- SummerSouth Insider
- Posts
- 🏫 LVXP Announces Plans for Las Vegas's Tallest Ultraluxury Resort and NBA-Ready Arena
🏫 LVXP Announces Plans for Las Vegas's Tallest Ultraluxury Resort and NBA-Ready Arena
Issue #145 - April 30, 2024
John Wu
30 Apr
Dear SummerSouth Insiders!
🚀 Exciting News Ahead & We Need Your Support! 🌟
Hello, amazing subscribers! We're gearing up for some thrilling developments and can't wait to share them with you! But here's the thing – we need a little boost from our most valued members: You! 🙌
Here's How You Can Make a Huge Impact:
💌 Spread the Word: If you love our daily newsletter, why not share it? Whether it's family, friends, neighbors, or the friendly faces running local businesses – if you think they'll enjoy our content as much as you do, let them know! Your recommendation means the world to us and helps our community grow.
👍 Join Us on Facebook: Ready for more engaging content? Simply visit our Facebook page at SummerSouth Insider and hit that 'Like'
and ‘Follow’ button! It's a click away but makes a massive difference. Plus, you'll be in the loop for exclusive updates and conversations!
Your support is the backbone of our journey. Together, let's build a community where everyone benefits from insightful, daily content. Thank you for being a part of our exciting path forward! 🌈💪
📆 Weekly Local Events for April 2024
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Monday Classes At Latin Blendz: (Every week on Monday @ 10AM)
Lunch and Rummikub Mondays at IHOP Summerlin (Every week on Monday @ 12PM
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: Must arrive/check-in before 7pm; 7 - 10pm (Every week on Monday); COST (CASH Only) $10 for 2 games (includes shoes) COST: $12 for 3 games (includes shoes)
Monday Night TRIVIA at ReBAR: (Every week on Monday @ 7PM)
Tuesday
Terrific Tuesday Fun Pickleball @ Police Memorial, Bring a Chair: (Every week on Tuesday @ 2PM)
Sand Volleyball Intermediate, Rusty and Old Time Players @ Aloha Shores Park (NW): (Every week on Tuesday @ 5:30 - 7:30PM)
Run Drink Las Vegas - Weekly Tuesday Run @ Frankie’s Uptown patio: 6:30 - 8:30 PM (Every week on Tuesday), FOLLOW US ON INSTAGRAM @rundrinklv FOR THE LATEST WEATHER/TIMING UPDATES
Level 1 West Coast Swing @ 2580 N Rancho Dr, North Las Vegas: 7 - 8PM (Every week on Tuesday); Drop in Rate is $15, Monthly pass is $50; Register online.
Wednesday
Business Leads Group - Networking Breakfast @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting: 12 - 1:30 PM (Every week on Wednesday)
Live Music Yoga w/ Cheryl Slader @ Blue Sky Yoga: (Suggested Donation $12); 5:30 - 6:45 PM (Every week on Wednesday)
Thursday
Abundance Business Networking Group Online Event: 7 - 8:30 AM (Every week on Thursday). Please arrive 10-15 minutes early for networking. Steps to access our BNI Online™ Virtual Chapter Meeting, visit website.
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors: 11 AM - 1 PM (Every week on Thursday). Request to join here.
Free Salsa Classes @ Feel The Music Dance Studio: 7 - 8 PM (Every week on Thursday). Visit the website to register online.
Summerlin Bitcoin Happy Hour: 7 - 9 PM (Every week on Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / Noé Hilyard @ Yoga Sanctuary: 6 - 7:15 PM (Every week on Friday) View Yoga Sanctuary's full schedule.
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 - 8:30 PM (Every week on Friday)
Saturday
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Find Your Yoga Las Vegas - Saturday Morning Meditation with Practitioner Selina Kelly @ Yoga Kandy, LLC. Cost: Love Donation $5-$10 suggested. 11 - 11:45 AM (Every week on Saturday)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
🌤 Summerlin South, Las Vegas Weather
⛽ Las Vegas Gas Prices
🏫 LVXP Announces Plans for Las Vegas's Tallest Ultraluxury Resort and NBA-Ready Arena
A new ultraluxury resort, potentially the tallest in Las Vegas, is planned for development on the 27-acre site that was previously designated for the All Net Arena project. This venture, led by LVXP, a Las Vegas-based real estate development company, aims to construct a 2,500-room resort complete with a state-of-the-art NBA-ready arena. The project is spearheaded by LVXP principals James Frasure Jr., Christine Richards, and Nick Tomasino, all long-standing residents with deep ties to the local community.
The proposed resort is envisioned to include advanced technological features, a casino, convention facilities, a retail plaza, and food outlets emphasizing local cuisine. Additionally, it will have a subterranean parking facility. Sustainability and green initiatives are core to the development strategy, with an expectation to create thousands of jobs and use union labor.
The development is also set to become the city's first seven-star property and is designed to be a significant economic boost, providing substantial revenue and lasting community benefits. Key negotiations include working with Steelman Partners, renowned for their global casino-resort designs, to ensure the resort not only enhances the city’s skyline but also respects Las Vegas's architectural heritage.
🏒 Playoff Pressure Mounts: Knights and Stars Locked at 2-2 After Game 4 Clash
The NHL first-round playoff series between the Golden Knights and the Dallas Stars is now tied at 2-2 after the Stars secured a 4-2 victory in Game 4 at the T-Mobile Arena. This game marks the fourth consecutive win for the road team in this series, setting the stage for a pivotal Game 5 in Dallas.
The Golden Knights took an early lead with Michael Amadio scoring off a rebound, but the Stars quickly equalized through Evgenii Dadonov. The Knights briefly regained the lead in the second period with a goal from Jack Eichel, only for the Stars to respond with two more goals, including a key power-play goal by Wyatt Johnson and a go-ahead goal from Ty Dellandrea. Dallas solidified their win with an empty-net goal from Roope Hintz late in the third period.
Key takeaways include Michael Amadio’s impactful debut in the playoffs, contributing significantly to the Knights' offensive efforts. Meanwhile, Alex Pietrangelo had a challenging game, with penalties and turnovers that led to Dallas goals. The ongoing road team dominance in this series raises the stakes for the upcoming games, as both teams have previously shown strong home records.
🏡 North Las Vegas and Las Vegas Among Fastest-Growing Home Prices Nationally
Home prices in North Las Vegas have seen a significant surge, doubling over the past seven years to an average of $410,000, according to a recent study by Point2. This rate of growth ranks the city 10th nationally, closely followed by Las Vegas, which ranks 11th with home prices doubling in just over seven years to $430,000. Henderson and Reno also saw substantial increases, with home prices in Henderson doubling in eight years to $485,000, and Reno's prices doubling in nine years to reach $504,000.
This growth places these Nevada cities alongside others like Charlotte, North Carolina, and Chandler, Arizona, indicating a broader trend of rapid residential price increases across various U.S. locations. The study also highlights the significant presence of corporate landlords in North Las Vegas, where about a quarter of homes are owned by institutional investors, a trend that is expected to grow nationally.
Despite these increases, the Las Vegas residential market has cooled recently, not ranking in Redfin's top five U.S. cities for key real estate metrics. This cooling comes after a notably poor year for residential sales in the Las Vegas Valley in 2023, which was the worst since the Great Recession began in 2008.
💲 UNLV Plans Billion-Dollar Lease for Prime Las Vegas Land
The University of Nevada, Las Vegas (UNLV) is seeking approval from the Nevada Board of Regents to enter a 99-year ground lease agreement for 42 acres of its land near the Las Vegas Strip, with the potential to generate over $1 billion in revenue. The undeveloped land, located near the intersection of Tropicana Avenue and Koval Lane and close to Harry Reid International Airport, was acquired by UNLV in 2015 for $50 million.
The proposed lessee, G2 Capital Development, plans to develop a mixed-use project on the site, although specific details of the development have not been disclosed. The project's potential includes hotel, casino, and entertainment venues, reflecting the strategic value of the location.
The annual revenue from this lease is projected to support various university goals and initiatives, with UNLV currently spending approximately $3 million annually on debt service, security, and maintenance for the land.
The proposal was due for consideration at a Board of Regents meeting on April 19, but the meeting was canceled due to a power outage. The future date for reconsideration remains unclear. Despite the potential benefits, some concerns have been raised regarding the lease's lengthy term and the clarity of the development plans.
Summerlin Area Command - Week Ending: April 26, 2024
Courtesy of The Las Vegas Metropolitan Police Department.
📌🏠 Summerlin South - March 2024
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
📌✅ We Want To Spotlight Your Business!
Would you like us to spotlight your local business in front of thousands of Summerlin South area residents in an upcoming issue of SummerSouth Insider?
We ❤️ Local Businesses!
We know our community is brimming with businesses that have fascinating stories and big hearts. If you're a local business owner making waves, crafting unique experiences, or simply putting a smile on our faces, we want to chat with you! "SummerSouth Insider" is eager to shine a light on the unsung heroes of our town. Let's collaborate and let the community know what makes your business special. Send us a message, and let's celebrate the spirit of Summerlin South together!
👇Select an option below:
✅ Own a local Business? Apply to be featured.