Vegas Magazine - Niche Media - There is a place beyond the crowds, beyond the ropes, where dreams are realized and success is celebrated. You are invited.
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PHOTOGRAPHY BY KSG PHOTOGRAPHY (MIRAGE VILLAS) L ong time Downtown investor Charlie Fox knows what it's like to be a pioneer. He brought live music to the Bunkhouse Sa loon in 2 0 04, when Fremont St reet wa s tough—or seemed to be. "It was challenging in terms of perceived crime," he says. Less chal- lenging for Fox, who sold the Bunkhouse to the Downtown Project in 2013, has been almost fully leasing his Downtown Spaces (dtspaces.com), a complex that opened on 1800 Industrial Road last year and briskly began signing new tenants. Rent s st a r t ing at a n a f fordable $1 per squa re foot have enticed newcomers to what's techni- cally the Gateway District, just south of the Arts District. Fox's renovated Midcentury Modern building, dat ing back to 19 64, ha s at t racted more than 40 tenants, including Naked City Audio, Las Vegas Burlesque Studio, Squa re Shoot ing Photog raphy, Br ia n Henry Design, the Construct Creative, Hunt r idge Foundat ion, a nd G.E .M. A r t ist r y St udio. G.E .M.'s Geneva E . Marquez has found success during First Fridays as well as her gallery's monthly Socia l A r t Night s, when locals are invit- ed to come in to paint and drink wine. L a s Vega s: hip- ster magnet. It's also heaven for "hipster f lippers"—rea l est ate investors look ing to buy a home and quickly resell it for a profit to this young demographic. Accord- ing to Realt yTrac, which compiles housing data, Vegas has two of the top 20 zip codes for f lipping to hip- sters: 89119 (where the average gross profit is $55,665) and 89169 (with an average gross profit of $46,708). Turnkey ranches? A new gated enclave in Pardee Homes' Durango Ranch development (pardeehomes.com), in southwest Las Vegas, is now mar- keting spacious move-in-ready resi- dences. Prices start at approximately $430,000 for the single-story houses, part of a cluster of 23 homes and a neighborhood park off Pebble Road Open Season AFFORDABLE DOWNTOWN CREATIVE SPACES, HIPSTER FLIPPING, AND WHALE VILLAS NOW OPEN TO THE REST OF USPLUS GAVIN MALOOF'S HOUSE YOYOS DOWN. BY ANDY WANG and Quarterhorse Lane, west of Durango. One 3,853 -square-foot megaresidence, a Laramie Plan C on a big cul-de-sac, has four bedrooms a nd t h ree a nd a ha lf bat hs a nd is pr iced at a rou nd $ 54 4,0 0 0. Some homes at Du ra ngo Ranch also include detached casitas and garages for up to four vehicles. Villas for all! You don't have to bet $10,000 a hand at baccarat to stay at the super-swanky Villa s at t he M irage a ny more (mirage.com). Formerly reserved for high rollers, these ultraex- clusive accommodat ions a re now ava ilable to the public. With original details that date back to the era when Steve Wynn ran the show, the suites start at $1,000 per night for a 1,750 - squa re -foot , one - bedroom Lanais. The largest units are gargantuan: three- bedroom, 4,554 - square-foot Villa s t hat st a r t at $2 , 50 0 per night. Visitors—or perhaps shor t -ter m resident s —get pr i- vacy and plenty of perks in the m iddle of t he St r ip. T here's a concea led ent ra nce, a nd t he a menit ies include backya rd pools, putting greens, and 24 - hour butler service. L ollipop L a ne. L ike t he betting line on a championship game, the asking price for Gavin Ma loof 's stor ied Sout her n Highlands mansion keeps chang- ing. Maloof, whose family is best k now n for creat i ng t he Pa l ms ca sino -resor t , now wa nt s $10. 5 million for his 27 Eagles Landing home. T he custom-built house, where rapper Lil Wayne filmed his "Lollipop" video, is listed by high- end brokers Bob and Jill Barnhart of Luxurious Real Estate (luxurious- estates.com). Maloof purchased the six-bed room, eight -bat h, 13,4 8 9 - square-foot colossus (with a 10 -car ga rage) in 2 0 07 for $10 m illion. Since June 2 011, it 's seen f ive pr ices, ra ng ing from $7.5 million to $12 m illion. V MIDDLE LEFT: A bedroom at Mirage Villas. BOTTOM: A home at Durango Ranch. TOP: Gavin Maloof's home. MIDDLE RIGHT: G.E.M. Artistry Studio. 138 VEGASMAGAZINE.COM REAL ESTATE NEWS 138_V_BOB_HPNews_MAYJUNE_14.indd 138 4/21/14 3:15 PM