Las Vegas, NV
Las Vegas seems to get a new skyline every decade. The area’s casinos, convention centers, and resorts are known across the world and must constantly reinvent themselves to keep their appeal.
The money flowing in from the more than 30 million people who visit in a typical year supports them. Accommodating this many people is a massive part of the local economy and is a key driver of the area’s construction market.
Over the past year, there has been an increasing volume of new developments under consideration along the strip and elsewhere. As in other cities across the US, the CRE market is under stress with a combination of high construction and land costs and limited availability of funding for new developments.
* Other structures include religious buildings, amusement, government communications, and public recreation projects.
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