Pinnacle Las Vegas High Rise Condo Project Announces Groundbreaking Timeframe "Unofficially"

It's unofficial, because you had to attend their private realtor luncheon at the Capital Grille in the Fashion Show mall to find out, but if you're not doing anything... say October 17th or so... you may notice a groundbreaking ceremony taking place on the Pinnacle Las Vegas' 12-acre property the developer's already own free and clear!

The luncheon provided some really interesting information - including the planned 5% price increase in mid-September. Whether it be for personal use or for a "condo-resort" application for investors, this project's shaping up to be a major winner from just about every perspective.

The Falcon Group's development team is unsurpassed and includes the likes of Youngblood Wucherer Sparer Architects, Marnell Corrao Associates, Attanasio Landscape Architecture, CLEO Design, and Interstate Hotels & Resorts. Visit those websites - we are talking about a very solid development team here.

If you want to feel safe making a Las Vegas high rise condo purchase, I'm convinced you won't do much better than the Pinnacle. Their sales team will be doing priority presentations, so register now before the price increase or contact me if you have any questions.

Station Casinos Pulls Out of Red Rock Residences High Rise Condo Partnership

For those of you that don't live in the Las Vegas area, Station Casinos practically corners the "locals" market in this town. They've recently opened the Red Rock Resort, and planned to join forces with timeshare developer Stephen Cloobeck and condo builder Steven Molasky to build two high rise condo towers at their Red Rock property.

However, Stations has dissolved the partnership but still plans on moving forward with The Residences at Red Rock on its own, which calls for 600 condo units with a completion date sometime by early 2008. The initial agreement had Stations owning 80% of the joint venture.

Could a lawsuit by the Cloobeck Molasky Group be far behind?

Right now, Stations isn't taking reservations and pricing hasn't been determined yet, but if you'd like to stay up-to-date on the status of this upcoming project, send me your contact information and I'll put you on the interest list for this property. The artist's rendering of the project looks great and if it's going to be anything like the Red Rock Resort, you'll definitely want to check this one out.

Club Renaissance Downtown Las Vegas High Rise Condo Project All But Dead

What does it mean when an answering machine constantly picks up during business hours at a high rise condo project in Las Vegas? And what can one conclude when one drives by the sales office only to find it continually closed?

Well, it doesn't look good for the Club Renaissance downtown high rise condo project. All that's missing is the official notice in the Las Vegas Review Journal that the project's been cancelled. It looks like they're still taking reservations at their website, but I'm pretty sure at this point that's all for naught. Don't waste your time.

Originally intended as a "locals" project, pricing came out very "un-local" friendly. That, and the lack of groundbreaking progress, was the first clue that this project was in danger. But fear not: Club Renaissance is far from your only downtown high rise choice. And most definitely, there are downtown projects that are bargains TODAY!

As mentioned previously many times, Juhl Las Vegas is a winner. So is the Streamline Tower. And both Soho Lofts and Newport lofts have been complete successes to date as well.

If you had a reservation at Club Rennaissance, I would suggest you seriously look into Streamline at this point. They've got a very similar project - and it's actually moving forward construction-wise with move-ins anticipated for December '07.

Info on the Menu at the Pinnacle Las Vegas High Rise Power Lunch

The Pinnacle Las Vegas high rise condo project will be holding "Power Lunches" for real estate agents from August 21st through September 1st at the Capital Grille in the Fashion Show Mall in Las Vegas.

This is a perfect opportunity to interact with the project developer and key members of the Pinnacle's development team. So if there's anything about this project you want to know, contact me with your toughest questions, and I'll make sure you get answers.

In this highly competitive high rise market in Las Vegas, it still amazes me that not all high rise projects stage events such as this to better inform local agents, who after all, are a big factor in the success of a high rise project.

My Favorite Las Vegas High Rise Condo Headline

The Sunday, July 23rd, 2006 Real Estate promotional section of the Las Vegas Review Journal has one of the most amazing headlines I've read in a long time:

"Survey shows real estate pros optimistic about market"

Really? Real estate agents where surveyed and they all were optimistic about the market. That's amazing. What's next? - "McDonalds Says Hamburgers Provide Daily Energy" or "Starbucks Employees Surveyed Claim Drinking Coffee Prevents Disease".

Surveys can basically manipulate data to reach any conclusion the author has in mind. When you really break it down, to say a survey of real estate agents means anything regarding real estate is ridiculous as bias almost certainly affects their responses. What real estate agent is going to tell you not to buy real estate?There's only one industry I can think of that markets the message not to buy their product and that's tobacco. All the cigarette companies must remind you that smoking is hazardous to your health. But real estate agents?... earning a living selling real estate is hard enough - they're probably not going to admit to making it any harder.

And who are these people that respond to surveys anyway? I've been around for awhile, and know a lot of people who have been around for awhile, yet none of us have ever responded to surveys. Most of us are too busy working. I put almost zero credibility in survey results. I prefer to look at what's happening in the real world.

The real world Las Vegas high rise condo marketplace couldn't be any clearer: the established and experienced developers are continuing to develop quality projects at the expense of the inexperienced ones who are dropping by the wayside.

It does't take a survey to figure that one out.

MGM Announces CityCenter Realty to Sell Their Newest Las Vegas High Rise Condo Development

It was just a matter of time, but Las Vegas-based MGM Mirage just formed a condo sales company called "CityCenter Realty" to oversee sales of their 2,800 luxury condominiums at its Project CityCenter development.

Previously the CEO of Coldwell Banker Premier Realty, Bob Hamrick now becomes the corporation's new senior vice president with Grant Murray serving as vice president of sales. Murray was the former sales director for Concord Pacific Place in Vancouver. Rounding out the newly announced team is Anna Houssels, who will serve as the director of sales.

The 76-acre 18 million-square-foot, hotel, residential, and entertainment undertaking - with a reported pricetag of $7 billion - officially broke ground on June 26.

Chicago-based Murphy/Jahn Architects is designing two leaning glass towers, combining for 810 units; Rafael Vinoly Architects of New York is doing a 50-story ebony tower with 1,543 units; New York-based Kohn Pederson Fox Architects' Mandarin Oriental Hotel and Residences will have 215 units; and The Light Group's tower will make up the remaining units.

While the sales center will open in January 2007, Project CityCenter is tentatively scheduled to finish by November 2009. It'll be here in no time. If you're not currently on the interest list for this project, definitely e-mail me with your contact information and I'll make sure you get first crack at reservations once they become available.

Savor the High Rise Condo Lifestyle at One Las Vegas

I just received an email newsletter from the folks over at the One Las Vegas high rise condo project which contained photos showing construction going full steam ahead with Tower 1 hitting Level 4 already. With delivery of the first 2 towers expected in the fall of 2007, this 19.5 acre development project continues to look like a winner.

One is being built with a partnership between Las Vegas based developer AmLand Development and global developers The B.S.R. Group. With 100% construction funding from Corus Bank in Chicago, plus strong pre-sales and attractive pre-construction pricing, the whole team at One continues to change the South Strip skyline with their combined experience, capital, and creative vision.
If you want to get the most "bang for your buck", consider a South Strip condo. And if you're looking high rise and a relatively quick move in date, One's the one for you.

Construction Progress on Allure Las Vegas Puts High Rise Condo Project in Good Shape

Having recently toured the Allure Las Vegas high rise condo project currently being developed on Sahara Avenue, just west of Las Vegas Boulevard, it's become quite clear that Allure unit-holders have a lot to look forward to. Substantial progress has been made on the construction of this project.

The two 40-story towers are being developed by Chicago-based Fifield Cos. and the 400-unit first tower is currently 90% sold out. I had an interesting call from a client who wanted to purchase a high rise unit, but didn't want to wait until 2008 to move in, which immediately drew my attention to the Allure project, where move-ins are expected towards the end of 2007.

Believe it or not, most of what's available for purchase is upper units. It's hard for people to spend upwards of $1M on something they can't see or feel, but when walking tours are ready, the views from this building will sell themselves. Originally priced from the $300K's, Allure's units feature high ceilings, granite counters, Italian cabinets, marble flooring, and stainless steel appliances.

If you're looking to purchase a Las Vegas high rise condo and looking to move in relatively soon, Alure's got some awesome units. My favorite availability is a 1,532 square foot, 2 bedroom/ 2 bath corner unit on the 26th floor, featuring TWO 148 square foot balconies for $780,000. That's only $509 per square foot!! I call that value. Try to find that anywhere else in town size-wise, floor height-wise, and for the view it buys.

First come , first serve... Who wants it?

Construction Progress at Juhl Las Vegas Condos

As we mentioned previously, the Juhl Las Vegas condo project in downtown Las Vegas has broken ground and construction continues to move along nicely. Here's the latest photo as of 8/3/06:

There's still time to take advantage of the continuing success of the World Market Center by purchasing a unit in Juhl. And for those who have already purchased, sit back and enjoy - you made a smart move!

The Best Way to Invest in Preconstruction High Rise Condos

There's strength in numbers. And when an organization steps up to a developer offering to buy 30% or more of his project's units, the developer listens.

For the past few months, I've been doing research on condo buyer syndicates and I've finally found such an organization with a documented track record of success investing in high rise condo projects nationwide. By leveraging relationships and using volume purchasing, this group offers its Joint Venture Partners pre-construction contracts with favorable terms typically not available to the general public. Most times, you won't even have to close.

By constantly researching markets and opportunities and providing high rise condo investors with excellent returns with very little risk, they provide the perfect solution to the high rise condo investor who maybe may have cold feet about taking the high rise buying plunge on their own. And because you're only presented with best case buying opportunities, you're not subjected to biased sales presentations by the individual developer's marketing teams or sales agents.

In short, this group has developed a resource where the condo developer and condo buyers can partner together to create a win-win situation - regardless of market conditions! Hands down, there's no better way to invest in high rise condos.

Your profit is built in. There's very little risk. And, you never have to actually close on a unit! If you're considering investing in the high rise condo market, whether in Las Vegas or elsewhere, I urge you to fill out this form for more information on how you can joint venture with this group and achieve the profitable results you probably would not attain on your own.

The MGM Grand Residences Las Vegas High Rise Condo Hotel Project is Going... Going... almost Gone

Their unit availabilites, that is. Time is running out for you to purchase one of the few remaining units in perhaps the best project not just on the Las Vegas strip, but in the entire town.

Tower A is sold out, staffed, and ready for occupancy. Tower B is sold out and under construction. Tower C is 80% sold out and under construction. Hands down, no other project in town boasts this kind of progress and productivity.

The Residences at MGM Grand offers a home away from home for those desiring a turnkey lifestyle with luxury amenities. Prices from $650,000, the Residences come fully furnished with amenities including a 24 hour front desk and concierge service, in-suite dining, guarded security entrance, fitness center, swimming pool complex and lounge, and best of all, access to all of the MGM Grand's world-class amenities in the hotel.

With so many "what-if"s high rise condo hotel projects in this town, you can't go wrong with this one. Contact me today and I'll arrange a tour for you to see how amazing this project really is for yourself.

The Oldest Trick in the Las Vegas High Rise Condo Book

The high rise market as a whole loses credibility when one of their projects fails, runs into trouble, or gets bad press. One of the best indicators of a project's overall feasibility is whether or not they have broken ground and started construction. When that happens, the project pretty much goes from "uncertain" to "solid" status.

Developers know that, so what happens sometimes is they start construction with their own money, but just don't do too much other than an official groundbreaking. This way, they can get more buyers interested in their projects so they can then approach lending institutions with a higher percentage of "pre-sales" which increases their changes of obtaining the desired financing.

If you need 50% presales before a bank will lend, and you only have 40%, a developer may take the chance of starting construction while hoping to get the other 10% right away. Sometimes that strategy backfires, in which case lawsuits are filed and liens get attached to the project by angry contractors who don't get paid for the work they have performed.

It's the oldest trick in the high rise condo book and one that seems to have caught up with the Spanish View Towers project and teaches buyers a valuable lesson. One of the more important things a buyer should look for in their purchase contract is the delivery date promised by the developer and a timeframe where the buyer would be entitled to get their money back should that delivery date not be met - or delivered not as planned.

While buyers probably can't successfully sue to force a project to be completed, understanding what will happen based on project delays will definitely save you time and money should an unfortunate situation develop.

The South Strip is Hot for Las Vegas High Rise Condo Development

MGM Grand is arguably the most successful and influential high rise development company in Las Vegas. With the continued success of their MGM Grand Residences high rise condo hotel development and with all the positive press regarding their $7 billion dollar Project CityCenter, you'd have to agree they're the experts in the Las Vegas market. So when you hear they're interested in developing 2 luxury high rise towers and 2,500 condos on the South Strip, investors better take notice.

While MGM officially hasn't annouced either proposal, the Clark County Planning Commission is expected to approve their plans for both "The Place at Mandalay" (a 520 foot tower containing 1,344 high rise units just steps away from the Luxor's pyramid) and plans for two additional high rise towers behind the MGM Grand's present location. The new towers would add 1,152 condos to the 1,700 high rise condo hotel units currently under construction at The Residences.

Add to that the 1,650 condos planned for Project CityCenter and it's obvious MGM Grand's betting big on the South Strip condo development market. With the 831 acres of Strip property they own, they're making a pretty loud statement, and that statement is this: the high rise marketplace in Las Vegas is still in it's infancy. Investors heeding that advice will make out quite nicely in the future.

While the Las Vegas market for single-family homes has definitely slowed up, county planners obviously see no indications that the demand for luxury condos on Las Vegas Boulevard is waning. If it's good enough for MGM, it's good enough for all of us.

Register For The Central Las Vegas High Rise Condo Priority Preview

Here's a quick video describing what you can expect when you register for the Las Vegas Central high rise condo project's "Priority Preview" presentation.

If you're in the market for a Las Vegas high rise, The Central project is a must view, if for nothing else than comparison purposes with other projects. The knowledge you'll receive at this event will certainly help your high rise decision making. Register now to attend and get a glimpse of Las Vegas' newest "City Within a City"