The Las Vegas skyline is undergoing a dramatic change as numerous high-rise projects are springing forth from the desert floor. A number of factors are driving this trend toward vertical development: land and construction costs, land availability and the consumer demand for the unique lifestyle high-rise and condo living provides.

The majority of high-rise/mid-rise/condo developments and proposed projects are located on or around the Las Vegas Strip and in Downtown Las Vegas. Most projects are "mixed-use" in nature, providing residents with a combination of residential and retail amenities. This "urban village" concept is growing in popularity around the nation, affording owners the opportunity to live, work and play all within the confines of their high-rise home.

Things to consider when buying a high-rise condo

While typically smaller and more expensive than neighborhood condo and single-family housing in most suburban Las Vegas neighborhood communities, high-rise condo projects bring a lot to the table in the form of services, amenities and low-maintenance living. For the moment, real estate experts consider the high-rise market to have good investment potential.

–Location:

While some of the Valley's currently planned condo projects are located in neighborhoods, most are on or adjacent to the Las Vegas Strip or Downtown Las Vegas. Residents who are interested in being centrally located and in close proximity to the action and excitement of the entertainment capital of the world find this an appealing "plus." Many projects offer spectacular views. The desirable location also appeals to the investor looking for potential rental income from a strategically-placed property.

–Lifestyle:

In addition to the easy access to unparalleled retail, entertainment and dining amenities, the high-rise lifestyle provides for very low-maintenance living. Many services associated with high-rises mirror those found at luxury resort hotels. This lifestyle appeals to many people, particularly busy executives, vacation home owners and those who simply enjoy being pampered and catered to.

–Design:

Many projects currently on the market are "turnkey"– that is, they've been upgraded to the hilt and often come furnished with everything from furniture and appliances to bed linens and china!

–Amenities:

Probably the most impressive element of today's high-rise condo market is the mix of amenities available on-site. Some services available today include:

            *           Concierge and room service

            *           Housekeeping

            *           High-level security

            *           Nightclubs

            *           Fitness centers

            *           Full-service spas

            *           Gourmet food stores

            *           Upscale restaurants

            *           Movie and game rooms

            *           Conference facilities

So is there a downside to high-rise condo ownership? It all depends on how you look at it. Because of the nature of the product, high-rise condo living is more restrictive than single family residential life. Most properties have a strict management association that carefully regulates things such as noise levels, the freedom to own pets and in some cases, how you decorate your unit. You may also face limitations on how many guests you have and how you use your investment from a rental/sale perspective. You're also likely to have a variety of fees assessed in addition to your mortgage, particularly if the property provides a significant amount of maintenance and upkeep. The key is to do your homework before making a purchasing decision.

In the Works

Following is a description of several high-rise projects currently in development or recently completed:

–Allure Las Vegas

Overlooking the fabulous Las Vegas Strip, Allure Las Vegas features 14 distinct floor plans ranging in size from 669 to 4,218 square feet. The property offers studios, one, two and three-bedroom residences, tower suites and lavish penthouses. Upscale amenities include stainless steel appliances, granite counters, European- style cabinetry, Italian tile floors and lush landscaping with an expansive pool deck surrounded by private cabanas.

–Holsum Lofts

The Holsum Lofts Building offers a wide variety of unique suites and loft spaces. Ranging in size from 250 - 12,000 square feet, this project will satisfy a mixture of needs with flexibility and style. The property features unique floor plans and boasts design features including historic signage and exposed ceiling timbers.

–Juhl

Juhl will eventually be home to 342 residential units to be constructed in two phases over the next four years. Located in Downtown Las Vegas on East Bonneville Street, just minutes from the Las Vegas Strip, the 15-story Juhl is being developed by City Mark Development. Lofts range in size from 584 to 1,728 square feet. Penthouses are also available.

–Newport Lofts

The 23-story Newport Lofts will contain 168 units ranging in size from 900 - 3,000 square feet. Located at the corner of Casino Center and Hoover in the Downtown Arts District, this eclectic neighborhood is home to shops, restaurants, galleries and other unique businesses. Amenities include rooftop swimming pool and spa, running track and fitness center and a clubhouse and movie room, all with city views. Newport Lofts is a joint venture between Newport Beach, California-based Seegmiller and local developer Sam Cherry.

–Promenada at Rainbow

This stylish, mid-rise community in southwest Las Vegas will soon feature exquisite residential living with boutiques, dining and entertainment at its residents' doorsteps. Now accepting reservations at pre-construction prices, Promenada at Rainbow is designed as a place where homeowners can shop, work and play directly downstairs from where they live.

Ten innovative floor plans are offered ranging from 828 square feet to 1,478 square feet. The one-and two-bedroom residences each boast a balcony and have inviting open layouts suitable for any individual or family's needs.

Among the amenities include high-end stainless steel appliances, European-style custom cabinetry, double master bathroom sinks and a washer and dryer. Many floor plans also offer split bedrooms, built-in computer/tech niche and an integrated video security system with audio components.

The unique community will offer homeowners a state-of-the-art fitness center, restricted access and gated underground parking, outdoor amphitheater, on-site management, Wi-Fi throughout the common areas, two pools lined with cabanas, cold and warm water spas, shaded hammock garden, putting green, rooftop sundeck and fire pits, and a clubhouse complete with a massage room and business center.

–Sandhurst Las Vegas

Sandhurst Las Vegas is a gated, luxury residential tower with traditional apartments, lofts and penthouses. This 35-story luxury downtown high-rise has 413 units. Amenities include a world-class spa, health club, restaurant, dry cleaner and parking. Sandhurst Las Vegas is being developed by Sandhurst Development, LLC.

–Sky Las Vegas

Sky Las Vegas is the first project of its kind being developed on the famous Las Vegas Strip. Residential offerings include 409 units ranging in size from 870 – 5,500 square feet. Also available are penthouse units and three-story suites with rooftop garden patios. Amenities include an outdoor recreation area with pool and garden space, outdoor fire pit, barbeque area and dog run.

–Soho Lofts

Soho Lofts, located at Las Vegas Boulevard and Hoover, is a 16-story, 225-tower with 120 units, including eight penthouse suites. Seventy percent of the ground floor will contain retail shops and restaurants. Soho offers seven different floor plans ranging in size from 1,336 – 1,855 square feet.

–Stone Canyon

Characterized by a unique Desert Contemporary architectural style and packed with innovative and unprecedented features, Stone Canyon was designed to become a community with no equal.  The warm Mojave colors of the smooth stucco and rich stone elevations are perfectly complimented by the beautiful desert landscaping that has been master planned to tie the entire community together.  As you enter the oversized courtyard of the Indigo model you will immediately realize that the outdoor spaces at Stone Canyon have been just as carefully planned as the spacious interiors.  This dynamic "outdoor living room" is complete with a fire place, water feature, private casita, sky deck with strip views and a 10 foot roll up glass wall that blurs the boundary between the stylish modern interiors and the great outdoors.  As you enter the home, you will be amazed by the expansive open floor plan including 20 foot ceilings and a multitude of large energy efficient windows.  Polished concrete floors, a beautiful steel staircase and a stunning Italian kitchen create a unique living environment with a personality all its own.  The flexible floor plans at Stone Canyon are designed to accommodate any lifestyle and range from 1 to 6 bedrooms.

–Streamline Tower

The "Old Strip" along Fremont Street in downtown Las Vegas is being revamped into a San Diego-style "Gas Light" district. The 22-story, 251-unit Streamline Tower is a large part of this urban renaissance. The property will feature live jazz venues, taverns, cafes, nightclubs and boutiques. Amenities include a fitness center, clubhouse and 11,000 square feet of neighborhood retail space.

–The Mercer

Situated at Grand Canyon Drive and Tropicana Avenue, the condominium development will feature three- and four-story modern style residences. The one-, two- and three-bedroom homes will range in size from 800 to 2,370 square feet.

Developed by Chicago-based JDL Corporation and Las Vegas-based Modern Living Holdings, The Mercer will offer 113 units that will include modern appliances and custom cabinetry as well as wood flooring, generous closets, floor-to-ceiling windows, modern bathrooms, 10-foot ceilings and dedicated work areas.

Other features will include balconies or private yards, pre-wired security systems, secure underground parking, Strip and Red Rock hillside views and a common courtyard that will feature a pool, spa, 24-hour fitness center and a clubhouse. Semi-private elevators for every six residences will also be offered.

Construction of The Mercer will begin in Spring of 2007 and be completed in early Spring of 2008.

–Turnberry Place

Turnberry Place paved the way for high-rise living in Las Vegas and has recently completed sales on its fourth and final 40-story tower, ending its five-year sales run of new high-rise condominiums. Located at Paradise Road and Karen Avenue, each tower features a fitness facility, outdoor pool with sundeck, lavish landscaping, tennis courts, valet, 24-hour security and much more. Prices range from $500,000 to more than $1.3 million.

–Trump International

Centrally located on the Las Vegas Strip, The Trump International Hotel & Tower Las Vegas is a joint venture between real estate developer Donald J. Trump and his longtime friend Phil G. Ruffin, owner of the New Frontier Hotel. Amenities include spectacular views, white-gloved doormen, valet parking, 24-hour concierge service and on-site security. The property will also be home to a private spa, fitness center, salon, gourmet, restaurant and business center.

–Vegas Grand

Imagine the excitement of owning a home in one of the most exciting cities in the world, just minutes from the Las Vegas Strip and steps away from the world's best dining, shopping, entertainment and nightlife. Now imagine yourself at Vegas Grand, a magnificent gated master-planned Mediterranean village located just steps from the world-famous Las Vegas Strip.

Vegas Grand places you in the heart of luxurious Las Vegas while you are pampered by its Five-Star and VIP concierge services who provide residents with the best of everything, including a full-service spa, five immaculate pools, three state-of the-art fitness centers, a rollerblade esplanade and much, much more.

Additional offerings at Vegas Grand include the charming Cafe Dolce, a gourmet coffee shop located at the entrance of the community along with a full-service grocery store and a 24-hour guard attended entry. Vegas Grand is conveniently located and is five minutes from the Las Vegas airport, is adjacent to UNLV and roughly one and a half miles from the Las Vegas Convention Center.

Priced from $300,000 to more than $1.4 million, Vegas Grand features four unique collections with more than 30 one-, two-and three-bedroom floor plans that measure from 650 to 2,400 square feet.

The community's Sales Gallery is located off of Flamingo and Cambridge in the Flamingo Grand Plaza, at 1050 East Flamingo in suite N337. The Sales Gallery is open from 10:00 a.m. – 5:00 p.m. every day. For more information, please visit the Vegas Grand website at:

www.vegasgrand.us or call its sales team at 702.792.4440.