Two of the things we make a big deal about at ManhattanWest are our track record of delivering what we promise, and our ability to create social environments at our communities where you can meet new people and enjoy time with your friends. The slide show below features images from Manhattan Condominiums, our project on the South Las Vegas Boulevard, where you can see first-hand that the Manhattan brand delivers on what it promises.
Tuesday, August 28, 2007
Wednesday, August 8, 2007
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.
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.
Wednesday, August 1, 2007
Monday, July 16, 2007
The Market for ManhattanWest Holds Strong
Condominium Inventory in ManhattanWest’s $250K-$500K “sweet spot” dropped more than 5% in June.
This is a substantial drop and means that the market not only started to stabilize in June, but that the previous trend of inventory build-up actually reversed. Buyers purchased more condominiums in this price range than sellers put on the market. If the trend continues, inventory will keep going down. Lower inventory means less competition, higher buyer confidence, and eventually higher prices.
Condo Inventory between $250 and $500K Dropped More than Inventory Outside That Range
Inventory priced from $250K-$500K dropped more than three times as much as inventory outside that range. The vast majority of ManhattanWest inventory is in this “sweet spot”, the best performing segment of market.
You Can’t Lump Condo Data with Single Family Home Numbers
The press tends to bury good news about condominiums in the middle of negative articles about the market as a whole, but the numbers speak for themselves. If you want a true picture of the market you must separate condominium data from SFR numbers.
This is a substantial drop and means that the market not only started to stabilize in June, but that the previous trend of inventory build-up actually reversed. Buyers purchased more condominiums in this price range than sellers put on the market. If the trend continues, inventory will keep going down. Lower inventory means less competition, higher buyer confidence, and eventually higher prices.
Condo Inventory between $250 and $500K Dropped More than Inventory Outside That Range
Inventory priced from $250K-$500K dropped more than three times as much as inventory outside that range. The vast majority of ManhattanWest inventory is in this “sweet spot”, the best performing segment of market.
You Can’t Lump Condo Data with Single Family Home Numbers
The press tends to bury good news about condominiums in the middle of negative articles about the market as a whole, but the numbers speak for themselves. If you want a true picture of the market you must separate condominium data from SFR numbers.
Tuesday, July 10, 2007
Wine Tasting Recap and New Event: Thursday July 26, 2007 6:30-8:30pm
The buzz about our first Rock N Roll Wine tasting event was so positive that we're hosting another Wine Tasting on Thursday July 26,2007, from 6:30-8:30 pm in the ManhattanWest Sales Center.
"The event was a great way to learn more about both wine and ManhattanWest in a no-pressure environment", said guest Stefanie Schneider about the ManhattanWest Wine Tasting event held in June. "The music and food were great, and I got to meet a lot of interesting people. There was definitely a good vibe in the air."
Guests were excited to experience what the ManhattanWest wine bar will be like, which featured live acoustic guitar playing and exotic wines from across the world provided by Rock N Roll Wines.
This next event is shaping up to be just as exciting, with more great music, food and wines to come. You'll have a chance to tour our full-sized model residence, view 3-D animations, and learn more about the community in a relaxed atmosphere.
Register now at ManhattanWest.com to be put on the VIP list, get directions and learn more about the ManhattanWest community.
We look forward to seeing you there!
"The event was a great way to learn more about both wine and ManhattanWest in a no-pressure environment", said guest Stefanie Schneider about the ManhattanWest Wine Tasting event held in June. "The music and food were great, and I got to meet a lot of interesting people. There was definitely a good vibe in the air."
Guests were excited to experience what the ManhattanWest wine bar will be like, which featured live acoustic guitar playing and exotic wines from across the world provided by Rock N Roll Wines.
This next event is shaping up to be just as exciting, with more great music, food and wines to come. You'll have a chance to tour our full-sized model residence, view 3-D animations, and learn more about the community in a relaxed atmosphere.
Register now at ManhattanWest.com to be put on the VIP list, get directions and learn more about the ManhattanWest community.
We look forward to seeing you there!
Wednesday, June 20, 2007
Wine Tasting: Thursday, June 28, 2007, 6pm-8:30pm ManhattanWest Sales Center: 9121 W. Russell Road
Join us at the ManhattanWest sales center for an evening of Rock and Roll Wine tasting. Crafted to give you a sneak preview of a typical night at the ManhattanWest wine bar, you’ll enjoy live music, good food, and great wines.
Tour our full-sized model residence, view 3-D animations, and learn more about the community in a relaxed atmosphere.
Register now at ManhattanWest.com to join our VIP interest list, and to secure your invitation to an evening you won’t want to miss.
Tour our full-sized model residence, view 3-D animations, and learn more about the community in a relaxed atmosphere.
Register now at ManhattanWest.com to join our VIP interest list, and to secure your invitation to an evening you won’t want to miss.
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