Redesign gives new look to Las Vegas Central
40-story high-rise condo project will still have 1,000 units
By HUBBLE SMITH
REVIEW-JOURNAL
Feb. 20, 2006
Copyright © Las Vegas Review-Journal
Las Vegas developer Bruce Langson has redesigned his Las Vegas Central high-rise condominium project on Sierra Vista Drive, reducing the height from 52 stories to 40 stories to meet Federal Aviation Administration requirements.
The project will still have 1,000 units with floor plans ranging from 670 square feet to 1,400 square feet and prices from the $300,000s to more than $2.5 million. Langson first advertised high-rise condo living at $139,900, but only two units were sold at that price, he said.
The project, on five acres south of the Las Vegas Convention Center, is planned to include 105,000 square feet of commercial space, 11 restaurants, a rooftop lounge, boutique shops and convenience services.
The retail space will include a 16,000-square-foot gourmet grocery store.
"Our goals and objectives have not changed," Langson said. "We've been delayed 10 months by the FAA and the redesign."
Langson estimated construction costs in the neighborhood of $600 million and said he's working diligently with Tutor-Saliba, a general contractor founded by Perini Corp. Chairman Ron Tutor, to nail down a guaranteed maximum price.
Langson said he has a number of lenders interested in financing the project, but he's negotiating only with the bank that originally approved his financing. So far, he's invested $5 million of his own money in design and planning.
Jerde & Associates, a Los Angeles-based architectural firm that worked on Bellagio and Wynn Las Vegas, did the preliminary design work. JMA Architectural Studios of Las Vegas is doing the interior design.
MORE SHOPPING: Las Vegas-based commercial developer Territory is starting work on the 50,000-square-foot second phase of Southern Highlands Marketplace at Cactus Avenue and Decatur Boulevard, which turns into Southern Highlands Parkway.
Tenants for the second phase include a 17,000-square-foot Ace Hardware, Wells Fargo Financial Services, Fitness 19, H&R Block, Tropical Smoothie and American Family Insurance. The first phase is anchored by a 58,000-square-foot Smith's Food and Drug and Walgreens.
Sandberg Group Architecture designed the project; Oakview Construction serves as general contractor. Completion is expected in the summer.
BIG SELLER: The master-planned Mountain's Edge community in southwest Las Vegas Valley claimed its 1,000th home purchase on Jan. 19 when Steven Hamm bought a Meritage home.
With 2,179 new home sales contracts and 827 closings in 2005, Mountain's Edge is the fastest-selling community in Southern Nevada, said Ron Rulof of research firm Team Power Marketing.
If you are planning to relocate in the Las Vegas area, contact us for a prompt response to any questions you have about the Las Vegas real estate market. We invite you to visit our website to view updated daily listings of Las Vegas homes at Free Las Vegas Homes MLS Search
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