Stories From the Front Line

One of the things that has worked out really well for ManhattanWest was my decision to locate our corporate offices adjacent to the construction site. This makes it easy for my construction team and myself to walk over a couple of times a day (and sometimes more frequently) to keep an eye on construction, discuss design issues with our general contractor and subcontractor, and keep things moving forward briskly.

Lately, the focus has been on concrete and plumbing. The concrete is being poured for the parking levels and to create the base for the residential floors. Before the concrete can go in, though, the underground plumbing lines need to be put in. This is about as deep as we go into the earth. The most interesting moments are when we hit pockets of mineral-hard "caliche", a sort of rock formation common to Las Vegas. The good news is that caliche is a great bedrock upon which to build. The bad news is that trying to dig a trench through pure rock is not as easy as digging it through desert sand!

Our construction team has brought in special equipment to handle the caliche. They take standard-issue loaders and attach a device called a ram-hoe. It's like a really really big jackhammer. And sometimes, when there's enough room, they wheel in the big mama: a Trencher. This big beast can grind through rock at an impressive clip.

We've gotten the first slab poured, and we're starting to deploy the framers to the site to begin framing work. Things are moving quickly as we press on an around-the-clock, 7x24 construction schedule.

Alex

ManhattanWest Teams Up With 944/Spy On Vegas for Sales Event

A great time was had as ManhattanWest sponsored the Spy On Vegas Open Bar at the sales center on Thursday, October 25th. Guests enjoyed live music by the HagerRiver Project, delicious hors dourves, and specialty cocktails provided by Skyy Vodka. The sales team provided model tours as four new residents reserved their homes that night.

ManhattanWest Goes Vertical!

The construction team for ManhattanWest has been working vigorously since the pouring of the foundation began in October.

VIP Sales Release and Cocktail Party: Thursday, September 27th, 2007, 6:00pm - 8:30pm Manhattanwest Sales Center:9121 West Russell Road

Please join us at the ManhattanWest Sales Center on September 27th from 6:00-8:30pm for a New York Soiree as we celebrate our newest sales release! Enjoy live jazz, great food, and special ManhattanWest cocktails.

Tour our full-sized model residence, view 3-D animations, and learn more about the community in a relaxed atmosphere.

Be sure to register now to join our VIP list or call 702.893.2663 to reserve your invitation to a night not to be missed!

Massive Job Growth Significantly Boosts Demand For Housing

The opening of the Palazzo Hotel and Casino in November of this year marks the start of massive job growth tied to casino and convention based projects. Higher job growth equals higher demand for housing, a very positive long term trend for the Las Vegas economy.

Fact # 1-The Palazzo has already begun to hire for more than 4,000 new positions.
While most people outside of Las Vegas have not heard of it, this is a very significant project, and will be one of the largest employers in Las Vegas.
It marks the start of a new wave of massive hiring needs for the casino and convention industries.

Fact # 2- The Palazzo is just the beginning. Hotels and casinos alone will need to fill an estimated 125,000 positions by 2012.
While the Palazzo itself will have a significant impact on the Las Vegas economy, it is just the start.
The initial tower of the non-gaming Trump International Hotel & Tower opens next year as will Station Casino's $650 million Aliante Station in North Las Vegas.
Boyd Gaming Corp.'s $4.8 billion, 5,000-room Echelon project broke ground last week.
Wall Street firm Deutsche Bank said the Las Vegas casino industry will need to fill some 113,500 positions by 2012. The report was completed before the New York-based Elad Group announced plans in May to replace the New Frontier with a $5 billion resort, and the announcement of a joint-venture development on the Strip's north end between MGM Mirage and Kerzner International. With those projects the estimate rises above 125,000 new positions.

Conclusion:
While the 24,000+ new homes on the market today is a high, the 125,000 new workers in the hotel and casino industry alone will easily absorb many times that inventory. The trend in job growth means a strong long term housing market for the Las Vegas Valley.

Manhattan Condominums Celebrates First Anniversary

Zero foreclosures in the first 525 closings is a testament to the success and stability of this community.