[kttam186290]

Originally Posted by Kitchen Witch

You live in California so why are you so upset about what goes on in Henderson? You keep trying to work everybody up over it?

I've always had my eye on Las Vegas for future retirement someday. That's about 20 years off. By the time I reach that age, I don't want it to look like Detroit or New Orleans. That's my fear. I'm different from 75% of the rest of the public in that I think long-term and have future time orientation.

Blessing to you too!

Originally Posted by Kitchen Witch

Yet another developer is building an extremely high end single family home neighborhood in Summerlin as well, houses start at 1 million. You think Section 8 is going there too?

Section 8 is already in Summerlin now. It was a contributory factor in what ruined the San Gennaro Festival this year. Yes, they're building million dollar houses in Summerlin to market to wealthy Californians -- as if a wealthy Californian is going to want to put up with this when they leave their guard-gated neighborhood???

Teens cause disruption at San Gennaro Feast Saturday night - Las Vegas Sun News

If I was a millionaire, I'd rather stay in LaJolla, Laguna Beach, Encinitas or Pacific Palisades where I didn't have to put up with things like this.

[WestieJeff]

Section 8 voucher won't even come into play with those units. It's up to the landlord if they choose to accept Section 8, I doubt may would in that type of unit. If they did, there are still rent caps that come into play which would likely may it unrealistic for Section 8 to be used.

$2,500 is a bit pricey, but $2,000 is not that bad. Homes in Anthem rent for that regularly and not everyone wants to have the upkeep and overhead of a home. Some will like the ability to walk to whole foods and various shops close by.

The area on Paseo Verde between Valley Verde and Green Valley is IMO one of the nicest areas in all of Henderson. There are huge running trails and three or four parks right there. That's right in the backyard of this development.

I suspect this will have no problems renting and people will be happy living there. Majority of my friends are dual income professionals for which $2,500 rent is not a problem if they desire to live that way in that area.

[Threestep2]

You get excited about rent in a complex not yet build because you plan to retire in that town when? 2034!!!
So it is a new development bordering on some amenities and the rent is too high according to you.

[SoHoVe]

I'm interested to see what these units look like once this is completed.

[BBMW]

If they're building apartments to rent for big numbers, they're not aiming them at the section 8 crowd.

Originally Posted by kttam186290

Exactly my point. And that's an extremely narrow market!

And if you can afford a half-million dollar mortgage, why wouldn't you just buy a house? You can pay $2,000 to $2,500 a month in space rent and live in a mobile home in Newport Beach, Calif. for Heaven's sake! I've seen the listings with my own eyes!

Why would one pay that much and live in an apartment in Henderson? If Zappos were still in Henderson, I could maybe see the justification, but it moved downtown. What's the draw? Whole Foods?

Mark my words, these apartments will end up ruining that area. Once you get a housing voucher you can take it anywhere in the country and the word is now out about Las Vegas amongst that subset of the population.

Here in California, we've learned our lesson with apartments and a lot of our cities are buying apartment complexes and tearing them down completely, NOT building them! What goes in their place? Usually condos with self-contained parks and HOA fees.

When will these developers in Las Vegas wake up and realize that making a little money up-front isn't always the best thing for a community in the long run?

[Clarkcty]

Originally Posted by kttam186290

Oh, trust me...I "get" it. I've been studying Nevada development models and state politics for the past 15 years now before you got a glimmer in your eye to relocate from Rhode Island. My parents and I lived in Las Vegas briefly when I was a teenager about 20 years ago.

The developer won't be the one to "take a hit", it will be the community there. No developer ever "takes a hit". Ever.

If someone from California wanted a Vegas pad and had that much to drop every month, they'd be looking at Turnberry Towers, or The Martin, not a place 15 miles out in Hendo! Trust me on that.

If he can't fill those apartments with these mythical creatures some of you seem to believe in -- the Californian who's supposedly willing to pay $2-2.5k to have a pad a good 15 miles out from the Vegas Strip -- then he will market them to low-income voucher holders and groups of 'tweens' wanting a party pad outside of mom and dad's neighborhood.

Yet, not a word of opposition is raised, which is what seems to be really perplexing to me That there is a lack of opposition to things like this is really what I "don't get". There's this complacency in the air all over the Las Vegas Valley and that's what will end up ruining the quality of life there.

People where I live would be screaming at the top of their lungs if something like this was to happen.

It's all about money, the community be damned. It will be those remaining home owners of Green Valley and the rest of the city of Henderson that "take a hit" when crime goes up, people start getting mugged and the quality of life deteriorates.

I guess there's no sense in banging my head against the wall (in frustration) over this.

Yes, it's always the surrounding community that gets the consequence. In Clark County nearly half of the residents are renters. Developer will get their tenants, I doubt many will want to pay $2,500 to rent an apt especially far out in the District, people will have to drive to the Strip to work, its a distance and many of the people working in retail/dining at the District, cannot and will not shell out $2,500 for an apt. The developer may have to adjust the rental rates.

[MadManofBethesda]

Originally Posted by kttam186290

If you have a Section 8 voucher, the government will pay 2/3rds of your rent for you, which would then make it affordable.

Originally Posted by kttam186290

Mark my words, these apartments will end up ruining that area. Once you get a housing voucher you can take it anywhere in the country and the word is now out about Las Vegas amongst that subset of the population.

Originally Posted by kttam186290

$2,000 or $2,500 a month to live in Henderson in an apartment that happens to be near a Whole Foods is outrageous, no matter how you try to justify it.

You are vastly uninformed about not only the real estate market in Las Vegas in general, but also about how Section 8 housing vouchers work in particular. Among other things, HUD's fair-market rent for a 2br in Clark County is $1,038, so nobody is going to be using a voucher to live in a $2,000 apartment. And anyone who met the income limits for Section 8 would neither have the income to make up the difference nor even be allowed to under HUD's regulations.

With respect to real estate in general, two-bedroom condos in the District itself are currently for sale in the $350k-$400k range, so rents of $2k-2.5k are perfectly reasonable there (not that I would rent or buy there).