LAS VEGAS REAL ESTATE | HOMES FOR SALE IN LAS VEGAS | LAS VEGAS NEW HOME

Liens against real estate developer pile up halting condo progress in Las Vegas.  Economic downturn and improper construction has stopped construction on this $350 million ManhattanWest Las Vegas mid rise real estate development.

Problems arose for ManhattanWest last August. During this time the general contractor Camco Pacific replaced Apco Construction.

Continue reading Liens Against Real Estate Developer Pile Up Halting Condo Progress

Purchase of Treasure Island Las Vegas hotel for $775 million approved by the Gaming Control Board. The Board didn’t take long to ok the real estate transaction by Phil Ruffin.  Final ruling will commence on March 19, 2009 and 11 days later it will close with approval.

Terms for the commercial real estate deal will start with $500 million due to MGM Mirage at closing.  Another $100 million will be payable in six months.  Finally, $175 million balance due in two years with a 10 percent interest rate.

Continue reading Purchase Of Treasure Island Las Vegas Hotel For $775 Million Approved

Station Casinos Las Vegas casino operator skips $15.5 million debt payment this week on their commercial real estate.  According to the Securities and Exchange Commission this is the second time this month Station Casinos has missed a payment.

A lawsuit was filed last week against Station Casinos which stated the bankruptcy was “without merit” by an individual bondholder.

Continue reading Station Casinos Asks BondHolders For Chapter 11 Bankruptcy Approval

$150 million new Las Vegas City Hall approved by commission this week.  The Clark County Debt Management Commission passed a vote to allow up to $267 million in city hall financing by Las Vegas.

There has been strong opposition by Culinary Local 226 and they have tried to thwart the approval by showing problems with the revenue study that went along with the request.

Continue reading $150 Million New Las Vegas City Hall Approved By Commission This Week

M Resort Las Vegas is expected to open for business on March 1, 2009.  The local $1 billion Las Vegas hotel casino on 93 acres of land will have 390 rooms, nine restaurants, 90,000 square foot casino, 2.3 acres of luxurious pool, 20,000 square foot spa and 60,000 square feet of meeting areas.

Continue reading M Resort Las Vegas Is Expected To Open For Business On March 1, 2009

A 47 story Las Vegas hotel casino proposed for downtown Las Vegas Union Park.  The 1.6 million square feet resort will include 1,000 hotel rooms, 120,000 square feet of casino, meeting rooms, health club and spa.

UPDATE: 2/4/09 Las Vegas City Council approved plans for the Union Square hotel.

There hasn’t been a newly built downtown casino hotel since 1979.  Forest City, the real estate developer, has another project it must complete before the city will agree to the Union Park 6.4 acres of land for the commercial real estate.

The current Union Park parcel needs approval of the City Council for a site plan and a zoning change for the height of the proposed 47 story hotel casino.

The City Council and a local union has second thoughts about a new city hall due to the downturn in the economy.  The building will also need to be approved after being placed on the ballot box this year.

Continue reading 47 Story Las Vegas Hotel Casino Proposed for Downtown Union Park