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Old Posted Jul 15, 2006, 5:20 PM
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^SCOTTG, the empty lot next to the 3 MGM towers will of course be the space for the two new towers, each 550ft tall and also built by Turnberry in cooperation with MGM. 5 towers in a small area - density!! Well for a project excluding Citycenter of course.

Spanish View Towers work halted; Vegas 888 shuts sales office

>Well, this confirm's Jazfingr's rumor the other day. What a pity. As for the Spanish Towers, wouldn't this be the first project to actually be suspended during actual construction? Having it cancelled after a crane is already up seems absurd, they obviously have to finish what they started.

Jul 15


One high-rise condo project has halted construction pending new financing and another has closed its sales center, sources said Friday.

Construction of Spanish View Towers in the southwest Las Vegas Valley stopped for two weeks and should resume sometime next week when the developer closes escrow on a new loan, David Berg of Prudential Americana said.

A skeleton construction crew, under supervision of general contractor Ledcor, remains on the 15-acre site doing small jobs. Liens that have been filed against the project should be released next week, Berg said.

"There will be some major lawsuits for nonperformance," he said. "It'll be names people will recognize."

Developer Rod Yanke told the Review-Journal in January that the $300 million project was primarily financed by hedge funds in New York. Three 18-story towers with 444 luxury condo units are planned for Spanish View, with prices from $800,000 to $6 million.

Meanwhile, Vegas 888, a high-rise condo tower planned for 10 acres at Flamingo Road and Valley View Boulevard, has closed its sales center, broker Bruce Hiatt of Luxury Realty Group said.

Florida-based Del American, developer of Vegas 888, ran into financial problems with its first project, Vegas Grand, which is under construction at Flamingo and Swenson Street.

Rising construction costs and permitting delays forced Del American to cancel reservation contracts last year and reprice the units about $100,000 higher, prompting a class action lawsuit by many of the buyers.

The Vegas 888 site, purchased for about $50 million, is reportedly up for sale.
Reception kicks off juhl's ascent

*You can make it out but that's steel behind him in this photo.


City officials, future residents witness milestone in development of mixed-use, mid-rise property

Home buyers, Las Vegas city officials and media representatives recently came out to the juhl site in celebration of the start of vertical construction.

Rich Gustafson, president of developer CityMark Development, thanked the city for its support of the mid-rise project that combines residential and retail units.

"We could not be more excited that this monumental development is truly under way in the heart of Las Vegas," Gustafson said. "juhl most certainly will play a pivotal role in the redevelopment of downtown. Sales continue to sharply exceed expectations. People are really excited about living downtown, and with this project going vertical it won't be long before the corner of Bonneville (Avenue) and Fourth (Street) is bustling with happy homeowners who will be able to walk to work, shops, museums and their evening entertainment venues."

juhl home buyers celebrated at their own event later that evening in the sales office.

"We are thrilled to see such a positive response from our home buyers," Gustafson said. "A celebratory event was in order to express our appreciation and excitement about this venture moving forward."

juhl will make a distinctive mark on the downtown skyline, rising six to 15 stories with a glass-enclosed lobby accessing a series of six buildings of varying heights and facades.

Residences range from 616 to 2,500 square feet with warehouse lofts, mid- and high-rise lofts, townhouses, flats and penthouses.

Units feature exposed mechanicals and concrete surfaces. Additionally, the lofts feature 10-foot floor-to-ceiling windows; private patios or balconies; energy-efficient air conditioning; high-speed Internet access; Grohe chrome plumbing fixtures; island kitchens with granite slab counter tops, maple cabinetry and stainless steel appliances.

Prices start from the high $200,000s.

Common amenities include a two-story fitness center, landscaped rooftop courtyard with a spa and 75-foot pool, and a ninth-floor viewing deck. There is also a multi-level parking structure with gated access, 24-hour security and 24,000 square feet of retail space.

The surrounding area features boutiques, art galleries, restaurants and gaming properties, all within walking distance.

To visit the information studio, take Interstate 15 to Charleston Boulevard, head east to Grand Central Parkway, go north to Bonneville, then head east to 255 E. Bonneville. The studio is open from 10 a.m. to 6 p.m. daily except Mondays, when it opens at noon.

Last edited by Reverie; Jul 15, 2006 at 5:25 PM.
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