Monday, Jan. 31, 2005 | 10:35 a.m.
Sandhurst Development LLC has more than a condo tower in mind for land near downtown Las Vegas and other developers are also continuing with their plans for the area.
Sandhurst is now working on plans to build a 35-story tower on 3.2 acres on the north side of Iron Horse Court, between the railroad tracks and Grand Central Parkway, at Charleston Boulevard.
But Michael Mirolla, managing director of Sandhurst Development, is eyeing additional land owned by Union Pacific in the immediate area.
Mirolla said the company is negotiating with Union Pacific for 12 acres of land that is just southwest of his current site.
If Sandhurst Development is successful in obtaining the land, it plans on building additional residential complexes and a mixed-use commercial area.
Mirolla said with the soon-to-open World Market Center furniture market and the city's plans to develop the 61 acres, both just up the street from his property, bode well for the area.
"Downtown is another market itself, everything is new," he said. "This whole area is going to grow and become a big area of demand."
Sandhurst's tower is a planned 35-story that will total about 900,000 square feet. Condominiums start on the seventh floor and range in size from 800 square feet to 2,000 square feet, with two-story penthouse units ranging in size from 2,400 square feet to 4,700 square feet.
The tower was approved by the Las Vegas City Council in December. Project costs were not disclosed.
Because of the curve of the building, many of the condo units are unique and differ from floor to floor, said Joseph Manzella, of Sandhurst Development.
Prices average $444,000, Mirolla said.
The tower will include a health club and spa and restaurant, open to both tower residents and the public, Mirolla said. Parking and resident storage spaces also are a part of the building.
"Our target market is people who live and work here," Mirolla said.
Reservations are now being taken, and construction is expected to begin in June, with a fall 2006 completion, he said.
Another project expected to change the face of downtown is the Newport Lofts at Hoover Avenue and Casino Center Boulevard, to the east of Sandhurst's development.
Local attorney Clark Seegmiller, and West Seegmiller, along with SoHo Lofts developer Sam Cherry are working on the Newport Lofts at Hoover Avenue and Casino Center Boulevard
Along with his law practice, Clark Seegmiller, a principal with Seegmiller Partners LLC, also has dealt in land, mainly in the downtown area for several years.
"We picked downtown because one, we had the land that I purchased three, four years ago and it borders the Arts District and I love that area," Clark Seegmiller said.
The 25-story, 335-foot tall building will include 168 loft-style units, six stories of parking and retail spaces on the ground level. Units will range in size from 900 square feet to 1,600 square feet, with two-story penthouse units ranging in size from 1,800 to 3,072 square feet.
Units range in price from the high $300,000 to more than $1 million. Project costs were not disclosed.
The Newport Lofts will have its resident amenities on the top floor of the building. Plans are to have a fitness and spa center, pool, gardens and other features.
Reservations for Newport Lofts were kicked off last week at the Golden Nugget in downtown Las Vegas. Clark Seegmiller said over half of the units were reserved at that time.
He expects construction to begin in May.
Other condo projects downtown are Club Renaissance, a 60-story, 705-foot condominium tower at the southeast corner of Casino Center Boulevard and Bonneville Street, and Streamline Tower a 21-story building, will be constructed on the site of the Golden Inn motel at Ogden Avenue and Las Vegas Boulevard.