Mixed-Use Developments

Mixed use developments mean you're able to live,
work and play in one environment. When planned
properly these settlements provide a
pedestrian-oriented neighborhood for walking and
strolling and meeting with neighbors, instead of
getting in a car and driving somewhere.
Lifestyle retail clients appeal to leisure shoppers
and will be definite plus to have in mixed-use
neighborhoods.

Las Vegas has already seen some forms of mixed-use
development, such as Hughes Center, which has office,
high-rise residential, restaurant and hospitality uses
on its 100 acres.

Mixed-use developments are becoming an attractive
option as homebuilders have to deal with shrinking of
developable land in Las Vegas and the resulting rising
land prices. The prices have more than tripled in the
past two years. Prime land is commanding prices of
$700,000 an acre near the Strip are topping $5 million
an acre.

The factors that contributed to spectacular growth
of the Las Vegas real estate are still in place
including 4.9 percent employment growth, low interest
rates and relative affordability, particularly when
compared with Southern California which happens to be
a big feeder market for Las Vegas homes.