When AmLand Development announced in 2001 its intent to build Park Avenue south of the Strip between Pebble Road and Serene Avenue, the mid-rise project was a tough sell, according to Chet Nichols, vice president of the company.
He said financing was tough to come by, appraisers could not come up with reasonable values, and local buyers did not know how to approach the new product at the outset. Local subcontractors did not know how to build it, Nichols pointed out, and even county officials seemed to approach the product as a conundrum. To make matters worse, the project's second sales phase came in mid-September 2001.
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Despite a difficult beginning, the developer began construction in mid-2002. Over time, conditions improved and Nichols said buyers found the location irresistible.
Nichols and business partner, Wayne Krygier, then looked for a new location closer to the Strip for their follow-up project, ONE Las Vegas Lifestyle Condominiums, which Nichols described as "on the Strip but not in the Strip."
The project will comprise a boutique hotel fronting Las Vegas Boulevard, two restaurants, five residential towers and a package of on-site amenities.
A south tower will consist of 215 condo-hotel units; a north tower will feature 71 luxury units.
Fourteen floor plans range from 830 to 2,850 square feet with one to three bedrooms and one to 3 1/2 baths.
