Quote:
Originally Posted by Krases
I kinda agree. It could be a lot worse (like completely excavating/removing the mountain) but I do think that a lot more could have been done to preserve the shape of the mountains. Natural desert parks/hiking trails should be used if any expansion is done outside of whats already been built.
I hope Vegas doesn't turn into LA. I think more should be done to prevent too much expansion into the mountains. I think sprawl would be very bad for Vegas and more should be done to increase density/public transport.
Sorry I have to bash you Aaron. It does look pretty cool in a design sense and the privacy that the mountains provide is very nice, but I think there needs to be less expansion into the desert and more conservation.
|
So here is the dilemma, Vegas and the surrounding communities are left beholden to income derived from the strip, gambling or the periphral services that cater to these industries or we make attractive to new businesses and high end patrons who could bring their businesses or their retirement income to the area. I have to agree with Aaron for the following reason. The gambling industry got away from its roots as I have noted for quite some time. A great getaway for a short period of time at a reasonable rate. In exchange the patrons left a bit of their children's inheritance at the tables, shows, eateries and hotels. They came to Vegas in droves and looked forward to their next visit. Today, even with the significant hotel price reductions, the cost of visiting Vegas is just not giving enough of a reward as all the attractions and costs are out of sight due to high rents or debt.
We can no longer assume the revenue generated by visitors bent on gambling and partying will keep Vegas and the surrounding areas in reasonable paying jobs or maintain the infrastructure. Who better than the high end folks who can afford magnificent places like Aaron is describing. I may not be convinced the model the group Aaron is referring to will work but I am hoping it does as the demographic it is catering to brings lots of cash with little cost to the city. I assume the majority of these folks will not have kids using public schools and may in fact cause to be created a private school environment. These will also be folks not looking to cause undue burden on state or city run aid centers, food stamps, unemployment benefits, etc. To the contrary they will be providing the state with an influx of sales taxable purchased items and goods creating additional demand for jobs to cater to these same folks. Though I have complete disdain for Casinos to cater to the transient elite I realize the high end home owner brings a large array of support businesses, create infrastructure and jobs and bring financial wherewithal where ever they go. This demographic generally provides the most state or city dollars in exchange for their luxury environment.
I believe this endeavor will be different from places like Lake Las Vegas or other supposedly elite communities that failed in that now buyers and the homes will actually have to qualify for loans thus requiring them to put some skin in the game so to speak in that 5 or 10% down is just not going to happen nor are appraisers just going to agree to sales prices blindly. Larger down payments will insure those residents will be here for the long run.
Many gambling establishments, in my opinion, are well on their way to bankruptcy. Though jobs are being created to support the new or remodeled establishments there is just not enough revenue to pay much more than low wages and minimal benefits such as insurance or ???. The demand for these jobs is still enormous with way more applications than jobs. The ridiculous
debt burden these places have taken on is just not a recipe for success nor will the employees be paid anywhere near what similar jobs paid in the past.
In my long winded way, I am supporting the project Aaron is involved with though I am still not convinced it will succeed. I hope Aaron can convince us all differently as a successful community like this would be a financial boon to the area.
The reality of this not so brave new world is the middle class is shrinking.
The rich are plenty rich and support those who went the other way from losing much of what they owned. The state and cities are going to need an influx of new monies and sources of revenue and a project like this can certainly be a great start in changing the dynamic of what funds the area.
Best of luck to the project.
By the way Aaron, the recipe to making Vegas the way it was and should be is to allow those overly indebted projects to go into bankruptcy. Let the owners lose their fannies, assuming they have that kind of skin in the game,
and stop placing the responsibility for paying that debt on the patrons. Shame on the developers and shame on the lenders but the "People" are now in charge and not the developers. The people demand value and pleasure and really could care less about 50 million dollar paintings or Ferrari dealerships in the hotel. Sure they attract the looky loos but almost none of those folks are spending monies. Stop making Vegas the most expensive place to eat in all of the country. Sure great eateries are wonderful but the folks who pay the overhead want value NOT 50 dollar steaks and 400 dollar bottles of wine. GET RID OF THE DEBT and stop over building income producing facilities. There is just no good that can come of it.
As in our country and businesses the numbers just got out of hand. In the old days we saved our pennies. Today a million dollars is not even saved like pennies once were. Heck, in Government Billions are now spent like pennies.
We must retrain everyone, including the bloated developers, on how to save monies and recognize income producing properties, businesses or projects, must be able to pencil out not only in boom times but in moderate times as well. Folks forgot the economy can go down as well as up and everyone who did not prepare, including those crazy developers, were left upside down when the economy collapsed. Alas, the only problem with the bankruptcies is ultimately it will be we, the tax payers, who will provide the bailout which may or may not succeed. Again, the "People" have to demand more from their developers and more from their representatives in government.
Okay, Im done for now
FOD
Prev
By the years end I will be able to provide my personal pics as I will be in Vegas for the opening of Aria.
People with the money and desire to live on the Strip permanently will gravitate toward Turnberry Place or Sky, anyway - and there are plenty of resale units available.
Linear Mode
