High Rises to Serve As Casino Communities

The Las Vegas high rise condo hotel market is moving towards the "casino community" concept rather than just stand-alone residential buildings said a real estate industry expert.

If you real this blog often, you'll see he referenced one of my favorite upcoming projects too. In his keynote speech at this year's Society of Industrieal and Office Realtors (SIOR) real estate symposium, Richard Lee, vice president of First American Title Co. said the following regarding the MGM Mirage Project City Center:

"It's the most ambitious project of its kind. The first phase is a planned 18 million square feet which will include hotels, condos, time shares and a retail component."


Lee also mentioned that there is more than $50 billion in planned and under construction projects along the Strip and radiating out on both sides of Interstate 15, but until a project is under vertical construction, it is debatable as to whether or not it will happen - and we couldn't agree with him more.

Other planned projects Lee noted as casino communities are the Hard Rock and its complex of planned condo units and the $3 billion Las Ramblas, a partnership between Las Vegas-based development group Centra and the Related Cos. that will include a casino as well as a spa, health club, dining and shopping.

Don't wait any longer to find the community that best fits your needs.

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