Shifting demand spurs new development in downtown Las Vegas
Real estate developers in Las Vegas are seeing growing demand for homes downtown.
An article in the Las Vegas Sun this week chronicles the change, explaining that offers for homes in the heart of the city are coming in above asking price, and as new amenities are created in the city developers expect demand to rise even higher.
“That’s what you need for a city to grow is rental housing,” said New York developer Barnet Liberman, as quoted by the Sun. “There shouldn’t be any barrier for lower-income people to be able to grow and prosper. The only question for developers, guys like myself, is they’ve got to know that there’s a real solid, almost certainty that if they do A, B and C, then they get D. When you see that the city is behind you in terms of a common goal, it helps eliminate some of the risk.”