$850M Mixed-Use Vegas Site Begins Leasing

Brought to you by

 

May 05, 2006
By Tonie Auer, Southwest Correspondent

Working to fill a void of housing and mixed-use development designed for residents--instead of tourists-Las Vegas master-planned community developer Peccole Nevada Corp. and Executive Home Builders has started leasing space in its $850 million Village At Queensridge in Las Vegas.

Situated at Rampart Boulevard and Alta Drive, at the edge of the master planned community of Summerlin in Clark County, the dynamic 29-acre project includes 340 residential condominiums, 700,000 total square feet, including 450,000 square feet of retail, restaurant, entertainment and 250,000 square feet of office space.

The project was conceived in response to the lack of locale-specific destinations in Las Vegas. What sets The Village apart from all of the luxury development on or near the Strip is that its being built for owners/users, not tourists.

"This is a development for the people of Las Vegas and the people in the suburbs," a spokesperson for the developers told CPN. "This is to bring a sense of neighborhood and a sense of real community to the city where in the past, most of the developments have been geared to tourists. This is a fresh approach designed to bring a well conceived neighborhood development to the fastest growing city in America."

Infrastructure has started and construction is set to begin on the first phase before the end of the year, the spokesperson said. Completion is targeted for 2008.

"This is a very successful community about eight miles from the strip," he added. "It has proved to be successful in attracting condominium buyers and this is a more comprehensive development with condominiums, a great variety of restaurants and retail."