New Two Billion Dollar Mini-City Planned South of Vegas

Las Vegas Developer Plise is planning a $2 Billion mixed-use development 10 miles south of the Las Vegas strip. The project is being called a mini-city project and is considered the most ambitious of its kind in all of Las Vegas. It will include 600,000 sf. of retail, 1.5 Million sf. of Class Office Space and 2,500 residential units. All of this will be situated among 17 acres of parks, trails and other public access areas. Vertical construction is expected to begin in 2008 and the entire project is not expected to be complete until 2014.

Biscayne Landing Acquires Key Loan

Boca Developers' mixed-use project in North Miami cleared a major hurdle with a $233.5 Million credit facility with Credit Suisse of New York. The project is being built in several phases and the loan will be released over phases as the project is under construction. This portion of the financing will help build out roads and amenities that are associated with the various components of the project. These amenities include health clubs and parks that are associated with the hotel component. The deal is seen as a strong sign of the long term strength of the South Florida market.

33 Story Condo Site Being Auctioned

A condo site in the Old City Disctrict of Philadelphia is being put up for auction with a $13 Million reserve price. The site has city approval for a 33 story building with 236 condominium units. The site had been listed on the market with a $18 Million price tag. When completed the building would have views of both downtown and the Delaware River. The seller is projecting $164 Million in revenue when the project is completed. Although there are fears that the condo market has been overbuilt in parts of Philadelphia, there has been little to no development of new condos in the Old City District.