US Capital Wealth Management just published their market insights for September 22, 2017. Featured in the article is the Las Vegas convention and visitor attendance is the best it has ever been. This is a great sign for our economy and our community. See below for a preview and the PDF link to download the full report.
September 22, 2017
Good Times in Vegas, on the Road and at Home Signal Economic Expansion
When times are good, people go to Vegas. Since the recession in 2008, Las Vegas convention attendance has climbed to new highs. At the current pace, convention attendance and overall Vegas visitation will set new records in 2017.
People loved Vegas in the 1980s and 1990s. While convention traffic continued to grow through the 2001 – 2002 NASDAQ melt-down, overall visitation to Vegas declined. Both convention activity and overall visitation to Vegas declined during the 2007-2009 Great Recession. Since 2009, visitation to Vegas is signaling economic expansion
Nationally, hotel occupancy is running about the same pace as it did in 2015 and 2016, the two best years on record. In the last recession, hotel occupancy was roughly 20% below current levels for all of 2009. Hotel occupancy looks good.
The National Restaurant Association created the Restaurant Performance Index (RPI) in 2002. It is a monthly composite index that tracks the health and the outlook for the U.S. restaurant industry. The index includes metrics like same-store sales and labor and capital expenditures. The RPI shows expansion.
Click on link below to see this commentary as a PDF:
PDF Version of newsletter: Good Times in Vegas, on the Road and at Home Signal Economic Expansion
Gary Banner CCIM, Sr. Market Analyst for TRU Development received a special invite to attend the Annual Affordable Housing Conference hosted by Cohn Reznick at the Mandarin Hotel in Las Vegas, Nevada. The objective of this conference was to outline how affordable housing gets built. The “Low Income Housing Tax Credit” (LIHTC) was explained in masterly detail over the course of this three-day conference. TRU Development believes in affordable housing and is seeking to incorporate these incentives into our future development projects. Contact our office today at 702-545-0355 and ask for Kelly Kwasniewski to connect with our staff and learn more about our projects.
There are no signs of the Las Vegas valley slowing down. With all the buzz of professional sports teams moving to Las Vegas and the continuum of the Downtown Las Vegas Revitalization, Las Vegas is slowly coming into its own.
A new project called “The Edge” was just approved by Clark County commissioners in a 7-0 vote. This project is situated on 130 acres located on the southeast corner of Las Vegas Boulevard and Sunset Road and features a 15-story hotel, white water rapids, indoor mountain biking and much more. CLICK HERE to read the full article By Eli Segall Las Vegas Review-Journal.
TRU Development stays on the fore front of all breaking new project and community initiatives her in Las Vegas, California and Hawaii. To learn more about our market research and investment opportunities call our office today 702-545-0355 and ask for Kelly Kwasniewski.
There was a great article in the Las Vegas Review Journal on August 22, 2017 By: Madelyn Reese that supports all the activity around our new project Kaktus Life III. David J Tina, president of the Greater Las Vegas Association of Realtors provided additional commentary regarding the demand of this now booming location.
CLICK HERE to preview the full article in the Las Vegas Review Journal.
KAKTUS LIFE III is a mixed-use development opportunity with 608 multifamily residential units and 5,000 square feet of retail situated on 16.93 acres. For more information about this project and others presented by TRU Development please CONTACT Kelly Kwasniewski at 702-545-0355 today to learn about investment opportunities.
CLICK HERE to download the full report
The newest edition of the Banner Report has just been released!
INSIDE THE ISSUE:
- Why family offices high-net worth investors desire real estate allocations
- Jobs-to-Permits Ratio Remains Steady
- Too much apartment construction or not enough? (From CoStar)
- Banner Multifamily Cycle Model Explained¨; Local Real Estate momentum shows strong correlation to cycle model.
- Snapshot Las Vegas Apartments
- Big Picture Indicator
ABOUT THE AUTHOR:
GARY BANNER, CCIM
Sr. Market Analyst | Multifamily
Gary Banner is a real estate consultant that specializes in multi-housing in the southwest region of the United
States. Guiding both institutional and high net worth clients in acquisitions, sales, condo-conversions and site
selection for multi-housing. Gary’s background includes, commercial mortgage banking, brokerage sales, market
studies and expert witness experience over a span of twenty-three years. He holds the prestigious commercial
real estate distinction, Certified Commercial Investment Member – CCIM, and was presented with the CoStar
Power Broker Award in 2013.
We have some exciting news! Kaktus Life I located at 10650 Dean Martin Drive, Las Vegas is under way. This is our Class A mixed -use development with 210 multi-family units and 21,600 sq. ft. of retail space. If you are interested in investments opportunities with TRU Development contact Kelly Kwasniewski today at 702-545-0355 or via email email@example.com.
On August 10, 2017, Gary Banner CCIM attended and completed the AIA Nevada course called “Big Ideas: The Vision 2045 Downtown Master Plan”. The course focused on the fundamentals driving our growth and the positive impacts of planning and urban architecture, the aspects that will contribute to the success of the initiative and the challenges that the developers/businesses will experience as we transition through this environment. At TRU Development we pride ourselves on engagement within our communities like The Downtown Master Plan in Las Vegas.
For more information about The Vision 2045 Downtown Las Vegas Master Plan CLICK HERE