World Market Center Furniture Mart In Las Vegas Delays Construction
World Market Center furniture mart in Las Vegas real estate delays construction start date. The unstable credit and real estate markets have added second thought for developers with new construction across America.
The 12 million square feet mega project downtown Las Vegas says its investors are still committed to building the $3 billion development. The markets are making it very difficult for the immediate continuation of the next phase.
This is a complete departure from the quick pace the World Market Center set from the beginning. For the past three years almost half of the market’s seven major industry conventions have commenced with a new building opening. The World Market Center buildings totaled investments worth hundreds of millions.
To date Building C has added 5 million square feet to the total development with over $1 billion investment. The third building includes 2.1 million square feet worth $550 million.
To help shield the developer from being totally vested in furniture trade they are expanding their current customer base.
The Las Vegas Design Center showrooms have made some changes existing space for interior designers. Future expansions include bath and kitchen sectors and gifts of the home furnishings industry
As a major competitor to the High Point Market in High Point, North Carolina, diversification in its offerings will give the World Market Center in Las Vegas its advantage.
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World Market Center furniture mart in Las Vegas delays construction.