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Jan. 28, 2006

juhl mixed-use project begins sales contracts

CityMark nets $51 million in first weekend

SPECIAL TO REAL ESTATE

Home shoppers from across the country and as far away as Asia vying for a spot within juhl, a mid-rise development in downtown Las Vegas, officially became buyers at the property's recent contract signing ceremony. Held at an area restaurant, the event brought in local and out-of-town buyers who signed more than $51 million dollar in contracts on condominiums, lofts and shopkeeper units within the mixed-use project.

Among those at the event were singles, couples and families of all ages and life stages, including several young professionals, local attorneys who work in the area, empty nesters, two septuagenarians, an artist who purchased a live-work unit, a couple who traveled from Asia, and a woman who bought a unit while her husband is serving in Iraq.

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"The excitement was palpable as we completed one contract after another," said Marianne Pepe, regional account manager for CityMark Development, the developer. "There were a lot of hugs, high fives and even some tears of joy from one young single woman as she signed the paperwork for her first home. She was so happy and surprised to find a home with so many desirable features in a central location within her budget."

Designed by the architectural firm Martinez and Cutri, the project includes a 15-story glass tower and five adjoining buildings of various heights and facades, occupying most of a city block.

"Even in a city of remarkable architecture, Las Vegas has never seen anything quite like juhl," Pepe said. "The response has been overwhelmingly positive toward juhl because CityMark is a company that is synonymous with successful revitalization projects, like downtown San Diego. The reality that downtown Las Vegas is offering attractive and dynamic home options is really a dream come true for residents and transplants alike -- so this event as well as the start of the backbone infrastructure on the site, just continues to heighten the very big buzz."

Interior appointments within the homes include optional walls that allow home buyers to customize living areas, floor-to-ceiling windows, exposed mechanical and concrete surfaces, energy-efficient air conditioning and heating, high-speed Internet access, granite kitchen counters, maple cabinetry, stainless steel appliances and private balconies.

Numerous on-site facilities are planned, including a two-story fitness center overlooking a landscaped rooftop courtyard with a swimming pool and spa, gated underground parking and 9,000 square feet of retail space.

The project is also located within a mile of a shopping mall, restaurants and clubs, gaming resorts, job centers and the city's arts district.

The 341 total units come in more than 100 one- and two-story floor plans, including condominiums, penthouses, lofts and shopkeeper units, ranging from 600 to a 2,500 square feet.

Prices start in the upper $200,000s.

Sales are under way at the development. To visit the information center, take Interstate 15 to Charleston Boulevard, go east to Grand Central Parkway, drive north to Bonneville Avenue and head east to the studio at 255 E. Bonneville Ave. Office hours are from 10 a.m. to 5 p.m. daily except Mondays, when they open at noon.



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