Aug. 06, 2007
Copyright © Las Vegas Review-Journal
Juhl high-rise condo tower topped off downtown
High-rise, midrise units may be ready for tenants by May
By HUBBLE SMITH
REVIEW-JOURNAL
San Diego-based CityMark Development topped off construction of the 15-story high-rise at Juhl, a $170 million mixed-use development at Bonneville Avenue and Third Street in downtown Las Vegas.
CityMark President Rich Gustafson said the first residents should be able to move into the 15-story high-rise and nine-story midrise units by May. Condo prices start in the high-$400,000s.
The 346-unit condo project with 13 live-work units is going to transform the neighborhood, he said.
"When it's done, this neighborhood will have a whole different feel. It's going to make it safer. People who own care. Crime goes down," Gustafson said.
CityMark was awarded the project after responding to the city of Las Vegas' request for a proposal to develop the 2.4-acre parcel in 2004. The land was placed in delayed escrow, which allowed the company to begin sales and line up construction financing before transferring the title. The price was $50 a square foot, or about $5 million.
A portion of the price was held back as CityMark sold units, said Scott Adams, director of the city's office of business development.
