New Mixed-Use Development Planned for Centennial Hills

Blue Marble, the developer of Paxton Walk, plans to open sales this fall and will begin construction in the fourth quarter.

Paxton Walk, a 31-acre mixed-use four-phase development consisting of 782 condominiums and townhomes, restaurants and storefronts is planned for the corner of Tenaya Way and Centennial Parkway near the 215 Beltway and 95 interchange. Blue Marble Development is the project developer.

Comprised of nearly two million gross sq. ft. of space, Paxton Walk features classic English-style architecture. The Townhomes at Paxton Walk include 65 residences with two floor plans with square-footages of 1,679 or 1,712. The homes have three bedrooms, two-and-a-half bathrooms, a front or side courtyard and an oversized two-car garage. The Courtyards at Paxton Walk are four-story buildings consisting of 374 one- and two-story condominiums ranging in size from 726 to 1,503 sq.-ft. surrounding swimming pools and gardens. The centrally-located Paxton Square town center will feature 96,000 sq. ft. of storefronts, restaurants and offices surrounding a 27,000-sq.-ft. courtyard focusing on landscaping, pathways and outdoor dining. Above the storefronts and offices will be additional residential space.

The upscale and luxurious amenities are designed to include more than six acres of open space including eleven courtyards, three pools, fountains and meditation gardens, two clubhouses, and two fitness centers with massage and facial rooms. The 9,000-sq.-ft. clubhouse includes a theater, billiards room and an innovative cabana room. Parking structures are tucked away and hidden from view so homeowners will be close to their front door. A primary focus of the development will be pedestrian connectivity. The layout is intended to diminish the need for automobile traffic and enhance a true neighborhood spirit.

Granite Construction Begins Work on Tracy Power Plant Expansion

Granite Construction Company has begun work on an expansion of the Tracy Power Plant. Improvements to the 9.5-acre site, owned by Sierra Pacific Power Company, will establish additional power capabilities for years to come in the growing community. Improvements to the facility, located 15 miles east of Sparks at 1799 Waltham Way, are scheduled for completion July 2007. Granite crews will complete earthwork and pour nearly 275 foundations directly next to the existing live power plant. The developer on the project is LG Constructors, Inc.

Montecito Companies Breaks Ground on Montecito Marketplace Phase II

Montecito Companies has broken ground on Montecito Marketplace Phase II after completion of Phase I. Both Phases will complete the overall $48 million, 207,765-sq.-ft. project situated on 19.2 acres at the southeast corner of Durango Drive and Elkhorn Road in Northwest Las Vegas. Montecito Marketplace is the flagship project of Montecito Companies. Phase I of the project includes 104,904 sq. ft. of retail space and is anchored by a 65,000-sq.-ft. Smith's Food & Drug. Montecito Marketplace Phase I and II have attracted national and regional tenants. The project is being developed by Las Vegas-based Montecito Companies, LLC. The architect is Vedelago Petsch and civil engineering was done by Great Basin Engineering South.

Design Begins for Spa Lofts

HCA, Inc. and Graham Downes Architecture have design underway for Spa Lofts, a new 260,000-sq.-ft., 147-unit condominium development located to the west of the strip on Rainbow Boulevard, just south of Interstate 215 in Las Vegas, Nev. HCA and Graham Downes Architecture are providing full architectural and interior design services for the project. The developer is The Light Group.

Situated on a five-acre parcel, the project encompasses two six-story wood-framed buildings around a central courtyard, and includes underground and surface parking. The minimalist-style buildings feature inward-facing living rooms and balconies designed to take advantage of the spa-like courtyard environment, while the upper units will have expansive windows offering views of the westerly mountains and the Las Vegas strip to the east.

assemblageSTUDIO is serving as design consultant. Construction is scheduled to begin in January 2007, with completion scheduled for December 2007.

Superior Development Group Announces Plans to Develop Casinos

Superior Development Group, Inc. has entered into a memorandum of understanding to acquire a 60 percent interest in Triad Resorts, LLC, a Nevada Limited Liability Corporation that is developing casino and hotel properties for the resort destination gaming industry. Under the agreement, Superior Development will become the lead developer with a 60 percent ownership interest in Triad's planned Casino Resort developments in Jackpot, Elko and Wendover, Nevada.

Triad's first project is scheduled to be in Jackpot and will be built on 113 acres of land controlled by Triad and properly zoned for the development. It will consist of a four-star condo/hotel featuring 301 rooms, a 50,000-sq.-ft. building that will include a casino, spa and salon, three restaurants and gift shops, an indoor 30,000-sq.-ft. water park, and an RV park with 80 full-service spaces. Also included will be an indoor climate controlled center that features bleacher seating for up to 4,000 people, as well as floor seating for 1,200 people and an outdoor multi-use arena featuring 100 indoor stalls and four concession stands.

Financing for each casino development is anticipated to be financed by senior debt of 65-70 percent of cost, a mezzanine loan and equity from Superior

Development from the sale of convertible-preferred or common stock via a private placement. Under the Agreement with Triad, Superior Development will earn development fees estimated to be $18 million for each casino, payable during construction of the casino as well as 60 percent of the revenue stream estimated to be $35 million EBITDA for each casino operation. All three resorts are estimated to be operational in 24 to 60 months.

JVC Architects to Design Chapel for Salvation Army

JVC Architects, a Las Vegas-based architecture firm specializing in religious design, has been contracted by the Salvation Army to design a chapel on its Las Vegas campus, located at 37 Owens St. The 5,000-sq.-ft. chapel will feature a simple contemporary design consisting of a bell wall, sanctuary, small prayer room and support facilities.

The project will include the demolition of an existing chapel. The main challenge JVC Architects faces in designing the chapel is in creating harmony between the chapel and its surrounding environment. To achieve this, the firm plans to incorporate exterior courtyards in the design. Total project cost is $1.4 million and is scheduled for completion in Summer 2007.

Granite Completes One of
the Largest Round-a-bouts
in the Western U.S.

Granite Construction Company has completed two projects totaling $16.7 million with the Nevada Department of Transportation. The projects included construction of two area bridges, including one of the largest round-a-bouts in the western United States. Improvements to the sites were designed to help relieve commuter traffic congestion from Fallon to Reno and thru Fernley.

Construction of two bridges, located along U.S. 50A near the Fernley/Fallon Interchange and along U.S. 95A at the Truckee Canal Bridge, began May 2005. Granite crews worked to coordinate construction on the two bridges simultaneously in order to maintain the project schedule and manage costs.

Project details included the demolition of existing bridges and replacement with improved structures. The projects required 40,000 cu. yds. of excavation, 80,000 cu. yds. of borrow, 28,000 tons of plant mix and 4,200 cu. yds of concrete.

Boca Raton Luxury
Condominiums Tops
Off Phase One

Boca Raton Luxury Condominiums has topped off Phase One and is on schedule for a completion date of January 2007. Phase One consists of the first two buildings including 378 homes and a 10,000-sq.-ft. luxurious clubhouse.

During construction thus far, Boca Raton has required approximately 15,000 cubic yards of concrete, 2,000 tons of steel and 250,000 hours of labor. The next step of construction for phase one is the installation of the exterior skin, roof installation, installation of mechanical equipment on the roof, interior framing and mechanical, electrical and plumbing configuration. Boca Raton Luxury Condominiums are located on the South Strip. Prices range from the mid $300s to more than $1 million. Boca Raton is being developed by Palm Beach Resort Condominiums, LLC.

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