[valdezi]

Las Vegas Nevada Condominiums - Home - Meridian Private Residences

Hi, I was wondering what the status of this condo development was. I can't find a lot of information about it. I've seen a lot of them listed and as far as I can see, I like the location a lot and the prices for what they're going for. I had heard something about a litigation, but I generally don't know anything. I called their office and have yet to get a return phone call. If anyone has any valuable knowledge, I would greatly appreciate it!

[zenaforever]

Originally Posted by valdezi

Las Vegas Nevada Condominiums - Home - Meridian Private Residences

Hi, I was wondering what the status of this condo development was. I can't find a lot of information about it. I've seen a lot of them listed and as far as I can see, I like the location a lot and the prices for what they're going for. I had heard something about a litigation, but I generally don't know anything. I called their office and have yet to get a return phone call. If anyone has any valuable knowledge, I would greatly appreciate it!

Nice condos but in a bad location. I would not live anywhere near Koval.

[olecapt]

Search LV with Meridian and you will find a set of posts.

Basically a set of significant problems. Sold to people as a condo hotel though it lacked the proper permits to operate that way. It also has a dispute with the developer who apparently maintained control of the main entrance and has now blocked it off as the HOA did not pay him.

Has all sorts of possiblities of ending up in court or having the HOA go bankrupt.

It is a convenient location for strip access and may work out over time. However it may also be tied up in litigation for years yet.

[dance_or_REBEL]

Warning: Don't move there, that place has run itself into the ground with a terrible HOA, and new property management AND Horrid security. Beside all the other 100 problems I can list.
I moved out of that hell hole awhile back when it was getting worse. Towards the end of my lease, I've had to call the police so many times, it's not even funny.
They rent to hoarders, squatters, psychos and methheads. My neighbor I swear was running a methlab with his skanky wife and kid downstairs. The security lets anyone in. There were parties at the pool 24/7, with either LOUD hispanic music or equally LOUD country music.
The gym was over taken by roided up(found a needle in the gym) Tapout guys who started fights all the time. Very rednecky and ethnic place. It's a shame because the complex itself was great. Just poorly run and like I said you won't feel safe, guy or girl living here. Too much drugs and trash.

[007 license to sell]

Originally Posted by valdezi

Las Vegas Nevada Condominiums - Home - Meridian Private Residences

Hi, I was wondering what the status of this condo development was. I can't find a lot of information about it. I've seen a lot of them listed and as far as I can see, I like the location a lot and the prices for what they're going for. I had heard something about a litigation, but I generally don't know anything. I called their office and have yet to get a return phone call. If anyone has any valuable knowledge, I would greatly appreciate it!

The county shut down Meridian's illegal hotel, the developer had sold the units telling buyers they could do short term rentals and make allot of money, the developer never was licensed as a short-term rental property. So owners ended up walking away from their units because the couldn't afford to keep them. A lawsuit filed by 40 owners of units at the, Meridian condo property as of last year I don't know how many are involved now or if it was ever settled. Original plaintiffs have compiled stacks of their own research to support the claim that several types of fraud, including mortgage fraud, took place at the 16-acre, lushly landscaped property.
The last I heard the developer was contesting the allegations. It is really close to the strip I had a client that rented in there even after I warned her about the problems and luckily the lease was only for 3 months because the owner of the unit didn't pay their utilities which was included in the rent and my client came home and found no electricity or gas. She called the property manager and the property manger had the utilities restored at the property mangers expense. My client only wanted to rent there to see if she would like it before she purchased in there. Need less to say she didn't purchase there we found allot nice property in Henderson for her.

While my client was there an Illinois-based company, which owns the tiny parcel on which the Meridian driveway sits, erected the blockade because it hasn't received rent for almost a year, a condo owners didn't know that the Meridian, at 270 E. Flamingo Road, doesn't legally own its own driveway. So she had to use the back entrance which it's 5 months later and residents can't use the front gate. I hope this anwers your question.

[Swigchow]

This is a great time to rent at the Meridian. Investors have swarmed the complex and purchased up the REO's. Now there are over 70 available rentals, and 30 more units to close. Rents have to be tumbling down.

[olecapt]

Originally Posted by Swigchow

This is a great time to rent at the Meridian. Investors have swarmed the complex and purchased up the REO's. Now there are over 70 available rentals, and 30 more units to close. Rents have to be tumbling down.

A bloodbath coming it sounds like. Lots of monthly rentals. Asking rates way too high for locals. Appears 4 rented in September.

Won't rent for their monthly costs I don't think. How long will the "investors" hang on at a monthly loss. Note the HOA fees are not small.

Now if they could get the hotel bit to work...If only...

[trackie]

I was thinking about renting a condo in the Meridian but now I'm nervous. Is it really that bad? I was going to live there by myself and I don't want to be in an unsafe place.

[Leachyboy]

Originally Posted by trackie

I was thinking about renting a condo in the Meridian but now I'm nervous. Is it really that bad? I was going to live there by myself and I don't want to be in an unsafe place.

Hey Trackie.

I have recently purchased a unit in the Meridian and am in the process of trying to rent it and just got back from staying there with my gf and parents. As I understand talking to some of the people who have lived there it was not great about 6 months ago but has improved dramatically. I can not verify this as I was only there for a short 6 night period.

However we were all [FONT=Verdana]pleasantly[/FONT] surprised at the unit and the grounds and thought the security was very good. They still have some issues but based on the new HOA board it seems they are working there way through them. The location was great, especially for the strip, and we did not feel unsafe at any time.

Pool area was very nice and not busy at any time during our stay. There are definitely many units going through new ownership and many were being renovated while we were there. I see things getting better as more units move into stable hands. Rents are probably at the low right now so it could be a good time to sign up.

Anyway hope this helps.