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Description

The offering is located within the redeveloping area of the Gateway District of the City of Las Vegas, near the Las Vegas Strip. Shadowed by The Strat, the famous Hotel/Casino with an observation tower, this location is minutes from major employers. This district is seeing both renovation activity and new development. Much of the renovation activity is occurring within multifamily buildings and activity between the Gateway District and The Arts District is merging, with development moving south within the Arts District, towards the Gateway District. Atomic Golf, The Strat, Sahara Las Vegas and the Ahern Hotel are walking distance away, as is Las Vegas Blvd. The Arts District is seeing values rise meaningfully and the under-construction projects, The Myles and Gemma are adding critical mass for higher-end rental housing while commercial property development has expanded in the recent two decades, when Arts District began to capture development interest. We anticipate that the Gateway District will see appreciation similar to what Arts District has experienced. Furthermore, the subject property is located within the opportunity zone, a benefit to owners with a long-term view of a district next to some of Las Vegas' most famous sites.

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