New Condos From The Rock
The owner of the Hard Rock Hotel, Peter Morton has
announced a new residential project. He says many of
his patrons were interested in being a part of the
Rock and had made many requests to come up with a
project like this.
Even 10 years ago Morton says he would not have the
built the condos but for the rapid growth of the city.
Las Vegas has been the fastest-growing city in the
United States for nearly 20 years and is one of the
top housing markets in the country. Home prices
increased by nearly 50 percent in the past year. "It's
the greatest growth in a city since records have been
kept," said Steve Bottfeld, executive vice president
of Marketing Solutions, a Las Vegas-based real estate
advisory firm.
Morton says he is targeting 20- and 30-year-olds.
These people were an untapped market in Las Vegas. By
creating an environment that was geared to that market
with concerts by performers such as Norah Jones, The
Rolling Stones and Velvet Revolver, the Hard Rock has
been able to attract this important demographic, along
with other age groups looking for a hip experience.
Construction of the Hard Rock residential complex is
scheduled to start in August and the will be completed
in about 2 years time.
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