The city of Henderson is getting the first Green community in the state, Sommerset. This intimate community of only 48 homes will be the first community built powered by solar energy. Homes will generate their own power through rooftop solar collectors and will feature excluse GE ecomagination products, including a whole house energy monitor that will tell the homeowners how much power and water they are using per month. The unit also tracks the amount of solar power being generated and keeps archives of production and use. Homes sizes range from just over 1,600 sf to over 2,700. All homes also come with state of the art GE energy saving appliances as well.
Home buyers looking for green property were resigned to condo living until the arrival of Sommerset. Priced in the 300's, these homes will not last. Call 702-493-8033 for more information or to schedule a tour. I may also be reached at info@lvrealty.net -cr
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One thing is certain in the high rise market, never count a project completely down and out. The Las Vegas Central project has been around for years. Originally the project was going to be two 47 story towers located close to the convention center. The FAA nixed the original design, citing safety concerns due to the tower's height and forcing a redesign. That combined with a slowing in the market, the developer went into bankruptcy last year.
Play the long odds
Despite that, the project is not dead. The convention center is spending over a billion dollars in a redesign that will move the main entrance to within 300 feet of the central site. The developer has been approached by several large hotel operators to build a hotel on the site instead. The new plans now call for the top couple of floors to hold penthouse condos of about 3,500 sf. This is exactly why Vegas is a gambling town. No word yet on what brand the hotel will be or pricing on the penthouses.- Charles
The success of the District in Green Valley has not gone unnoticed by other developers. In the wake of the mortgage crisis, commercial real estate seems to be largely unaffected. So its no surprise that developers are building more mixed use projects.
Metreon Lofts is the latest entry in the mixed use market. The community is being developed by Kennedy Commercial and will be located just six miles from the Las Vegas strip on West Flamingo. Metreon will have two distinct five story residential buildings offering live/work, terraced lofts and fabulous penthouse units. Commercial tenants include Sammy's Wood Fired Pizza, Fedex Kinko's and Einstein's.
The community is already under construction and the grand opening is January 31st. If you are looking for a unique loft community in Las Vegas, call 702-493-8033 or email me at info@lvrealty.net for available floor plans and Metreon pricing. -cr

It seems to be a growing trend in new communities in Las Vegas. While many builders have slowed down considerably or switched to commercial projects (has anyone been to the strip lately? There are still cranes everywhere), there seems to be a growing trend in new projects and those that are still selling well---mixed use. Probably the most successful mixed use project to date in the Las Vegas valley is the District, located in the master planned community of Green Valley. To be fair, it was built and sold during the boom. However, it has spawned several similar communities across the valley like Manhattan West, Sullivan Square (which also boast a LEED (green) certification), Promenade and Metreon Lofts.
Builders are able to hedge their bets by adding in retail and office space into the project. There doesn't seem to be any lack of businesses wanting commercial space in Las Vegas. Add to that the extra community value that those businesses bring to the residents, it seems like a formula for success in a slow market.
Whether or not this will be a winning formula for years to come remains to be seen. The steady stream of people moving to the Las Vegas valley has decreased slightly (still thousaands per month). However, all of those new residents are going to need dry cleaners, coffee shops and restaurants, so I'm betting these types of projects are here to stay.-cr
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