
The South Las Vegas has an up and coming new area. In December of 2005 Las Vegas city officials designated Las Vegas Blvd., south of the 215 Beltway, as “The South Strip.”
Many of the land owners in this area are in the process of getting approvals for development. Plans are being made for several hotel, condo, and casino projects along the South Strip. The Brownstones-Urban Village is a 2500 unit, mixed-use, mid-rise condo project that is now taking reservations. One Las Vegas is a 5 tower, 21 story high rise project that started vertical construction in March of 2006. One Las Vegas is also now taking reservations. There are already two other mid-rise condo projects on The South Strip, Park Avenue and The Manhattan. Contact your Welcome Home Nevada agent for the last details on seller pricing and incentive packages.
The Manhattan, like many development projects in Las Vegas are a mirror of something famous in another part of the world (Eiffel tower, New York skyline, etc). The Manhattan is the only project of its kind in the world. In the middle of this swank condominium center is a miniature version of New York’s Central Park. The Manhattan is completely sold out and development is nearing completion.
The South Strip is home to The South Coast, Station Casinos’ newest local’s casino. Olympia Gaming, who owns more than 400 acres along the South Strip area, has big plans for the Southern Highlands Resort, located at Las Vegas Blvd and St. Rose Pkwy. Construction is expected in the summer of 2008.
The bottom line. If equity appreciation is an important component in your real estate purchase, the South Strip is the best bet in town. Today, housing in this area is still affordable with an appreciation rate of 15-21% last year. Tomorrow, once major development is underway or complete, there is sure to be a strong demand to live on the South Strip and the prices will reflect it.
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