The Mercer - new Las Vegas mid rise condo project

The Mercer is a five-acre, 113-unit residential mid-rise development on Tropicana, just west of the newly constructed 215 exit and south of Summerlin. Providing a secluded living option in Las Vegas that has an urban feel similar to that found in other major cities, the Mercer has a common area located within the center of the buildings, creating a friendly environment for people to gather and meet. The interweaving of the courtyard into the life of the complex's community is not just another amenity, but a primary element in the life of the complex. The courtyard becomes the central gathering point for the community, with both private and public spaces.

Buyers can choose from one, two or three bedroom loft residences. They're designed with flair, with upscale materials and features that maximize space and light. Unit amenities, which would be considered upgrades in most developments, include 10-foot ceilings, hardwood flooring throughout and centralized phone, Internet and cable-television controls. The kitchens have stainless-steel appliances, custom wood and glass cabinetry with a choice of finishes, and a selection of one-and-a-quarter-inch granite countertops. The bathrooms offer custom vanities, detailed stone countertops and frameless shower enclosures, as well as a selection of stone flooring.



More than half of the project is sold and the development is fully funded. Move-ins are anticipated in summer of 2008. For more information on the Mercer and Las Vegas real estate in general, call our office at 702-985-7654.

Multi Family Investors Shifting Focus To Vegas

Multi family investors have become very interested lately in the Las Vegas investment market because supply - due to condo conversions and demolition for redevelopment and population growth - has not been keeping up with demand for the last three or four years, creating a ripe market. As a result, occupancies are running in the high 90% range and rents are rising at a 4% annual clip, a trend that is expected to sustain itself given subprime mortgage meltdown and the fact that while supply is catching up with current demand, it is not catching up with the backlog from previous years.

Condo conversions have taken 20,000 to 21,000 rental units off the market and redevelopment has taken another 6,000 to 7,000 units. Major local rental operations are running as high as 96 to 97% occupied.

Historical multi-family construction deliveries for the Vegas Valley average 7,000 to 8,000 units per year, with absorption tracking pretty closely. In 2005, however, new supply was negative by up to 4,000 units. And while 2006 didn’t see negative supply, it also didn’t keep up with demand and the same will be true for 2007, according to local market reports. The inability of many potential first time buyers to purchase homes due to the sharp decline in available mortgage funds, the huge projects being developed that are attracting construction workers to the area and the average price of Las Vegas homes, make the Vegas Valley a prime candidate for multi family development in the foreseeable future.

Four Seasons Ocean Residences - Luxury Living Takes to the High Seas

The Four Seasons Hotel and Resorts is getting ready to launch the newest fashion in luxury housing: sumptuous ocean residences aboard a private ship that circumnavigates the globe and spends more than 250 nights a year in unique ports from Antartica to the Amazon. Each year's itinerary will include major world events like the Rio Carnival, The America's Cup, The British Open Championship, the Grand Prix in Monaco and the 2010 London Olympics, and ship residents will enjoy unhurried on-shore excursions coordinated by their onboard concierge.

Encompassing 13 decks, this ocean bound city will have 70,000 square feet (6,503 sq. m.) of incredible public amenities including an 11,000 square foot (3,353.8 sq. m.) Four Seasons Spa and fitness facility. There will also be a European-style promenade with high-end retail stores and boutiques, four restaurants, a wine cellar, gourmet market, business center with secretarial and videoconferencing services theater, golf simulator, driving range and putting greens, walking and jogging track, swimming pool with cabanas and helipad. An onboard marina will take guests from ship to shore, offer scuba expeditions and launch jets skis or sailboats.

The Four Seasons Ocean Residences will include 112 one to four bedroom homes from 800 square feet (74.1 sq. m.) to 7,860 square foot (730.2 sq. m.) penthouse suites. All units will be wholly owned, with ownership based on a 50-year leasehold, and owners will be able to renew or sell the lease at the end of that term. Residences and penthouses will feature private entry halls, floor-to-ceiling windows, and spacious living room areas with sea views. Homes will also boast expansive terraces, a full-size gourmet kitchen and private entrance for staff. Prices will begin at $3.8M and range up to $39M for one of the penthouse plans.

In addition to the private residences for sale, 18 guest suites and 11 butler suites will also be available for purchase or rental for the exclusive use of residence owners and their guests. 220 Four Seasons crew members will be on board at all times to provide 5 star service for a maximum of 550 residents. Owners will also receive a $12,000 credit per year for food, beverage and spa services on board ship.

For reservations to attend private events around the world, or for more information and floor plans, please contact the Tonnesen/Storey Team of Prudential Americana Group Realtors at 1-702-596-7821 or register on our web site at: Four Seasons Ocean Residences