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Rob Flitton's Blog

By Rob Flitton | Agent in Las Vegas, NV

Shops at Summerlin to be Completed



Good news for the Las Vegas real estate market looms – particularly the Summerlin real estate market. Word is that Howard Hughes Corp (General Growth Properties) is planning to complete the Shops at Summerlin, which will lie directly south of the Red Rock Casino Resort.

The massive recession has lowered construction costs, and it is thought that they are intent on building it now while those costs are still depressed – the revenues will undoubtedly remain depressed, but it looks like they are gambling on market recovery. Initially rents will be lower, but the lower costs seem to offset that.

Construction on the project had stopped four years ago and the mall’s steel skeleton has remained ever since, unfinished and exposed to the elements, making residents yearn for the day it would be completed … that day looks to arrive in late 2014.

This project is slated to comprise more than 1 million square feet.

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