Rising Demand Boosts Las Vegas Rents
ByLas Vegas’ recovery features above-average job and population growth. That has produced a modest but steady improvement in housing demand, as the market aims for long-term stability.
Employment gains were led by the mining, logging and construction segment, which kept its position as the state’s fastest-growing sector during the past year, due to a spate of ongoing projects. MGM is working on a $130 million expansion of the Grand Conference Center, while a 65,000-seat stadium is in the planning stages. Station Casinos will add a gaming and entertainment facility in Reno, and Eldorado Resorts will upgrade its Eldorado, Silver Legacy and Circus Circus properties in the area. The office market is recovering, with demand and rents on the upswing. Credit One Bank’s new 152,000-square-foot headquarters is slated for delivery by the end of the year…
