April 19, 2019
The Ogden, a 21-story high-rise condominium tower in the heart of downtown Las Vegas, is nearing sell-out with fewer than 40 condos remaining. According to Uri Vaknin, a partner at KRE Capital LLC, which acquired The Ogden in 2013 as DK Las Vegas through a partnership with Dune Real Estate Properties, the downtown lifestyle has long been a draw for Ogden residents seeking an urban environment. Brimming with restaurants, museums and only-in-Vegas attractions, Downtown Las Vegas is also abuzz with new development, fueling its ongoing renaissance.
“While downtown’s revitalization began years ago with the opening of The Smith Center for the Performing Arts, The Mob Museum, the Neon Museum, a new City Hall and the relocation of major companies like Zappos.com to the area, there is a new spate of development creating buzz, energy and anticipation,” Vaknin said. “The ongoing investment in downtown speaks volumes about the area as not only a destination for the millions of tourists who consider the area a must-see, but also for the growing number of residents who crave an urban lifestyle.”
According to Vaknin, among the area’s most exciting new projects is Circa Resort, the first casino-resort built from the ground up in downtown Las Vegas in three decades and scheduled to open in 2020. Downtown Grand, another casino-resort in the area, is undergoing a significant renovation by adding a new tower that will also open in 2020.
A $25 million upgrade to two major streets — Third Street and Sixth Streets — is now underway to transform two important stretches of downtown roadways into complete streets, adding sidewalks, landscaping and architectural details. A second and recently completed $36 million roadway makeover to Main Street significantly enhanced and improved the commercial area near Main and Commerce streets.
At World Market Center, plans are in the works to add 350,000 square feet of exhibit space that will attract even larger home furnishings and gift expos to the area. And, at Symphony Park, home of The Smith Center for the Performing Arts, not one but two new mixed-use residential and retail projects are in the planning stages.
“Together, all these exciting developments represent collective confidence that downtown Las Vegas is continuing to evolve as the true center of the city, underscored by significant investment in the area,” Vaknin said. “Ultimately, it’s about creating places where people want to live, and these projects, combined, go a long way in improving the area, attracting additional investment and, of course, more residents.”
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