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Hip Clubs and Swanky Restaurants Attract Las Vegas Condo Buyers

Some developers are trying a new tactic to entice buyers. Taking a cue from the boom in hotel condos, where developers combine residential units with hotel rooms, they are signing on big-name restaurants and chefs, opening trendy bars and building clubs on the property.

Las Vegas Allure condos is adding an upscale steakhouse to its project and planning to offer room-service-like delivery to residents. And although Vegas 888 won’t open until 2008, its developers are touting its 35th-floor nightclub, where owners and those who pay a hefty membership fee can sip cocktails while sitting in a pool and checking out sweeping views of the Las Vegas Strip.

“It’s meant to be as exclusive as the building is,” says Matt Brimhall, spokesman for Del American, which is building Vegas 888 condos. “It’ll have fire pits, outdoor rain showers — you can take guests there to have a drink and check it out.”

Developers say they’re turning to restaurants and nightlife to set themselves apart from competitors in an increasingly crowded high-end condo market. “There are about 4,000 units that are built or currently under construction within a few blocks” of the project. “We wanted to offer something different.”

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The Las Vegas real estate 3,000-room Cosmopolitan Condos Resort - with two towers of hotel rooms and condos and five stories of attractions - is a window into Las Vegas high-rise future.

While Las Vegas buzzes about other major high rises to open by 2010, the $2 billion hybrid Cosmopolitan condos is expected to open by New Year’s Eve 2008, becoming Las Vegas real estate first mixed-use development.

With glass-enclosed shops overlooking the Las Vegas Strip sidewalk, rooftop beach club and hotel towers looking like rock crystals, the Cosmopolitan’s flash-cube appearance will stand out like a New York socialite at a carnival.

In fact, the aptly named property, at the northwest corner of Harmon Avenue and Las Vegas Boulevard, will have more authentic New York flavor than the nearby New York-New York, with its faux art deco skyline and Statue of Liberty. (more…)

Who’s Financing Trump Tower Tampa?

Trump Tower Tampa, luxury condos for sale in Tampa, ground breaking happened three months ago on Ashley Drive in Tampa, Florida. And as the foundation nears completion and developers look to go vertical, two crucial questions remain: Who is going to build the 52-story Trump Tower Tampa condos structure and where is the money coming from?

Those questions have been asked in abundance by observers, even fueling speculation once again that the $225 million Trump International project is in jeopardy. Ask anyone at SimDag LLC, the company partnering with The Trump Organization on the tower, however they’ll say there’s nothing to worry about.

“You’ve got to remember that the sales response for this luxury condominium project, even after (a unit price) increase, has been phenomenal,” said David Hooks, spokesman for the Trump Tower project. “The foundation work is continuing, and because of that, there’s an opportunity to improve the terms of the financing being negotiated. The developers are taking that opportunity to finalize the best terms possible.” (more…)

Pinnacle Las Vegas Condos And Resort

Pinnacle Las Vegas Condos Resort, an 1,100 unit project, will be managed by Interstate Hotels and Resorts.

Pinnacle Condominium Resort is a twin-tower, 36 story development currently in presale with ground breaking set for this fall and completion in the second quarter of 2009.

Arlington-based Interstate Hotels and Resorts (NYSE: IHR) says it is the largest independent hotel management company in the nation.

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