Summerlin Center

Constructions in the Altura urban village will begin in next two years and it is being expected that it will be completed by 2015. The Summerlin center on 400-acre will remain the primary downtown of Summerlin. Constructions have already started in the Summerlin center with 1,300-acre mixed-use village at Las Vegas Beltway and West Charleston Boulevard. On the northern side of the village are the offices while the east side has the houses. The construction of the Station Casinos Red rock Resort has also begun.

Summerlin center’s regional shopping center will have one million square feet of store space with pedestrian walkway in the center. The shopping center will be one of the prized possessions in summerlin. The center will also have mixed residential building like row houses, mid-rise towers, flats and high-density houses. Summerlin center west is also another fast developing area; it will have C2Lofts that will be priced at $600,000 to be built by luxury builder Christopher Homes. Upon completion the village will have more than 2,100 homes and small parks.

High-rise commercial buildings

High-rise office buildings can be seen in the sky of Las Vegas soon due to ever increasing land and construction costs. Most of these high-rise building will make their mark along the Las Vegas Beltway. Attractive architectural design, layout and landscaping of the office projects are in demand nowadays and the growth prospective is very high in this area. There is a need to increase the ratio of floor area to land in order to cope with the escalating land value.

The only drawback in high-rise commercial building is that, as the development increases vertically, the cost in important areas like the steel framing also increases. In case of residential developers they adjust the price by increasing the sales price while commercial buildings have to depend on the rental value. As the construction cost has gone up by 30%, one and two-story has given way to five and ten stories which is more feasible.

The Cosmopolitan

The company 3700 Associates which has developed more than 6 million square feet of high-rise office, residential and retail space in New York and Miami are coming up with their new project called the Cosmopolitan in Las Vegas. The 8.5-acre Cosmopolitan site will face the Las Vegas Boulevard at the corner of the Harmon Avenue, south of Bellagio. 5 million square feet of development will come up on the site that will have dual glass hotel towers, restaurant and 75,000 square foot casino. The transparent glass front elevation will give inside view of the restaurant, retail and other non-private sapces to the public moving along the Strip. The developers expect the Cosmopolitan to be ready by 2008 and will provide more than 5,000 jobs. The condo-hotel project has advantage over other condominium project due to its leasing program in which owner can rent out his unit when not in use. Hyatt Corp. will manage the 1000 cosmopolitan hotel rooms and will also take care of the leasing program.