Verge Las Vegas condos real estate development partners Gerald Schaffer and Yossi Attia purchased the Las Vegas land in August 2001 at Main Street and Bonanza Road for $900,000. It was slated to be a senior housing project but rising construction cost moved their real estate plan to a Las Vegas mid rise project.
The Verge mixed use condominium development now planned for the site is a natural development for the area.
There is freeway access to both Interstate U.S. 15 and Highway 95, Verge is very uniquely located downtown Las Vegas for local residents who’ve seen their commute to work become up to 45 minutes.
Verge studio condos are priced from $149,900, and 60 percent of the 296 condos for sale in Las Vegas, Nevada are under $400,000. Thirty-seven condominiums are priced under $200,000.
Architect Dennis Rusk is designing 66 two-story Las Vegas lofts with 23-foot ceilings. Verge will have eight stories totaling 300,000 square feet of living space over underground parking. Some units have private terraces and balconies.
Verge general contractor is Building Consensus. The real estate project is scheduled to break ground this summer 2007.
Fremont Bank has a pledged a contingent $75 million construction loan upon 50 percent of condo sales.
Aquitania was the original name of Verge Las Vegas real estate when previously announced. This live work project will include a rooftop restaurant, 35,000 square feet of commercial space, and 40 offices for residents use.
Verge Las Vegas condominiums mixed use real estate project pricing starts at $149,900.