Duplex houses in Las Vegas
Construction of new housing complex in Las Vegas is expected to begin 2006 March and is expected to be completed in 2007. These housing units will be built on the site of former Ernie Cragin Annex 3, which housed 54 housing units, built in 1970.
The project will be constructed on 8.13 acres of land and will be located at East Charleston Boulevard and Honolulu Street. Eight million dollars of federal funds, $7.5 million from tax credits and $1 million from housing authority reserve fund will be used to fund the project.
The new ones replaced the old units because the old ones were not energy efficient and needed modernization. The new plan had place for increased number of units and had recreational facility for the families. It will have multi family duplexes with attached garages. Apart from senior citizens there are more than 500 families waiting for public housing. Continuous growth in Las Vegas and the increasing demand for public housing will see the replacement of old public housing by the new ones.
Condos for middle class buyers
Houston Architects and developer Larry S.Davis is coming up with a loft project in the downtown Las Vegas for the middle class family with modest budget. The lofts are expected to sell at $290,000. He is expected to construct 101 units in two downtown sites.
Davis has to his credit the success of transforming dilapidated and blighted areas into developing areas. The lofts will have bright colors and metal sheaths, which is the signature style of Davis. His projects have earned him the name “tin man” and his projects are famous all over Houston, Dallas, and Atlanta and are now finding their way into the Las Vegas skyline.
His projects attract buyers because they get twice the space for half the price. Mostly the buyers are in the age group of 22-45,of which 50% are single men and 25% are single women and the remaining 25%are couples. Davis’s Eleventh Street Loft project in Las Vegas is expected to be completed in 8 months time.
Economy in Las Vegas
Economy of a place depends on the production, trade and the supply of money in that particular region. The sales of new houses in United States reached new heights and the orders for manufactured goods declined, in spite all these factors the U.S economy is moving at a steady pace. The previous record sale, of 1.32 million units in June was surpassed by, 1.41 million new home sales in July this year.
As against the prediction of the economist, the housing front showed great performance with the increase in home prices in July. The west and the northeast enjoyed the increase while the Midwest and the north could not keep up with the pace. Existing home sales maintained its position in spite of the decrease in sales in July. Housing market has played an important role in maintaining the economy of Las Vegas. To counter balance the increase demand in housing sector, a strong demand has been created for primary metals including steel.
