Investar USA: Las Vegas May be the Next Hot Multifamily Market
With abundant new construction, job opportunities increasing, and luxury living accommodations developing at an exhausting pace, the Las Vegas market is ripe for affordable multifamily housing. In the following article, the team from Investar USA suggests that Las Vegas workforce housing may offer excellent investment opportunities for both individual and institutional investors. Investar USA is a real estate development and management leader, specializing in commercial and residential properties.As the local economy flourishes and workers of all skill levels become increasingly needed, workforce multifamily residences in Las Vegas are becoming ever more sought-after. Investors who want to take advantage of long-term potential as new developments take shape could reap significant rewards in the long term. A few prominent projects include:
- Symphony Park residential buildings. These high-end residences and commercial spaces will accommodate 324 luxury apartments. The buildings' proximity to The Smith Center for the Performing Arts are likely to make the development a highly desirable property.
- Circa Hotel and Resort. This development will be Downtown Las Vegas's first casino in more than 20 years, opening on Fremont Street in 2020. Completion of the resort will require the participation of more than 1,500 skilled workers.
- Viva Vision light show. Another Fremont Street attraction, the Viva Vision light show canopy will undergo a $32 million renovation, adding additional exciting features to an already spectacular installation. First unveiled in 1995, this light show features the largest standalone video screen in the world. The upgrade will intensify the brightness of the display by a factor of seven, and new LED technology will allow the display to be shown during the day.
With existing and announced construction projects creating fantastic opportunities, now may be the time to seriously consider how multifamily housing investments may pay solid dividends for years to come.
Investar USA has been a Phoenix, Arizona real estate mainstay for more than 30 years, offering solid property investment opportunities for both private and corporate investors.
