Last night, I was invited to participate in a panel discussion held at the Desert Passage in the Aladdin regarding downtown Las Vegas high rise condo developments and how the market is progressing in general.
Many interesting ideas and suggestions where presented by the 15 or so participants including ways high rise developers can better interact with real estate agents, what needs to be done to market downtown Las Vegas better, and what are buyer's pre-conceptions of the Las Vegas market. Some excellent points were made and my overall conclusion is that downtown Las Vegas offers investors and owner-occupants tremendous opportunity in the future. As the urbanization of downtown continues and it gradually gets cleaned up and revitalized, those purchasing quality properties should be rewarded in the upcoming years.
The World Market Center already has been a tremendous success and has given a great boost to the downtown projects. Soho Lofts has started move-ins and construction on their sister property - Newport Lofts - is moving forward without a hitch. Juhl has broken ground and the construction you see at the Streamline Tower is extremely promising.
The fact that a downtown project would take the time and financial outlay to commission a panel discussion of this sort tells you that successful developers care about the input of the real estate community and its buyers.
As mentioned in an article in the New York Times, downtown Las Vegas is stepping up to the table. For the everyday, small investor, downtown Las Vegas may be the place to be. I would suggest very strongly looking into the Streamline Las Vegas condo project.
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