Real estate is a lot like gambling…sometimes you win, sometimes you lose. As we saw from the recent boom, savvy investors can score,and score big. In today’s volatile market, however, many potential buyers are less sure where to put down their chips.
Las Vegas has always defied the odds. What began as a handfulof isolated desert casinos has grown into a multi-billion dollar luxuryoasis. To reflect on Vegas’s growth you need only look back a decade or two. In that short time, the glittering Strip has exploded with mega-casinos and resorts, drawing in a variety of amenities from top-notch restaurants and boutiques to five-star accommodations and spa services.
Quick on the heels of Sin City’s newfound success, the real estate market came knocking, offering a number of posh luxury condos and lofts at big-time casinos like the MGM Grand and Wynn. On the hunch that more visitors might want to trade in their hotel room keys for a permanent piece of Vegas, developers quickly put into action plans for future residences from the Strip to Downtown and beyond. While some have recently opened to the public, many dozens more are slated to open in the next few years. Here’s a sampling of some of the top bets, each with their own brand of luxury, glitz and glamour. It’s Vegas, baby!
THE STRIP
Towering above the northern end of The Strip, Sky Las Vegas has the distinction of being the first luxury, high-rise residence project on Las Vegas Boulevard. Stylish and modern with a cool blue glass exterior,the 42-story building puts you high above the action with spectacular city views. Top properties include the penthouse units and a 5,000-square-foot, three-story suite with a private elevator, rooftop patio, garden and Jacuzzi. All owners enjoy the benefits of the SkyLounge social room, SkyGarden with pool and cabanas, a spa and fitness center, indoor racquetball, billiards, putting green, screeningroom, dog run, valet parking and much more(skylasvegas.com).
Two years ago, MGM Mirage broke ground on one of the area’s largest residential projects to date with 1,200 feet of frontage on desirable Las Vegas Boulevard. With a team of urban planners and eight acclaimed architects, the City Center will bring a new level of prestige and modernism to the ever evolving strip. The project includes not one, but four luxury residences: Veer Towers, Vdara Condo Hotel, The Residences at Mandarin Oriental and the Harmon Hotel & Residences. In addition to stunning architecture and design, the complex will include shopping, bistros, year-round entertainment and sporting events, and a thriving arts and culture scene (citycenter.com).
DOWNTOWN
No longer hiding in the shadows of the thriving activity on The Strip, vintage Downtown Las Vegas is experiencing an overdue revival. In fact, several new residential properties are climbing quickly in this historic area.
Juhl Las Vegas offers loft-style living and towers ranging from six to fifteen stories. Keeping with the loft feel, units feature exposed concrete and mechanicals and ten-foot ceilings to maximize light and spectacular nighttime views. Fixtures include granite counters, energy efficient air conditioning and designer-selected Grohe chrome plumbing fixtures. Residents enjoy access to a two-story fitness center, rooftop pool and viewing deck, and a lushly landscaped courtyard (juhl-lv.com).
Between The Strip and Downtown, a new neighborhood called the Arts District of Downtown Las Vegas has emerged as the city’s cultural center. It’s here that the Newport Lofts, a 335-foot residential tower has taken root. Taking advantage of its panoramic views, the action is all on the roof with a fitness center, running track, pool and Jacuzzi, spa facility and Skyroom/ Clubhouse with billiards, lounge and screening room. All deluxe lofts feature outdoor terraces and appliances from top brands like Kohler, Bosch, Sub-Zero and Wolf (newportloftslv.com).
Another addition to the bustling Arts District will be the impressive 45-story Stanhi development. Sleek and contemporary in design, the towering glass structure will feature an eight-floor amenities deck with a fitness center, state-of-the-art business center and entertainment center. Sun worshippers will take advantage of the pool and wet deck surrounded by comfortable loungers and daybeds. The 35th floor will offer a bit of meditation with a tranquil Zen garden (stanhi.com).
AND BEYOND
As Vegas’s popularity has grown, so has its boundaries. More and more resorts and projects are setting up off The Strip and Downtown in favor of more breathing room.
One of these is Spa Lofts. As the name implies, the mission here is peace for body and spirit. Set away from the neon lights and raucous crowds, this is a perfect retreat. The residences are built around an on-site spa with soothing treatments at your fingertips. A central pool, open gourmet kitchens and balanced floor plans all contribute to the flexible, simple and clean philosophy behind the design. If you always wanted to move into your favorite spa, this is your chance (spalofts.com).
Buyers in search of an authentic loft design should check out the C2 Lofts in nearby Summerlin. This take on the open space floor plan brings in many of the elements you’d expect to see in a contemporary loft: brick walls, exposed mechanical ductwork and high ceilings. Large windows and spacious terraces give breathtaking views of the surrounding desert and mountains. The project is hip, creative and cutting-edge, a reflection of Vegas’s present mode and a preview of what’s coming in the future (c2lofts.com).
