Less theme on the Strip in 2020 was proof that Las Vegas had matured…HOWEVER
Posted by Luxury Realty Group - February 6th, 2008
Categories: High Rise Condos
In 1989, Steve Wynn built an exploding volcano in the middle of the desert, more Las Vegas Strip themed hotels soon followed. In 2008, boutique luxury hotels and mega resorts were the name of the game…In 2020, is Sin City still unique?
You pop your head out of the limo’s sunroof while cruising down Las Vegas Boulevard in 2020. While inhaling the fresh desert air you fixate your eyes on the tall, shimmering, glass hotels. You gaze in awe at the world-class architecture that found its way to town just over 10 years ago. Las Vegas finally became a world-class destination, yet during the process, did it lose some of what made it unique?
Would Vegas be like without the:
- Grand Canal at Venetian?
- Pirate Ships at Treasure Island?
- Luxor pyramid?
- Volcano at Mirage?
- Statue of Liberty at New York New York?
Could these hotels be imploded by 2020?
From 99 cent buffets to celebrity chef restaurants
In 2008, reality set in that the Strip had truly evolved. That was the year that Las Vegas tied New York for the most overall AAA Five Diamond Awards (see full list) for restaurant and hotel properties. Since when was Sin City tied with a city like NY for the finest places to fine dine and get pampered at luxury hotels? Heck, even Chicago had fewer Five Diamond restaurants in 2008.
2008 was the year that the theme in Vegas really began to die while mega resorts such as Echelon by Boyd Gaming and CityCenter by MGM MIRAGE took center stage.
Clowns were beginning to lose face to sophisticated hotel brands such as Mandarin Oriental and Shangri-La.
Thrills of mingling with Hollywood Hotshots at trendy locations such as The Harmon Hotel and Mondrian became more exciting than mud wrestling girls and sipping cold beer.
Las Vegas Strip High Rise Condominiums
Up until 2007, land on the precious four-mile stretch known as the “Resort Corridor” had mostly been reserved for casino hotels. This allowed for easy implosion later down the road.
Sky Las Vegas was the first ever residential condo tower to change that trend. Units featuring balconies and views of the Las Vegas Strip attracted buyers to drop down deposits for vacation homes and even primary residences. The developers purchased the land for four million an acre in 2004. Its worth by 2008? Nearly 800% higher. How is that for a real estate investment? Not as exciting when you can’t implode and resell it. The individual unit owners sure do like it though.
While the media reported that condos were all over the Strip, the fact was that another condo tower with a LV Blvd. address wouldn’t open until almost 2010 when Veer Towers, Mandarin Oriental, Cosmopolitan Resort Casino, and The Harmon Hotel finished construction.
Even so, these buildings would be hard to later buyout and implode, much like that of a timeshare, due to individual ownership.
For those in 2020, lets keep the Strip diverse!
We all love seeing the Las Vegas Strip go high-end, but let’s not let it mimic other cities but JUST focusing on having the finest amenities, spas and architecture. While all of those items are extremely important, let’s not lose focus on what makes this destination so unique…the shock and awe of being able to see and do all kinds of varied activities.
A project that seems to carry Vegas on in 2020
KUDOS to Elad Properties for their soon to come The Plaza Hotel (get on our VIP Interest List). To me, The Plaza Hotel is a perfect compliment to the Strip. High-end? Absolutely. Yet still diversifying itself from all of the other glass towers going in. With its French Renaissance architecture, this resort seems primed to make a bold statement when it opens in 2012.
And those visiting Vegas in 2020 will still get a feel of what made this city unique!
Aaron Auxier, REALTOR® can be reached at 702-205-1818.
Luxury Realty Group is recognized by the press as a leading brokerage on the Strip. They can be seen on networks and in publications such as CNBC, Forbes Magazine, Details, LV Business Press, Wall Street Journal, The Review Journal, Los Angeles Times and USA Today.
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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.