Is Las Ramblas In DOA?

Rumors are flying around the Web about Las Ramblas, George Clooney and Partners stake in Las Vegas High Rise Condo Hotel property slated for the Harmon Corridor.

In the New York Post it reads:

December 21, 2005 -- IT doesn't look like George Clooney is going to make that big financial score in Las Vegas as he did in "Ocean's Eleven." Sources tell The Post's Braden Keil that his much-ballyhooed, $3 billion Las Ramblas condominium and entertainment project on 25 acres in Sin City is in trouble and may be scrapped. Clooney and partners, who include Rande Gerber and Miami builder Jorge Perez, made big news last summer when the plan was announced, with the Hollywood heartthrob saying he'd donate his share of profits to charity. But the Vegas housing market is already experiencing a condo construction glut. Calls to the Related Cos., developer of the complex, were not returned.
Page Six, Richard Johnson with Paula Froelich and Chris Wilson

Ivana Las Vegas luxury condo tower listed for sale

The Ivana Las Vegas Tower, originally called The Summit, is listed for sale on a real estate Web site for $49 million and has reportedly stopped selling units.

This project seemed doomed from the start locking on to Ivana Trump apparently due to her name. Ivana's ad campaign was "Size Matters" taking shots at the Ivana Tower was slightly taller than her ex-husband Billionare Donald Trump.

Trump Towers has broken ground due to its strong brand name "Trump" and is moving forward quickly.

Ivana marks another downed project slated for the famous Las Vegas Strip. The projects that are going to get built are the ones with strong brand names as well as experienced developers.

If you have any questions about Las Vegas High Rise projects call me at 702.372.2671

Olivia

Vegas888 - Press Release

VEGAS 888 is going to be 50 Levels of Spectacular Pacific-blue Glass that wraps itself around this modern day master piece.

Del American, is launching VEGAS 888, The Ultimate Luxury Resort Condominium Residences. VEGAS 888 is a 50-story tower located between the Las Vegas Strip and the Palms Resort Casino at Flamingo Road and Hugh Hefner Drive, in Las Vegas, Nevada.

Vegas 888 is now accepting individuals to register to be the first on the exclusive VIP reservation list. These luxury Condominiums residences will offer 50 levels of spectacular Pacific-blue glass in one-, two- or three- bedroom Penthouse Lofts, Sky Villas and High-Life Suites ranging from 800 to more than 8,000 square feet of living space with astonishing Las Vegas Strip views.

This vision was embraced for VEGAS 888 by Del American and its award-winning architectural team, to create three original interior design styles: Tech Italia®, Trada Eleganta® and Pacifica Exotica® with lavish finishes from Snaidero, Vitraform, Miele, Wolf, Sub-Zero, Poliform, Dornbracht, Lutron, Raydoor and Toto. Sumptuous Spa Baths®, steam rooms, soaring 20-foot, floor-to-ceiling glass, stone to wood flooring, private balconies, granite to stainless steel counter tops and sleek glass stairs.

The intimate world-class luxuries of VEGAS 888 will be unprecedented. Thirty-five levels above the Strip, Spa 35® will house a 12,000-square-foot, multi-level and full-service resort spa. The Riviera Hot Spot® will be a private European sunbathing oasis for residents. This area will also contain plunge pools, outdoor rain showers, exotic edgeless pools and spas. After an exotic dining experience at VEGAS 888's signature restaurant you will party close to stars with your membership to The Whale Club®, VEGAS 888's exclusive Strip-view night club

The VEGAS 888 pool areas will contain private multi-level poolside Villas with rooftop hot tubs and outdoor rain showers. Three-room Bungalows or Cabanas with private patios, will be available for residents only. VEGAS 888, the Ultimate Luxury Resort Condominium Residences, will be operated by a five-star resort staff who will offer residents and their guests the ultimate in personalized services 24-hours a day. Our VEGAS 888 Blue Glove Service® will encompass Private Butlers, Concierges, Doormen, Bellmen, Valets, Housekeepers, Spa and Pool Attendants and Dining Staff whose sole mission is to anticipate and fulfill every desire of each resident.

The luxury condominiums are priced from $750,000 to more than $10 million. Pre-register for this unique opportunity at http://www.oliviasellsvegas.com/, or call the Olivia at 702.372.2671 or email our sales team directly at olivia@oliviasellsvegas.com. Construction is set to commence in the first quarter of 2006 by Tutor-Saliba-Perini.

Condo Conversion Market Creates Gap in Housing

It is estimated that another 4,100 apartment units are in the process being converted, while another 2,900 are n the planning stages, with estimates of over 15,000 ultimately planned. These condo conversion projects meet the price range needs of first time home buyers, lower incomes, and investors.

Currently, over 23 condo conversions are in planning or sales stages, with many in final sales stages. These conversions have seen a dramatic price increase in the first half of the year. In January 2005, the average price for a two bedroom condo was about $150,000. As of September 2005, the median sales price was over $208,000, on average selling for over $200 a square foot, but with the median home prices reaching just almost $300,000, for the same month, a condo has now become an affordable entry level option.

The condo conversion market is also creating an appealing rental market for investors. As 7,000 to 15,000 rental units are converted, this is having a positive impact the rental prices. As the demand of new residents, many of whom are being relocated and can afford higher rents, more Class-A apartments are being built but since June 2005 only 355 apartments units were built to meet this demand. Rents are already starting to increase as the supply diminishes with the condo conversions and the demand continues with the influx of new residents and businesses.

Olivia

The Cosmopolitan Breaks Ground

Cosmopolitan Developers broke ground on their 1.8 billion dollar Cosmopolitan Resort and Casino.

Cosmo is located on 8.5 acres between the Bellagio hotel-casino and the planned MGM Mirage CityCenter project.

The complex includes a 75,000 square-foot casino, 300,000 square-feet of retail and restaurants and a five-acre pool deck dubbed "the adult playground."

The Cosmopolitan is slated to open in 2008.

Call me for more info on how to reserve a Cosmo unit.

Olivia McClellan, ABR RGG REALTOR
Liberty Realty
702-372-3056

Project City Center

Project City Center, scheduled to debut in 2009, is a planned casino, retail, residential, and hotel development on the Las Vegas Strip. According to MGM it is the largest privately financed project in US history, with a budget of over $5 billion dollars on a 66 acre site, it will include 2 400 room 5 star hotels, a 1000 unit hotel condo and 100 unit residential condo. This 18 million square foot project has attracted the best of the best with designers such as Cesar Pelli, FAIA, James KM Cheng's, and Rafael Vinoly, FAIA signed on to sculpt the architecture of the towering buildings that will ultimately change the Las Vegas sky line for years to come.

For more details see the investor section on my website at www.oliviasellsvegas.com

If you don't already have the investor password contact me at 702-372-2671.

Thanks
Olivia McClellan

Cosmo Signs Construction Contract

10-31-05

The Cosmopolitan Resort & Casino in Las Vegas signed Perini Building Company to a 1 Billion Dollor Contract.

Cosmo which has been quiete lately will official break ground on the 5 million square feet of mixed use space some time at the end of October.

There are two high rise hotel / condohotel towers scheduled as wekk as convention space, restaurants and day to day services for residents. For a full list of amenties and more info on Cosmo - please go to www.oliviasellsvegas.com