CityMark Development said the pace has picked up at its juhl project, as construction financing for the mixed-used development in downtown Las Vegas has been finalized and work begins on the foundation next week, according to company President Rich Gustafson.
The developer joined with Toronto-based Tricon Capital and Chicago-based Corus Bank to fund the project, estimated at more than $176 million.
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"Las Vegas home shoppers have been anticipating the arrival of this stylish urban dwelling," Gustafson said. "Now that we have teamed up with Tricon and Corus Bank, juhl will become a reality in the heart of downtown Las Vegas."
Corus Bank will provide more than $100 million for construction funding, according to Jason Ballow, vice president of finance for the developer, who expected the deal to close by the end of the week, to be followed immediately by construction activity.
To celebrate the milestone, the developer announced it will host a kick-off ceremony June 29 with local dignitaries on the site, located at the corner of Bonneville Avenue and Fourth Street. The event, which starts at 10:30 a.m., will be followed that evening with an event at the project's information studio.
Preconstruction pricing remains available, according to the developer, starting from the high $200,000s.
The mid-rise development features buildings ranging from six to 15 stories. A glass-enclosed lobby serves as the entry to a variety of lofts, townhouses, flats and penthouses, ranging in square footage from 616 to 2,500. More than 100 floor plans are available and wall options are available.
Loft units with exposed mechanical and concrete surfaces feature 10-foot floor-to-ceiling windows, private patios or balconies, energy-efficient air conditioning and heating, high-speed Internet access and chrome plumbing fixtures. Kitchens come with granite slab counter tops, island workstations, breakfast bars, maple cabinetry and stainless steel appliances.
Resident amenities will include a two-story fitness center, landscaped rooftop courtyard with a 75-foot pool, spa, and a ninth-floor viewing deck, gated underground parking and 24-hour security.
To visit, take Interstate 15 to Charleston Boulevard and head east to Grand Central Parkway, then head north to Bonneville Avenue and go east to 255 E. Bonneville Ave. The office is open from 10 a.m. to 6 p.m. daily except Mondays, when it opens at noon.
