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>> DALE: Good afternoon. This is Dale Snyder with The Snyder Group at Keller Williams Realty,
here in Las Vegas, Nevada.
I'd like to share today with you a little bit about the mall going in by Red Rock Casino
in the Summerlin West area. As many of you have probably seen, there's been about 6-7
floors of steel that's just been sitting there of years.
Well, I just want to share with you on the size of the project and what to be expecting
on the coming months and years.
[music]
As far as the area, the mall itself is a big city block. It's going to be comprised of
about 2 Million square feet. To give you perspective on it, any of you who have been to Green Valley
Ranch, in the district over there, that is I believe about maybe 500,000-600,000 square
feet. I could be off a little bit but this project is supposed to be about 4 times the
size of the Green Valley Ranch in district area.
To put it in perspective its just a very big bowlish project. It was supposed to be completed
in 2006, you know when we were in the old world [quick laugh], now that we're in the
new world things have changed.
As many of you have seen, it's being built in phases now. They started by putting in
that - I don't know what building it's called but UBC is in there and some other
financial services. And then they put in lifetime fitness. So they're doing it in smaller
phases.
The biggest issue that delayed the project was the anchor tenants. You see, they can't
get loans on a project like this without the anchor tenants signing the lease. And this
whole project was anchored upon 5 to 6 tenants signing on.
Well, they've officially got Macy's, Dillards, and I believe,Robinson's and May have signed
on as anchor tenants. So they're going to begin the construction of these large anchor
department stores this Fall. Once it's completed there's going to be 200-300 stores, a theatre,
obviously a Red Rock Casino.
It's just going to be a beautiful hub in the center of Summerlin. It should really
help in the appreciation of the housing values and just offer a lot of entertainment for
people travelling through town and the locals.
So, I would it expect to see it being done in phases rather than the whole project at
once.
So I hope this information was of value to you going over the Red Rock Mall and what's
to come in the next several years with the project.
This is Dale Snyder with The Snyder Group at Keller Williams Realty. If you like the
video make sure to "Like" it. I look forward to comments from you and make sure to share
it with friends and family if you found value in the video.
Have a fantastic day.