First residents to move into the nine story midrise units and 15 story high rise units should be near May 2008.
Juhl Las Vegas will include 13 live work condos and 346 unit high rise. Condominiums for sale will start in the high $400,000s. This development is expected to add vitality to the neighborhood.
The city of Las Vegas in 2004 was looking for a developer in 2004 to develop the 2.4 acres of downtown land. The land was purchased for about $5 million or $50 a square foot. There was a delayed escrow to allow CityMark to find construction financing and begin sales before the transfer of title.
As Juhl sold condos a portion of the price was held back.
Corus Bank of Chicago provided the mortgage financing for Juhl and Turner Construction is the general contractor.
The framing for Juhl Las Vegas high rise is at the eighth floor. There are four buildings of six, seven, nine and 15 stories. The flats seventh floor has been poured along with the roof for the live work units.
At the completion of the mixed use project there should be a total of 35,000 cubic yards of concrete used. All concrete work should be finished by the middle of September.
There will be a phased occupancy with the mid rise and high rise. The city has said that this phased “horizontal” occupancy as opposed to vertical will be the first for Las Vegas.
Juhl Las Vegas condos downtown mixed use real estate topped off.