Learning from the mistakes of many Las Vegas high rise projects that have already failed, many of the newest high rise projects that have recently announced sales have waited until they were longer down the line of the construction cost process before starting to sell their units to the public. Developers seem to have gotten a lot smarter by first getting the contractor's construction costs and negotiating guaranteed maximum price contracts to see if their idea is realistic before setting price points on their projects.
First, Turnberry was built and was successful. Then a whole slew of projects got announced, while some were canceled giving the market somewhat of a black eye. But now these newest "third wave" projects are making the Las Vegas high rise condo hotel market very interesting again. They seem to be being developed with a sense of viability instead of just throwing marketing dollars to a receptive public before the entire project got thought through.
Financial capability and proven experience make an excellent pair. You're seeing a lot more of that right now. The Las Vegas high rise condo market is back! - so tell me what your current high rise investment goals are, and I'll help steer you in the right direction.
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