Cancelled Projects Decrease Inventory and Increase Demand
6:31 PM | 
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SF Web Blogger
Well, we have Related cancelling Union Park and Icon, Ivana + Liberty Towers falling out, The Hard Rock seemingly cancelling and the W Residences possible lawsuit causing issues suddenly we don't have the inventory we thought...
MGM Residences, Trump, Sky, Panoramic, Cosmo, Metropolis, Manhattan LV and Turnberry Place and Towers should be in demand.
There are many projects on deck such as Vegas888, Sandhurst, Renaissance, Standhi, Palms, Las Ramblas but none have stepped into the batters box - YET.
We will see how this all shakes out in the coming months.
Olivia
Hard Rock Halts Sales on Condo Project
Thursday, Peter Morton revealed the planned $1 billion condo-hotel expansion of the Hard Rock Hotel has been postponed. Buyers are being offered a refund on their deposits.
The sales center closed and all sales staff have been let go for the Bungalows, Flats and Residences.
Morton said he has received offers to buy the Hard Rock. The expansion on 24 acres behind the hotel, now the site of an apartment complex, would be included in that transaction.
Industry experts estimate the Hard Rock to be worth $750 million to $900 million, including the $86 million apartment property.
The project, designed by architect Chad Oppenheim of Miami with Las Vegas-based Marnell Corrao as the general contractor, was supposed to break ground in August.
This project seems on the fringe but what if the Hard Rock dosent sell?Will the projet move forward?
Stay Tuned!
Olivia
Another Casino Coming to South Las Vegas Blvd
The southern end of Las Vegas Boulevard is going to get even busier. Southern Highlands developer Garry Goett just won approval to be build a few miles south of the new South Coast Resort.
The first phase was approved for 1,400 rooms. There will be a second tower with 1,000 rooms and eventually a hotel-condo project.
Olympia is scheduled to break ground sometime this year, and the first phase is expected to be completed by the end of 2008.
The Strip growth is not slowing down.
Olivia
Hard Rock for Sale?
A company executive said,” The Company has determined that it will explore a potential sale."
The Hard Rock Hotel Inc is a privately held company, with 140 million in publicly traded bonds.
Again, stay tuned.
Investor sues developers of Las Vegas Condo-Casino
Brian Roche says developers of the W Las Vegas squeezed him out of plans to build a two-point five billion dollar luxury hotel, condominum and casino complex.
Stay tuned...
Pinnacle Condo Project - 850 Million Resort
The project features two 36 story building connected by three "Sky Bridge" Suites. The renderings are pretty incredible.
The project is being developed by the Falcon Group with is an alliance between other investors and developers.
The project started sales as of Feb 14th and range in price from $350k to $1.3 million.
Call me today if you need more info or want to reserve a unit
Olivia
W Residences in Las Vegas - News
Starwood Hotels & Resorts Worldwide and Edge Resorts as well as a group of investors purchased 21 acres of prime property to develop this project on.
The W Las Vegas will offer owners a combination of poolside cabanas, studios, one-two condominiums with the benefit of being attractive to the W Hotel.
Units are scheduled to be available to the public early 2006 starting at $550,000.
This is going to be one of the premier properties in Las Vegas. Don't miss out.
Call me today for more info or to reserve a unit.
Olivia