Since Wynn did the north end of the Strip go high-end?

Posted by Luxury Realty Group - February 1st, 2008
Categories: High Rise Condos

Steve Wynn, thanks to his forward thinking, has taken the focus of high end Las Vegas real estate and hotels to the north end of the Resort Corridor.

In the past, hotels near Circus Circus were considered to be old and have cheap room rates. At the north end of the Resort Corridor, you could stay and get a bargain at: Stardust, Circus Circus, Riviera, Sahara, or the New Frontier Hotel and Casino.

Well those days may be coming to an end. Over $20 billion worth of new construction, including mega resorts and luxury residential and condotel high rise condominium properties are changing the landscape between Spring Mountain and Sahara Blvd. into prime location real estate.

As a matter of fact, there is nearly twice the amount of construction happening in the north section of the Las Vegas Strip as there is near MGM MIRAGE CityCenter and the Cosmopolitan Resort Casino.

Moving forward, will you be able to get a better hotel room bargain near Excalibur or the Tropicana than you will near Circus Circus? What about Luxor?

The south section of the Strip better not let itself get too old. With mega resorts on their way, could the corner of LV Blvd. and Trop become an afterthought in high roller’s minds?

$20 Billion in Mega Resorts on the way to North

$5 billion Echelon by Boyd Gaming replacing the Stardust.
$1 billion Palazzo luxury condos coming near Venetian (VIP reserve list)
$3 billion Fontainebleau coming just west of Turnberry Place.
$6 billion The Plaza Hotel starting construction (VIP reservation list)
$? billion MGM MIRAGE and Kerzner International project at Sahara.

Revitalized Tropicana

New owners, Columbia Sussex plan on adding four new towers to the Trop totalling 10,000 rooms. The $2 billion makeover for the 34-acre parcel of land looks promising. The plans call for the original hotel to remain standing.

Will this renovation be what the corner needs to keep it up to par with the new high end boutique Sin City? We shall see.

Geez…Sky owners must be thrilled

The Clark County Assessor recently released (January 2007) their new Strip land values. Their report shows that the land under the Sky Las Vegas residences had an increase of 59% in 2007. While the media keeps reporting doom and gloom, the Clark County Assessor’s numbers show that the Strip is the one area holding its own. The funny thing is? The listings in the building are reflective of what the land cost four years ago, $4 million an acre, while today its value is close to $30 million.

Email us to set up up on an MLS search for resales at Sky Las Vegas including one, two, three bedroom units and even a rare multi-level penthouse with balcony and Strip views.

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.

We use Copyscape.com to monitor plagiarism.

Disclaimer: All information in this blog is subject to change without notice. Subject matter is not guaranteed and is often times considered time sensitive.

Luxury Realty Group, can be reached at .
Learn More About This Author.

All information in this blog is subject to change without notice. Subject matter is not guaranteed and is often considered time-sensitive. See DISCLAIMER.

Las Vegas High Rise Blog

Since Wynn did the north end of the Strip go high-end?