Las Vegas Market Watch
LAS VEGAS MARKET WATCH SEPTEMBER 3 2019
The real estate market is steady. 5% to 7% annual appreciation with the average price $323,000 and 4000 homes being sold every month. Interest rates are LOW. That makes payments approximately $1,636 P/I for a 1700 square foot home valued at $323,000. Rents are comparable. Good for investors and renters. If you are thinking of buying, why not buy and pay your own mortgage and build equity?
LAS VEGAS IS BUZZING WITH GROWTH AND SPORTS AND ENTERTAINMENT. READ THE SNACKABLES.
The Wynn New Golf Course Will Open
In October the redesigned 18-hole resort golf course will be open.
There will also be a new convention center opening on property by the end of this year or early next year.
The Aviators
Ballpark Digest says that Las Vegas Ballpark was named Ballpark of the Year.
The Aviators were named Team of the Year.
“After years and years of work, the Las Vegas Aviators opened Las Vegas Ballpark to wide acclaim this season,” said Ballpark Digest publisher Kevin Reichard in a press release. “We’re thrilled to recognize these major accomplishments in our year-end awards.”
The awards will be recognized on-field before the Aviators’ game against the Tacoma Rainiers.
There are rumors about the Diamond Backs moving to Las Vegas. Not sure what this would mean to the Aviators and the Stadium. Can’t worry about what we don’t know for sure yet.
“100% of our attention is focused on continuing the unbelievable first year we’ve had,” Logan said. “We have to control and perform to the best of our ability what we can control. “All the other stuff you hear about, you can’t worry about it.”
The Raiders Stadium Roof Is In Process.
The Raiders Allegiant Stadium construction site in Las Vegas, Wednesday, Aug. 28, 2019. (Erik Verduzco / Las Vegas Review-Journal) @Erik_Verduzco
The high-wire act at Allegiant Stadium has nothing to do with entertainment.
The stadium will seat 65,000 spectators. The $1.9 billion stadium be home to the Raiders and UNLV football in 2020.
The construction of the cable supported translucent roof will bring the games mostly played outside indoors. September and October, crews will be raising the roof.
While the roof will be finished early next year. The stadium will not be enclosed until spring. There are so many projects underway inside. There are painting projects in the corridors and concourses. Workers are building the concession stands.
1,600 workers share 2 daily shifts laboring away on a wide variety of tasks including installing escalators and boilers, and lots of utility work...
At this point the stadium is 60% complete. The installation of the first stadium seat will be installed in January. 80% of the seat decks are completed.
Thank you to Richard N. Velotta at rvelotta@reviewjournal.com who provides so many other details at the reviewjournal.com.
The Sahara Is Back
In 1952, the Sahara Casino opened. Over time the north section of The Strip slowed down as the newer casinos popped up on the south section and the tourists were drawn to them.
The new owner Meruelo bought the SLS last year. Re-naming it The Sahara appears to his effort to mix Rat Pack-cool nostalgia with a new look from the old Sahara.
The Resorts World Las Vegas
Malaysia’s Genting Group acquired the stalled Echelon in 2013 and announced plans for Resorts World Las Vegas, a multibillion-dollar, Chinese-themed casino. Look to the left of the Trump Tower for the location.
Construction has finally showed progress and Resorts World is slated to open by the end of 2020.
Wynn Bought The Alon Las Vegas Land
Australian billionaire James Packer acquired the vacant former New Frontier land located east of Trump Tower. Packer’s group could not raise enough money so he sold the land to WYNN. The land is across The Strip from The Wynn. No development plans are available at this time.
Jackie Robinson – Former NBA Player 1000% Committed
Jackie Robinson announced in 2013 to build an arena and a five-star hotel on the former Wet ‘n Wild water park site, next to what’s now Sahara Las Vegas. He later expanded the scope to call for an arena with up to 23,000 seats, 44-story and 63-story nongaming hotels, conference space, a bowling alley, a movie theater and more. He started excavating the site in 2017 but has shown no further progress.
Photo from exnba.com
Robinson said recently the cost is nearly $3 billion — and he is “1,000 percent” committed to building it.
Cirque du Soleil New Show? Candy World
Cirque du Soleil co-founder Guy Laliberte celebrates his 60th birthday while premiering “Candy World,” his new entertainment concept at Light Nightclub at Mandalay Bay.
Guy started out as street performer in Canada and has always been a kid at heart. He’s even taking the DJ booth, along with DJs as Nico Stojan, Laurence Matte and Isaiah Martin.
“Candy World” is glimmer of what might be a new show at Light by the end of the year.
Laliberte is just promising an extravagant night of technology and EDM sounds. The production much like a Cirque production and Electric Daisy Carnival. Laliberte’s team says: ‘An immersive, sensory overload, ‘Candy World’ is a hyper explosion of art, technology and music encompassing escapism and inclusivity as guests are transported into other worlds while their participation completes the experience.”
The LOVE show is one of the most popular shows!
Laliberte has not been active in artistic development on the Strip since he sold Cirque to an investment consortium headed up by TPG Capital in the spring of 2015. The reported price was $1.5 billion, making Laliberte a very rich man who still knows how to have a good time.
The Drew Las Vegas
The Fontainebleau planned to open in 2009 but when the recession hit the company went bankrupt.
In 2010, Carl Icahn bought The Fountainebleau for approximately $150 million.
In 2017 Icahn sold it for $600 million to Steve Witkoff and partners. Witkoff named it Drew after his deceased son Andrew.
The Drew Las Vegas, as the tower is now known, is slated to open in 2022.
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