312-Unit Rental Community Opens in North Las Vegas
- Oct 29, 2008
By Anuradha Kher, Online News EditorLas Vegas–Broadstone Sonata, a 312-unit apartment community located at Craig Road and Lamb Boulevard in North Las Vegas, is now open and ready for immediate occupancy. The project features one- and two-bedroom units with an average rent of $1,200.The project is being developed by Alliance Residential Co., which has invested $150 million in the Las Vegas market in the past two years. Even with all the problems in the Las Vegas condo market, Alliance believes this is a promising market for rental growth. “All things considered, our properties are seeing healthy activity,” Greg Spezzano, director of design and marketing of Alliance Residential Company’s West Coast operations, tells MHN. “However, we are worried about the tremendous amount of supply coming in. The impact of this will he short term, though.”Broadstone Sonata adds 312 multifamily units 12 miles from the Strip. The development includes a resort-style pool and spa, several tot lots, an expansive open sports field, circuit training exercise trails with multiple fitness stations, a dog park, a multimedia athletic club with free weights, extensive cardio equipment, a clubhouse with demonstration cooking kitchen, a Wii lounge for the gaming enthusiast and a multi-media cyber café with plasma TVs and Wi-Fi internet access. Interior finishes will include faux granite countertops, a Whirlpool appliance package, Moen plumbing fixtures, plush Stainmaster carpet, cultured marble vanity countertops, and private balconies and patios.“Our other new communities’ leasing efforts continue to exceed our expectations, and we anticipate a strong reception to Broadstone Sonata,” says Spezzano. “Broadstone Sonata is our fourth new development in North Las Vegas.”For example, Broadstone Azure, a 312-unit community opened in February 2008 and is located at 650 E. Azure Avenue in North Las Vegas. Broadstone Indigo, a 186-unit luxury multifamily community opened in December 2007 and is located at 675 E. Azure Ave.“Las Vegas has outpaced growth expectations more than any other metropolitan city. We believe, with all the casino growth and traffic of people coming into Las Vegas, there will be a shortage of rental apartments,” says Spezzano.