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.

Aquarius Tower to Rise This Summer

The 38-story Aquarius Tower has been scheduled to begin construction this summer in Atlanta. The project is a very impressive glass tower that has been built to reflect the feel of the Georgia Aquarium that sits accross the street. The project will have a total of 112 units with 38 floors. The units will range in size from 850 sf. to 2,100 sf. with prices ranging from the $300,000s to over $2 Million. The project is highly energy efficient with wind and solar energy components that have been worked into the design. The project is expected to be complete by the fall of 2009.

A picture of the proposed tower:

$30 Billion Development Rising in Russia

The Sverdiovsk region of Russia is seeing the start of what is being called the largest integrated urban development project in Europe. The project is expected to take until 2025 to be entirely complete, but there will be several milestones and segments of the project that will be completed at incremental times before final completion is realized. The gigantic project is being financed by investors who are taking segmented interests in the project so that it can be built out in gradual phases. Once complete there will be more than 9 million sm of residential housing, 4.2 Million sm of non-residential real estate, a 249,000 sm logistics complex as well as a 500,000-sm business center.

Below is a map of the location of the development, click the image for a larger view:

Jersey's Hamilton Square Under Construction

A 300-unit mixed-use project is rising in front of Jersey City's two-acre Hamilton Park. The project is a combination of new construction and reuse of what remains of the former St. Francis Hospital in Downtown. The first phase of the project is going to have 126 loft-style condos and 24,000 sf of ground floor retail space. This first phase should be complete at the end of this year. The building is being redeveloped to "green" standards. As part of the project a street that has been closed since 1970 will be reopened as a cobblestone street for pedestrian and vehicles.

$800M Mixed-Use to Rise in Savannah

54 acres on the east side of Savannah's historic district will start the transformation to an $800 million dollar mixed-use project that will include 11 mid-rise buildings with 350,000 sf of office and retail space, 850 residential units and two hotels. The project is expected to break ground near the end of the year. Total build out of the project will take around 7 to 10 years. The project is the first major development in the downtown area in over 150 years. The project will also expand the riverfront and riverwalk by about 2,000 feet. The project is being developed by a team led by Ambling Cos. Inc.