Nationwide Lender Blacklists Condo Projects
7:53 PM | 
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SF Web Blogger
In Business March 5
Lenders such as BankUnited have elected not to lend to some areas because of declining prices and foreclosures. The South Florida Business Journal reported that Bank United drew up a non-permissible condominium-project list of 191 condo developments in Las Vegas and Florida that it wouldn't finance.
The list included such Las Vegas projects as Allure, the District, Manhattan, Newport Lofts, Panorama, Park Avenue, One Queensridge Place, Meridian at Hughes Center, Sky Las Vegas, Soho Lofts, Turnberry Place and Turnberry Towers.
Local brokers, however, said they haven't used the lender for high-rise loans and cited other options.
Lenders such as BankUnited have elected not to lend to some areas because of declining prices and foreclosures. The South Florida Business Journal reported that Bank United drew up a non-permissible condominium-project list of 191 condo developments in Las Vegas and Florida that it wouldn't finance.
The list included such Las Vegas projects as Allure, the District, Manhattan, Newport Lofts, Panorama, Park Avenue, One Queensridge Place, Meridian at Hughes Center, Sky Las Vegas, Soho Lofts, Turnberry Place and Turnberry Towers.
Local brokers, however, said they haven't used the lender for high-rise loans and cited other options.
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lenders mortgage on high rises
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Pinnacle High Rise Project Dead
Pinnacle Las Vegas, a high-rise condo project planned for the former site of Falconi Honda on Tropicana Avenue, has been canceled as reported in the real estate section of the Las Vegas Review Journal.
Las Vegas Vacancy Rate Goes Up
RISING VACANCY: Apartment vacancy in Las Vegas rose to 9 percent in January, up from 8.4 percent in December, CB Richard Ellis, a commercial real estate brokerage, reported. The breakdown by class shows 7.76 percent for Class A (28,082 units), 9.38 percent for Class B (42,000 units) and 9.67 percent for Class C (26,148 units) as posted in the Review Journal
Vantage Lofts Construction Halted
The RJ reported that Construction has stopped on Vantage Lofts in Henderson and the sales center is closed while Slade Development works out a new financing plan. Vantange expects financing will be in place within the next couple of weeks and then he'll proceed with construction. More as it breaks.
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vantage lofts las vegas
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