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Monday, May 04, 2009

ManhattanWest Photos

by Calculated Risk on 5/04/2009 04:23:00 PM

This isn't breaking news - just a couple of photos from reader Anthony of the ManhattanWest project in Las Vegas (photos taken yesterday).

ManhattanWest Las Vegas Click on graph for larger image in new window.

Photo Credit: Anthony.

Construction was halted on ManhattanWest in December.

From the Las Vegas Review-Journal in March: ManhattanWest latest casualty of crisis

ManhattanWest, a $350 million development that would include 700 condo units, restaurants, offices and shops on a 20-acre site near Las Vegas Beltway ... Gemstone topped off the nine-story Element House at ManhattanWest in August. The mid-rise residential buildings are about 80 percent finished.
ManhattenWest isn't the only halted project in Las Vegas:
Last year, Mira Villa condos and Vantage Lofts stopped construction and went into bankruptcy. Sullivan Square had barely begun excavation before the project was canceled. Spanish View Towers was the first high-rise project to stop construction after partially building an underground parking garage.
ManhattanWest Las Vegas The second photo shows the only activity at the site; a security guard relaxing in the sun.

There are halted condo projects in many cities - and this is inventory that will some day come on the market. Note: as a reminder, high rise condo inventory is not included in the new home sales report - so this is additional inventory that is sometimes overlooked.