Why Utah’s Las Vegas development isn’t a success story
Posted July 07, 2018 12:32:17When you’re in Las Vegas, what you see and feel is what you get.
So it was no surprise when the real estate industry in Las Venegas went belly up in the first quarter.
It’s not the worst time to have a real estate crash.
There was a good reason for that: the Las Vegas Convention Center is a mess.
The city has spent more than $300 million to modernize the convention center, and the new plan is to put it up in 2019.
But when the developers announced the plans for the expansion last year, they weren’t just building a convention center.
They were building an entirely new complex, a “satellite convention center,” and then moving the entire convention center and the hotels and casinos from one area to another.
The developers called it the Las Venega project.
And, to be honest, it’s not so bad when you think about it.
The expansion would have expanded the convention hall from 25,000 seats to 45,000, and that would have added a total of over 40,000 hotel rooms.
That would have generated about $2.4 billion for the city of Las Vegas.
It would have also added an additional 400,000 square feet of retail space and nearly 1,000 acres of new public space.
In short, it was a pretty good plan.
But it’s a bad one.
The new project would have destroyed much of the Las Valley’s downtown core, destroying an area that has been growing steadily since the 1970s and 1980s.
The Las Vegas City Council, the people of Las Vengas, and many in the community didn’t want the new convention center project, so they put up a fight.
What did happen was that the council ultimately passed a resolution calling for the developers to halt construction, but the developers wouldn’t budge.
Instead, they started a legal battle to block the plan from moving forward.
In the meantime, the developers continued to build hotels and casino rooms, while leaving a trail of debris and destruction in their wake.
The hotel construction began in the fall of 2019, with a massive, $10 billion project that includes new hotels and a new casino.
That plan will also create 1,200 new hotel rooms and a 1,300-room convention center in the form of an additional 1,400 new rooms and 1,600 new rooms for the casino.
The $20 billion project also includes a number of other projects, including the construction of a new football stadium, a new baseball stadium, and new shopping malls.
The casino and hotel development is also expected to create more than 2,500 new jobs.
The council voted 5-4 to approve the new project in September of 2019.
The council later passed a motion calling on the developers not to move forward with the project.
But that motion passed the council unanimously.
That motion was based on the same concerns that the city council expressed last year when it passed a similar resolution calling on them to halt the project because of its environmental impacts.
The mayor of Las Cruces, one of the cities largest and most well-known casinos, was furious.
He sent an email to the developers.
He told the developers, “You’re not even going to stop to look at this issue and say: ‘Hey, what’s going on here?'”
The developers were angry, too.
They filed a lawsuit against the city, challenging the council’s decision.
The city of Vegas, which is home to the convention centers, also filed a legal motion challenging the motion.
The real estate boomThe Las Vegas developers’ plan was doomed from the start.
In addition to the environmental issues that were raised last year and the legal challenges, the city has a huge and growing population that has made Las Cruce a city that’s very different than the one it was just two years ago.
The Vegas Strip is one of America’s most popular tourist destinations, and there’s a reason for this.
It is also one of its most densely populated.
The Las Venaga project would bring about 1.3 million more residents to Las Crucs central business district.
It will also bring an additional 500,000 people to the downtown area.
The convention center expansion is expected to bring an extra 100,000 to the area, with the casino expansion adding an additional 800,000.
It’s not just the downtown and convention center areas that are being affected by the Las Vergas project.
The downtown area has already experienced massive job losses and loss of businesses, and those have also caused massive losses in tax revenues.
For example, the Convention and Visitors Bureau has projected a $2 million loss in the downtown corridor alone.
And that’s just a projection.
The real-estate industry is expecting losses of hundreds of millions of dollars in property tax revenue.
So, how did the developers get away with it?
The developers weren’t the only ones who were making the decisions.
The state legislature also passed