Archive for January 23rd, 2008

The Palazzo Las Vegas Opens with Great Fanfare and 7,550 Great New Jobs!

Wednesday, January 23rd, 2008

The Las Vegas Strip formally welcomes The Palazzo to the neighborhood. Soaring 50 stories skyward at the corner of Las Vegas Boulevard and Sands Avenue, The Palazzo topped-out at $1.9 billion by the time they opened the doors. What’s the draw? Bling bling baby, but in an elegant and somewhat understated way. As you would expect, The Palazzo provides world-class restaurants and palatial shopping led by the flagship of the property, Barney’s New York. In addition, 20 luxury brands make their Las Vegas debut at The Palazzo, including Chloe, Tory Burch, Christian Louboutin, Diane Von Furstenberg, Van Cleef & Arpels, Catherine Malandrino, Anya Hindmarch and Michael Kors. Not enough? Roll with Jay-Z at 40/40 Club, relax at the world’s most opulent Canyon Ranch Spa or score a new ride at the on-site Lamborghini dealership. The Palazzo Las Vegas exemplifies the ultimate in luxury and sophistication. Despite providing 3,000 spacious luxury suites, reservations are definitely recommended.

What about those 7,550 new jobs? Believe me, this is just the opening salvo in a five year expansion of historic proportions on Las Vegas Boulevard that will add over 100,000 units to the employment tally. The Michelle Sterling Las Vegas Real Estate Team couldn’t be more excited for the future of the residential real estate market in Southern Nevada. Just like politics, all real estate is local. It’s the economy, stupid! Everytime I hear that phrase I just smile because the Las Vegas economy is about to hit the afterburners for another multi-year speed trip. Not sure what I mean? Las Vegas builds massive resorts and mini-cities in 18 months or less. Once they’re open….they’re full….I mean 92% of the time, which was the 2007 occupancy rate, which is stratospheric. Economic meltdown? You should have been at opening weekend at The Palazzo!