Although Rosemont owners are not willing to sell their interest in this land, Sands is expected to purchase the airspace directy above stores that are planned for construction.

If this transaction goes through, it will be one of the few times airspace has been purchased and sold in Las Vegas. Many wonder if city inspectors will allow it.

Residential development company, Alliance Residential Co. of Phoenix, Arizona, is responsible for the development of approximately 3,000 apartment units currently occupied in Las Vegas. In spite of current real estate market conditions, Alliance is following the lead of commercial developers engaged in massive development on the Las Vegas Strip, and proceeding with plans to develop residential apartment buildings. Their current project, a 312-unit apartment building planned for construction in North Las Vegas, is scheduled to begin occupancy in January 2009.

The confidence of Las Vegas rental property developers to commit resources to such projects amidst the current economic situation is closely related to the massive development seen on the Las Vegas Strip.  The current level of construction of resort, high rise and condominium properties means thousands of jobs in the present, and thousands of jobs following completion.

Some projections accounting for the unprecedented number of hotel rooms and convention space planned for completion in the near future could mean a population growth rate in excess of 12% in Las Vegas.

Alliance’s rental development, Broadstone Sonata, located at the corner of Craig Rd & Lamb, will offer amenities you would expect from the best Las Vegas offers. Planned features include:

• Resort-style pool and spa
• Several children’s playground
• Sports field
• Circuit training excercise trails with fitness stations
• Athletic club with free weights and cardio equipment
• Clubhouse with demonstration cooking kitchen
• Multimedia cyber cafe with plasma TVs and WiFi