March 31, 2006

Pop pop fizz fizz oh what a relief it is


You just know condo project after condo project in Vegas, Miami, Phoenix, San Diego, Boston and city after city will be cancelled - some even in mid construction.

Here's yet another from Vegas announced with so much hype (pets.com anyone) - and then out with just a whimper... Anyone hear any other cancelled projects? How about those "X10 Wine Lofts" in Scottsdale - my favorite!

Clooney high-rise condos hit snag

The $3 billion Las Ramblas luxury condominium-hotel project backed by actor George Clooney is no longer taking reservations at its sales office on Convention Center Drive.

Las Vegas-based Centra Properties and Related Las Vegas formed a joint venture last year to acquire the land for $85 million. Clooney had reportedly invested $10 million in the project.
Las Ramblas was among $20 billion in condo and hotel projects to be developed along the Harmon Avenue corridor, from the Hard Rock Hotel to the Palms.

"The sales office is not closed," Related Las Vegas President Marty Burger said Tuesday. "There are lots of rumors. Don't believe everything you hear. When something is concrete, we'll call you. I can't talk about it now. Sorry."

23 comments:

PopLA101 said...

"Las Ramblas," ..."would become the first open-air pedestrian promenade in Las Vegas, the developers said."
- should be nice in the 110+ degree Vegas summers. Maybe there is reason nobody built one there yet?

LV is due for a plunge

gerlando_sciascia said...

When low IQ Hollywood morons like Clooney start to get into RE, then you know it's about to crash.

Joe Logic said...

If you wanna good laugh, wait til around April 8, then go to the RJ's Housing Section.

So far, every month this year they've published a story about house prices slipping, with a spin quote from con artist and doushbag Linda Rheinberger, president of the Realtors' association in Las Vegas. It's complete and utter ignorance.

For Example

February 8 (for January)
"We're definitely softening, definitely slowing down," said Linda Rheinberger, president of the Realtors' association. "We're catching our breath and getting ready for the next boom."

March 8 (February)
"The true experts are bullish for '06."
She said David Lereah, chief economist for the National Association of Realtors (sic: also king of all con artists), told her to look for an investment property for him in Las Vegas.

monarchcrest said...

"X10 Wine Lofts" in Scottsdale - my favorite!"

Hey are these cancelled? I drove by the lot yesterday, didn't see any signs except a new sign advertising the Toll Brothers condos down the street.

I actually thought that these were priced fairly decently when they came out. I lived 1 block away from them.

monarchcrest said...

I'm pretty sure that when these first came out that the 1 bedrooms were in the low 200's. Of course, the 2br I was living in a block away was only $100k at the time. Anyway, I'll take a closer look at the sign and see if there's any work going on. I can take a pic tomorrow so you can post it here. :)

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