While the reminders of the economic stagnation that decimated the Las Vegas-area construction industry remain, many former and new projects show the construction boom is back.
Colliers International says more than 1.5 million square feet of space intended for industrial use is being developed in the Las Vegas area. That includes the new Faraday Future electric car manufacturing plant being built in the northwest part of the Las Vegas Valley near Nellis Air Force Base.
That electric car plant is expected to be finished in time for its first production electric car to roll off the assembly line in 2018.
Another 120-acre industrial development also got underway in North Las Vegas, where a 558,000-square-foot distribution center and 247,750-square-foot warehouse are intended, among other site developments.
In the southwest part of Las Vegas, the 9.3-acre Parc Post industrial development started up, and will include a 165,234-square-foot industrial building.
Those projects are among more than 7 million square feet of industrial developments planned in the Las Vegas Valley, and show the local construction industry has returned and likely will have staying power.
While the construction industry would seem to have recovered from the Great Recession, Lake Las Vegas also is enjoying a recent revival.
The Mediterranean-style resort village located near Lake Mead in recent years had become a bit of a ghost town, with its golf course closed and brown, and a manmade waterfall shut down years ago – until now.
The golf course is open, with sprinklers keeping its greens and fairways in lush condition. And the waterfall is flowing again, as more housing projects are planned and underway at Lake Las Vegas.
Although the Lake Las Vegas resort is a long way from fulfilling its early promise, its former casino now is used as an events center, and restaurants in its commercial center are reporting brisk business.
Many empty storefronts remain, and likely will for many more years. But interest is up in Lake Las Vegas, and discounted commercial and residential rates are helping to close new deals.
That means more developers are looking at Lake Las Vegas for new developments, renovating current locations, and more people are eyeing it as a place to live.
