Village at Queensridge real estate in Las Vegas mixed-use development has unveiled development plans from Property and Building Corp., a subsidiary of IDB Development Corp. and one of the largest real estate companies in Israel. The Queensridge Las Vegas project, totaling about 210,000 square feet of retail and office space, will be part of the larger Village at Queensridge Las Vegas mixed-use development in the city.
The $400 million PBC portion of the Village at Queensridge real estate will include about 75,000 square feet of office space, with about 135,000 square feet for retail. It will also include major parking component, with roughly 3,000 underground parking spaces. PBC is an equity partner in the Village at Queensridge Summerlin commercial real estate development, which is being developed by the locally based Executive Home Builders Inc.
The Village at Queensridge Summerlin Las Vegas covers about 29 acres of real estate and at completion will include about 700,000 square feet of office, retail and restaurant space, along with 340 luxury Summerlin condo units, about 11 miles northwest of the Las Vegas Strip. The Village at Queensridge real estate in Las Vegas, Nevada project broke ground last year and is slated for completion in 2008. Its sister project, One Queensridge Place Las Vegas, an upscale luxury Summerlin condo development now near completion on an adjacent site. One Queensridge Place homes in Summerlin has sold about 98 percent of its 219 luxury Summerlin homes, which are priced from $2 million to $25 million.
There has been strong interest for Queensridge real estate developments. The wealth exists in the community to support it from homeowners who call Las Vegas home.
Besides its interests in Las Vegas real estate, in the United States PBC has also developed 126 residential units in Tampa, plus a small amount of commercial space, and a 135,000-square-foot commercial project in Virginia. The company also has properties in Switzerland, Germany and Romania, and recently it bought 20 percent of a holding company that owns the Hilton Birmingham Metropole and Hilton London Metropole in the United Kingdom.
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Villages at Queensridge real estate in Las Vegas shows developments plans from Property and Building Corp.