Las Vegas Sun

October 15, 2018

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Plans for new condo high rise are announced

Las Vegas Mayor Oscar Goodman proudly announced a new high-rise condominium project at his regular Thursday news conference, then stood to the side and let the developers make their sales pitch.

The proposal, which goes to the Las Vegas Planning Commission Nov. 17, is for a 34-story building with 409 units just south of the Clark County Government Center parking lot.

That places it just east of and across the railroad tracks from the city's Arts District, and on the north side of Charleston Avenue from the Holsum Loft project, something that has attracted attention as a possible harbinger of future eclectic living in the central city.

"I'm very bullish on Las Vegas," said Michael N. Mirolla, a managing member of Sandhurst Development, which is building the project.

He said his company bought the 3.2 acres upon which the building will sit from Union Pacific. He said he hopes to purchase additional adjacent land for future development.

His company just opened a Las Vegas office after researching the market for about three years, and sales trailers for the project will be on-site shortly, Mirolla said.

A press release for the project described it as being for people who desire "access without total commitment."

"If you're rich and fabulous and don't have to work or sleep there are at least a dozen high rises going up with you in mind. But what about those of us out here in the real world?" reads the release.

Prices start in the $250,000 range, Mirolla said. The project itself is expected to cost $180 million, he said.

The ground level is to feature a 10,000-square-foot restaurant and a 30,000-square-foot spa and health club.

That's not the only similarity with many of the high-rise projects announced recently. Mirolla said the property will be gated, with a concierge and valet.

That's similar to most Strip projects, but notably different from some other downtown projects -- such as Liberty Towers at 1801 Las Vegas Blvd., where developers made a point of opening up access to the building's base to create an "interaction" with adjacent residential neighborhoods.

Mirolla said that if the project had been planned today, with the improvements to the downtown environment in mind, it may not have been designed as a gated property.

He also held out the possibility of the project opening to the community: "Our objective is to have a living, breathing, residential (community)," he said, adding that it will be marketed to people who want to make it their primary residence, as opposed to many Strip condominiums marketed as second homes for the wealthy.

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