Mammoth crane helps construction of Spanish View Tower

Jan. 30, 2006
Copyright © Las Vegas Review-Journal
By HUBBLE SMITH
REVIEW-JOURNAL

The largest crane ever employed in the southwest Las Vegas Valley is building Spanish View Tower high-rise condos on about 15 acres near Buffalo Drive and Las Vegas Beltway.

The 285-foot crane is working on the first of three 18-story towers with 444 luxury units.

Excavation to about 40 feet is almost complete for three levels of underground parking and six feet of rebar is in place for the pouring of the foundation, said Billy Mays, senior project manager for Canadian-based general contractor Ledcor Construction.

The entire project will require 169,000 cubic yards of concrete, he said.

The first tower will top out at 245 feet, offering unobstructed views of the Strip and Red Rock Canyon. Completion is scheduled for spring 2007.

Developer Rod Yank of Tower Homes said the project will cost more than $300 million and is primarily financed by hedge funds in New York.

With units priced from about $800,000 to more than $6 million, Spanish View Tower is "definitely going to provide a pampered, high-society lifestyle," said Jeannine Cutter, broker for Prudential Americana Group. "With concierge service and limousine service, it's an all-around lush lifestyle. We'll take care of a burned-out light bulb."

She said the first tower is more than 60 percent sold, with nonrefundable deposits in escrow, and reservations are being taken for the second tower.

Some of the buyers are doctors and medical specialists from three hospitals in the area, including the St. Rose Dominican hospital scheduled to open later this year, Cutter said.

In addition to custom quality finishings in the units, Spanish View Tower will have a fitness center, beauty salon and European-style spa, business center, two enclosed pools, two dog runs, one-mile jogging path, tennis courts and putting greens.

OFFICE PARK: SR Construction has broken ground on a two-story, 40,000-square-foot office building for Republic Mortgage in The Park at Spanish Ridge, a development by Glen, Smith & Glen in the southwest valley. The project cost is estimated at $11.5 million.

VEGAS CONTRACTS: Norwalk, Conn.-based EMCOR Group is doing electrical and low-voltage systems for the 1.6 million-square-foot World Market Center in Las Vegas as part of the company's estimated $200 million in revenue for new commercial contracts.

EMCOR is also working on mechanical and plumbing systems for the 65-story Trump International condo-hotel tower in Las Vegas, including a 2,700-ton central air conditioning plant, and for two, 20-story towers and a 700,000-square-foot low-rise at Red Rock Station hotel and casino.

RETAIL STORE: General Design and Construction of Las Vegas recently finished building the 1,875-square-foot Fast Frame store at Fort Apache Commons, including new plumbing and electrical systems, buildout of walls and bathrooms, new flooring and ceiling. Project cost was $110,173.

APARTMENT SALES: The Bentley Group of Las Vegas reported sales of the 12-unit Sunrise Springs apartments at 2400 Sunrise Ave. for $650,000, or $54,167 a unit, and the 480-unit Cayman Bay apartments at 2701 N. Rainbow Blvd. for $46.3 million, or $96,458 a unit.

Built in 1959, Sunrise Springs in East Las Vegas offers the new owner an opportunity to capitalize on the strength of the rental market while providing needed affordable housing for Las Vegas, said Mike Gallegos of The Bentley Group, who represented the seller.

TRANSACTIONS: Donna Alderson and Greg Tassi of CB Richard Ellis represented Prologis Trust in the seven-year lease of 118,200 square feet of industrial space in North Las Vegas to Interex of Nevada. The transaction is valued at $3.6 million.

Karolina Janik and Shalonda Hughes of CB Richard Ellis represented Barlow Development in the purchase of 3,640 square feet of industrial space from Truck Parts and Equipment Co. in North Las Vegas. The transaction is valued at $2.8 million.

Kevin Higgins of Voit Commercial represented Eastern 17 in the sale of a 35,000-square-foot building at 6721 S. Eastern Ave. to Pro Stage West for nearly $3.2 million. He also represented the seller of a 9,000-square-foot industrial building at 5041 W. Diablo Drive for $1.7 million.

Judi Woodyard of Commercial Associates represented GEICO in the three-year lease of 1,835 square feet of office space at 701 Bridger Ave. Value of the lease is $156,562.

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