How do you know the economy is picking up in Las Vegas? A new, major real estate project involving 9,000 homes is being planned.
From Vegas Inc:
Developers of the Southern Highlands master-planned community are launching another large residential project in Las Vegas.
The Olympia Cos. said today it is planning a 1,700-acre community in the northwest corner of the valley, between Grand Teton Drive and U.S. 95.
The property is entitled for 9,000 homes, as well as commercial and gambling uses. Olympia indicated that it would sell project land to homebuilders over the next 10 years.
The community would be Las Vegas’ first major real estate development to break ground since 2007, according to Olympia Chairman and CEO Garry Goett.
The real estate market is already tightening as most homes in decent shape on the market are going into multiple offers within just a few days of being listed.
Las Vegas is slowly coming back, kids.
Forward.
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