Saturday, March 17, 2007

Las Vegas Real Estate News- Verge Condominiums

News from Diann Tonnesen in Las Vegas...

VERGE, downtown’s newest mid-rise, mixed-use condominium community, had its Grand Opening ceremony on Thursday, March 15th. Mayor Oscar Goodman was there for the ribbon cutting and to give his insights on the exciting downtown redevelopment. Mark Stark, CEO of Prudential Americana and Darren Dunckel, the developer, were keynote speakers talking about VERGE's potential as part of the new downtown urban living environment.

Downtown Las Vegas is currently undergoing an epic $14 billion revitalization to cultivate the first pedestrian-friendly, urban experience Las Vegas has ever seen. This comprehensive plan consists of new commercial, residential, retail, live-entertainment and dining establishments for the local patron to live, work, and play. VERGE, one of the first downtown Las Vegas condos to be finished, will be affordably priced from the mid $100s.


At the VERGE ceremony, housed under a massive white tent, hundreds downed free drinks and crab cake hors d'oeuvres while waiting in line to tour unit models in Verge's sales office. The crowd - 1,200 people RSVP'd for the party - was younger, maybe "hip," and definitely serious, with lots of talk about buying a condo for investment or living. And unlike the scene at similar parties for the multiple other condo projects around the city, this one was decidedly local. That, said Lance Bazil, director of sales, is what Verge was hoping for. "Our marketing campaign said, 'Before we go public, we go Vegas,' " Bazil said. "When you look at high rises going up, a majority of them, if you drive by at night, there are no lights on.

VERGE’s location is walking distance to all the action, including the newly renovated Fremont Street casinos, the Block, Union Park’s World Jewelry Mart and World Market Center, the Smith’s Performing Arts Theater, The Lou Ruvo Brain Institute, Fremont East’s Entertainment District and much more.

VERGE’s 296 residence community offers the latest in modern living, state-of-the-art architecture and design. There are 39 impressive floor plans including studios, one, two, three bedroom condominiums and spectacular lofts with 23-foot ceilings. Many residences have remarkable views of Downtown Las Vegas. Other onsite amenities include 2 rooftop pools; rooftop restaurant; on-site boutique grocery store; indoor racquet ball courts; fitness center with steam and locker rooms; secure access-controlled underground parking and entry; and a rooftop pet park.

The VERGE development was inspired when the developer found an architect whose patent-pending design for modular building would decrease construction costs 30 percent from comparable projects. The preformed sections, carried to the site and put together like a puzzle, also speed up construction without sacrificing structural quality. Some estimates have put construction time for the building at just over 12 months, a record for any condo project in the Las Vegas real estate community.

Starting Monday, March 19th, VERGE will be accepting first round reservations with a refundable deposit of $2,000. Unit selections and contracts will take place sometime in late May or June, at which time first round reservation holders, as a special incentive, will only need the balance of a 5% total down payment until close of escrow which is estimated to be in late 2008.

To view sample floor plans and estimated price ranges, please go to: VERGE floor plans.
To register for the VERGE Priority Interest List, please go to: VERGE VIP Registrations.

Or for immediate assistance, please call the Tonnesen Team of Prudential Americana Group Realtors at 702-985-7654.

VERGE is being marketed by the Prudential Americana High Rise Division.
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