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Originally Posted by mhays
Getting a land use permit is easy.
The main killer of projects is a little detail called "market conditions". In LV the market conditions have turned negative for many projects, and they'll get worse.
The business media has been all over LV's plight -- Wall Street Journal, ENR, etc. Conventional wisdom has it that maybe 1/4 of LV's condo towers will get built anytime soon. A massive increase in construction prices is a key culprit.
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LV's plight? The fact that
any projects like this are being built in LV would have been unthinkable a few years ago. Even if every single project not now under construction was cancelled, LV would still have had a sizeable boom.
Even using your math of only 1/4 of the projects being built, that leaves 44 high-rise projects in the next 3 or so years.
Also in regards to conventional wisdom, in case you haven't noticed, it has never applied to Las Vegas. What makes you think it's right this time?
