Las Vegas - Booming Real Estate Projects.
Frank Martin of Martin-Harris Construction said
construction is booming so fast in Las Vegas that he
and other contractors are turning away jobs. And he
doesn't see the boom ending soon. Even Industry
analysts have not yet predicted a date by which time
this boom will peter out for Las Vegas.
There are so many construction projects going on
right now in Las Vegas that sometimes Martin and other
construction companies officials get a little worried
about whether they would be able to keep pace with the
developments. In addition last year there was the
problem of rising costs and shortage in the supply of
construction material. Steel prices rose from $895 to
$1,460 a ton; lumber prices rose by 47.6 percent and
concrete went up by 25.4 percent. This year supply
seems to be matching demand and prices are also
leveling off according to Martin-Harris Vice
President.
Martin-Harris Constructions alone is working on
Urban Village, Manhattan condos on Las Vegas
Boulevard; Consolidated Resorts' Tahiti Village
time-share towers, also on Las Vegas Boulevard; a
350,000-square-foot addition to Rancho High School;
the visitors quarters at Nellis Air Force Base; and
Paradise Aviation Jet Hangars being developed by
Molasky Group of Cos. on a 10-acre parcel next to
McCarran International Airport. Martin-Harris also has
the contract for Streamline Tower, a 21-story
high-rise condo tower under construction at Las Vegas
Boulevard and Ogden Avenue.
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