Trading in high gas prices for a high-rise condo - Current issues at the pump remind us what vertical living is all about.
Posted by Luxury Realty Group - June 23rd, 2008
Categories: High Rise Condos
Remember what made residential high-rise living so appealing to begin with? Convenience. And over the past few weeks, the prices at the gas pumps have gotten way out of hand. Not convenient. People are carpooling, driving less, or just plain out staying closer to home. Today, I was talking to some friends of mine who live in a Las Vegas high-rise condominium project as they joked about how their elevator is their freeway.
Think about that for a minute, using an elevator as a freeway. Once the eco-friendly, sustainable MGM’s CityCenter opens in late 2009, how many people will want to make it their primary residence? With over 10,000 jobs expected to be created at CityCenter once it opens in late 2009, it’ll be interesting to see how many of those looking for employment at CityCenter will try to live on site. A studio, one-, or two-bedroom floor plan at Veer Towers seems like the perfect compliment to a single person, couple, or roomates who work at properties such as ARIA Resort & Casino, The Crystals, MR CHOW, Cirque du Soleil, Vdara Condo Hotel, etc. The sustainable aspect of the approx. $9.2-billion mega-resort should also entice those looking to save money on pwer, heating, air, etc.
The friends I was talking to (that sparked the idea for this blog) actually live at Sky Las Vegas (the only current high-rise condo property open on the Las Vegas Strip). The conversation came up when they mentioned they were going downstairs to the CVS Pharmacy to pick up some water and other household items. Sky Las Vegas has a CVS Pharmacy, along with racquetball, fitness center, screening room, three pools, spa, putting greens, bark park, bbq’s, cabanas, business center, and many other amenities on its lower floors. Not only did my friends save money on gas, they also did the environment a favor.
While the media has insisted that Las Vegas is loaded with high-rise condominium properties, the truth is very few “residential” towers currently exist on or near the Strip, with Sky Las Vegas being the ONLY current high-rise condo tower on the Strip (condotel or residential). Bet you didn’t know that did you?
Read the blog The REAL Inventory Numbers for under-construction high-rise condos in Vegas as of June 2008 Here.
Not until almost 2010 will the Strip add more residential condo properties and that is when Mandarin Oriental, Veer Towers, and The Harmon Hotel, Spa & Residences open. Another property that is expected to open around 2010 or beyond is the ultra-high end Venetian Palazzo Luxury Condo development.
The five main current high-rise condo properties open near the Strip as of June 2008.
- Turnberry Towers
- Turnberry Place
- Allure Las Vegas
- Panorama Towers
- Park Towers
Want to learn building locations?
See a Las Vegas Strip Condo Map Here.
What is really happening, even when you read so much doom and gloom.
Buyers are taking advantage of numerous resale opportunities in residential properties such as Panorama Towers and Turnberry Towers. Talk about convenience, when CityCenter opens its doors in late 2009, owners at Panorama Towers will live just across the I-15 from nearly $15 billion worth of restaurants, entertainment, retail, art, shows, and attractions (CityCenter, Cosmopolitan, Bellagio).
So what floor are you going to?
Call me, let’s talk about it. I can teach you the intangibles of this niche real estate market.
Aaron Auxier REALTOR®, ABR can be reached at 702-456-7080 x201
Copyright © 2008 Luxury Realty Group. All Rights Reserved.
Disclaimer: All information in this post is subject to change without notice. Subject matter is not guaranteed and is often considered time-sensitive.
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All information in this blog is subject to change without notice. Subject matter is not guaranteed and is often considered time-sensitive. See DISCLAIMER.
Copyright © 2008 Luxury Realty Group LLC. All rights reserved.