Construction projects once postponed, come alive again - 8 News NOW

Construction projects once postponed, come alive again

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Artist drawing of The Gramercy Las Vegas Artist drawing of The Gramercy Las Vegas
The Gramercy construction project The Gramercy construction project
Downtown Summerlin construction project Downtown Summerlin construction project

LAS VEGAS -- Projects, paralyzed by the economic crash, are moving forward again. That's especially true in the southwest valley where some stalled construction projects are finally being completed.

One of those projects was the Manhattan West project which was mothballed eight years ago. The project has been renamed The Gramercy Las Vegas and it's new owners are making sure it gets finished. It's a bit of the east coast brought west. Construction is moving along at the upscale development which is named after the famous New York City park.

The Gramercy is an all inclusive social setting with office space just feet away from what will be restaurants, entertainment and apartment homes.

"It stopped due to the downside of the economy," said Ofir Haguay, part owner of The Gramercy. "And what we are looking at is it changing the market, we see new projects taking place all over the valley."

Haguay and his partners bought the once doomed property out of foreclosure. Their goal was to keep the spirit of the project in mind, but to finish it and make it their own.

"All of us, the residents of Las Vegas, have seen those projects that stalled for so long, they've been an eye sore, for us, for the tourists, for the visitors that are coming to town," Haguay said.

Half a million square feet of space and several nearly finished buildings make up the opulent Gramercy. The mix of retail, entertainment and residential is a concept the current owners are confident will work. It's expected to open in in nine months.

This isn't the only place seeing development. A little further north, Downtown Summerlin, another outdoor, mixed use development consisting of residential, commercial and entertainment will open in October of this year.

Another retailer, IKEA plans to open in the summer of 2016 near Sunset Road and the 215 beltway.

Business owner Nicole Tilley is seeing opportunity around the valley and looking to expand her business.

"I think the secret's out, that obviously this valley is growing and people are very excited about new and the upcoming Vegas and what can happen here in town," said Tilley, a partner in the Echo & Rig Butcher and Steakhouse.

She looking around the valley to open her next venture and excited about the possibilities.






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