Developers Moving In To Downtown Las Vegas

Real estate developers found the Las Vegas Strip to present one of the most exciting building opportunities, neglecting to notice the city’s downtown core. As such, Downtown Las Vegas has been left barren, with a landscape of half-finished buildings, old rundown casinos and government offices.

Now, developers are beginning to see the value in the area and are looking at ways to revitalize the Las Vegas’ downtown area. After the recession, downtown Las Vegas presents an inexpensive but possibly profitable opportunity in the real estate market. As such, developers from across the country are looking into building in the area.

Currently, a new City Hall is under construction, which will be designed by Forest City Enterprises, the architectural minds behind The New York Times Building. The office will be 1.3 million be square feet of retail and office space and a hotel/casino in the local vicinity. A performing arts centre will also be built in the coming year, with costs estimated at about $500 million.

Mayor Oscar B. Goodman calls this a “mini stimulation package”, as it will certainly boost the image of the downtown core and, hopefully in turn, the economy.

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