Las Vegas Real Estate Scene - September 2018

Las Vegas Real Estate News for September 2018

North Las Vegas Growing by Leaps and Bounds

North Las Vegas real estate was once a frontrunner in the housing crisis of ten years ago. Today the community is full of new growth, new construction and increased housing prices. In fact, prices are growing so quickly that many home buyers have been completely priced out of a once affordable market. New developers such as Pardee Homes and Lennar are definitely focusing on the higher end housing market with their exciting new developments in North Las Vegas.
Reported by By Matthew Goldstein and Robert Gebeloff, New York Times News Service

Las Vegas Raider Stadium Update

It looks like the estimated completion date of August 1, 2020 for the Las Vegas Raiders stadium is still on target. With an operating budget of approximately $4 million per day, it remains on budget as well. The project is employing over 500 worksers in the construction of this 65,000 seat indoor football stadium. A huge boost for tourism is expected as well as increasing sales in surrounding Las Vegas condos and real estate.

Nevada - The Innovation State

Nevada has become a leading contributor to technological testing, especially with transportation based initiatives in Las Vegas. A new RTC projects that involves linking autonomous shuttles to four hospitals in the downtown area with the Bonneville Transit Center. Other changes include creating smart bus shelters with Wi-Fi connectivity. Or improving pedestrian safety with enhanced sensors in crosswalks.
Reported By Mick Akers, Las Vegas Sun

High Speed Rail From Las Vegas to LA

Brightline, a Miami company dealing in passenger rail systems, has just purchased 38 acres adjacent to the strip. They plan to build a station for their new rail line linking Victorville, CA and Las Vegas, about 185 miles. A future expansion to Los Angeles is forecasted. Work is expected to be completed by 2022.
Reported in the Las Vegas Review-Journal

Westin Hotel Sells for $195.5M

The Westin Hotel on Flamingo road was recently purchased by Highate for $195.5 million. This was the former Maxim Hotel which was sold in a foreclosure sale in 2016.
Reported in the Las Vegas Review-Journal