Construction started on mid-rise luxury condo project The Mercer in southwestern Las Vegas
Work has begun on another mid-rise condo project in southwestern Las Vegas. The Mercer will feature 113 units and is located on Tropicana and Grand Canyon Parkway.
Unlike other mid-rise and high-rise projects that have been delayed by financial difficulties, The Mercer is fully financed by First American Bank in Chicago. The $50 million project has begun construction.
The five-acre site is being graded and having underground utilities laid out by Chicago-based JDL Development. It is 50 percent sold and expected to reach occupancy next summer.
Despite the number of foreclosure in the valley, mid-rise luxury condo prices haven’t been reduced. A two-bedroom, 1,400 square-foot unit at The Mercer is priced at $422,000 and a three-bedroom 2,370square-foot unit will cost $748,000.
Read the original Review Journal article here.
