Juhl (Las Vegas)

Last updated
Juhl
Juhl in Las Vegas (2020).jpg
Juhl residential buildings in 2020
Juhl (Las Vegas)
General information
TypeCondominiums, retail, restaurants
Location Downtown Las Vegas, Nevada
Address353 East Bonneville Avenue [1]
CountryUnited States
Coordinates 36°09′49″N115°08′47″W / 36.163681°N 115.146469°W / 36.163681; -115.146469
GroundbreakingMid-March 2006
Topped-outAugust 2007 (15-story tower)
OpenedJune 2009
Cost$178 million
Design and construction
Architecture firmMartinez + Cutri Corporation
DeveloperCityMark Development
Structural engineerGlotman Simpson
Main contractor Turner Construction
Other information
Number of units344

Juhl is a mixed-use property in downtown Las Vegas, Nevada. It features six residential buildings, including a 15-story condominium tower, in addition to restaurants and retailers. Groundbreaking took place in 2006, but construction delays pushed the opening back more than a year. It opened in June 2009, with 341 condominium units, but buyers had difficulty finalizing their condo purchases due to the effects of the Great Recession. In 2013, Juhl's 306 unsold units were sold to a partnership of companies, which turned them into rentals and, in 2017, began putting the rental units back up for sale as condominiums.

Contents

History

Construction

The 2.4-acre (0.97 ha) [2] property, located in downtown Las Vegas, was initially occupied by four houses. The Las Vegas Redevelopment Agency solicited proposals from approximately a dozen companies across the United States to develop the land. [3] [2] CityMark Development, of San Diego, [4] was ultimately chosen in 2004. [3] [2] CityMark purchased the property for $5.2 million in 2005, [5] [6] and planned to build Juhl, a $167 million mixed-use and condo project. Juhl would include six towers, standing between six and 15 stories, with a total of 341 condominium units. The project would include 24,000 sq ft (2,200 m2) of retail space, while parking would be located on the first five floors. [3] CityMark had previously reinvigorated San Diego's downtown Gaslamp Quarter area. [7] [6]

Groundbreaking took place in mid-March 2006, with the opening scheduled for April 2008. [6] The houses on the property were demolished, and by April 2006, $600,000 of underground work and the relocation of utilities had begun on the site. Turner Construction was the general contractor, [3] while San Diego–based Martinez + Cutri Corporation was the architect. [8] [6] Glotman Simpson of Vancouver was the structural engineer. [6] Corus Bank provided $106 million to fund the project. [9] In August 2006, 600 cubic yards of concrete were delivered by more than 75 trucks for the foundation of the project. [10]

The target demographic consisted of young professionals who desired to live near the Las Vegas Arts District. [11] In December 2006, approximately 60 percent of Juhl's units had been sold through binding purchase agreements. [8] Many of the buyers were people who worked downtown, such as lawyers and judges. [4] That month, construction crews poured the third and fourth floors of the residential and parking structures for the project. Approximately 115 construction workers were on the site at that time, with the number expected to increase to 200 to 225 within the following 15 to 18 months. [8] In July 2007, several businesses were being planned for the new project, including a bar, a coffee shop, and a jewelry store. [12] Three cranes were used during construction of the 15-story tower, [13] which was topped off in August 2007, with the first residents expected to move in by May 2008. [2] At that time, 70 percent of Juhl's units had been sold. [14]

Juhl remained under construction in June 2008. [15] The planned opening was delayed by more than a year, [16] due to construction issues. A person involved in the project said there were significant engineering issues on the project: "There was no post-tensioning or reinforcing steel to support the concrete. The floor slabs deflected two to three inches between the columns. It was so bad that the glass didn't fit, the interior walls were cracking, and water lines were breaking." CityMark said the delay was due to "typical" project delays, while the Las Vegas Redevelopment Agency said that minor and major structural modifications were made to the project. [6]

Operation

Juhl ultimately opened in June 2009, with little fanfare. The project was valued at $178 million. As a result of its delayed opening, the project suffered the effects of the Great Recession. [6] Juhl featured 341 units, [17] but only 21 units (six percent) had closed escrow, and CityMark began offering discounts to buyers who did finalize their purchases. [6] Much of Juhl's retail space was also vacant. [18]

ST Residential, at a cost of $14 million, [19] purchased the project after the failure of Corus Bank in September 2009. [1] [20] In August 2011, Juhl still had 307 units left unsold. [21] In 2013, ST Residential sold Juhl's 306 unsold units to a partnership between KRE Capital, based in California, and Dune Real Estate Partners, based in New York. [1] [22] The companies purchased the units under the name DK Las Vegas. [23] Juhl's unsold units were turned into rentals, [1] and the property was 95 percent occupied as of 2015. [24] In 2016, the Juhl began offering an artist-in-residence program. [25] [26]

On March 23, 2017, it was announced that Juhl's unsold units would be put on sale in late April 2017, while renewing some rental agreements to keep the building occupied. [1] [27] In 2018, the Juhl partnered with The Believer to begin a writer-in-residence program on the property. The program allowed writers to live and work in a Juhl loft with an attached studio. [26]

Features

Juhl has a total of six residential buildings, which connect to each other. [6] The Juhl property spans a city block, and includes 344 condominium units, [28] some of which are located within the 15-story tower, the tallest building on the site. Units range from 600 sq ft (56 m2) to nearly 2,000 sq ft (190 m2). [1] The 10th floor features a lounge known as Vino Deck. [23] Juhl also includes a pool, an outdoor movie theater, and a CrossFit gym. [29] A bike store opened at Juhl in 2013. [30] In 2015, lease agreements were signed for six businesses – including restaurants and retailers – to open at the base of the complex. [24] A 20,000 sq ft (1,900 m2) area on the ground floor, known as The Promenade at Juhl, celebrated its opening on November 17, 2016. [31] It contains various businesses, including restaurants and retailers. [32]

Related Research Articles

<span class="mw-page-title-main">Trump International Hotel Las Vegas</span> Hotel in Las Vegas, Nevada USA

The Trump International Hotel Las Vegas is a 64-story hotel, condominium, and timeshare located on Fashion Show Drive in Paradise, Nevada, US, named for part owner Donald Trump, who was later elected president of the United States. It is located down the street from Wynn Las Vegas, behind the former site of the New Frontier Hotel and Casino on 3.46 acres (14,000 m2), near the Fashion Show Mall, and features both non-residential hotel condominiums and residential condominiums. The exterior glass is infused with gold.

<span class="mw-page-title-main">The Signature at MGM Grand</span> Condo-hotel at the MGM Grand resort in Paradise, Nevada, near the Las Vegas Strip

The Signature at MGM Grand is a condo-hotel at the MGM Grand resort in Paradise, Nevada, near the Las Vegas Strip. It consists of three towers, each 38 stories in height, with a total of 1,728 units. MGM Mirage and Turnberry Associates partnered to develop the project, which was announced in 2002. Construction was underway in 2004, and the first tower opened in May 2006. The project was built on land previously used by the MGM Grand Adventures Theme Park.

<span class="mw-page-title-main">The Ogden</span> Condominiums in Nevada, United States

The Ogden is a 21-story luxury condominium tower located at 150 North Las Vegas Boulevard in downtown Las Vegas, Nevada. The Ogden was announced in 2004 as the Streamline Tower condominium project, to be built on the former 1-acre (0.40 ha) property of the Golden Inn motel, which was demolished at the end of the year. Work on the property began in 2005, to prepare it for the new project, which began construction the following year. The project was financed by Corus Bank, and was developed by a half-dozen investors, including Las Vegas Stars baseball player Dusty Allen.

<span class="mw-page-title-main">Panorama Towers</span> Luxury high-rise condominium complex

Panorama Towers is a high-rise condominium complex located in Paradise, Nevada. Developed by Laurence Hallier and Andrew Sasson, the $600 million aqua-blue glass 635-unit complex sits on 8.5 acres (3.4 ha) on Dean Martin Drive and is centrally located across from the Las Vegas Strip one-quarter mile (0.40 km) from CityCenter.

<span class="mw-page-title-main">Sky Las Vegas</span> Residential in Winchester, Nevada

Sky Las Vegas is a 45-story luxury high-rise condominium tower with 409 units, situated on a 3-acre site on the Las Vegas Strip in Winchester, Nevada. A two-story retail project had initially been planned for the site in 2001, although it ultimately did not materialize. Plans for Sky Las Vegas were announced in July 2004, with construction beginning the following year and its opening occurring in May 2007.

<span class="mw-page-title-main">Turnberry Towers</span> Residential in Winchester, Nevada

Turnberry Towers is a 45-story twin tower condominium complex in Winchester, Nevada, near the Las Vegas Strip. Initially, plans were announced in 1998 for Great Masters, a $300 million condominium project consisting of 56-story twin towers. The land was sold in 2000 to Turnberry Associates, which announced plans to build Madison Towers on the property. The $250 million condominium project would include 25-story twin towers, but the start of construction was delayed due to poor economic conditions as a result of the September 11 attacks. Conditions improved and the project was redesigned to be larger, with the new name of Turnberry Towers. Construction of the first tower began in June 2005, and was finished in 2007, followed by the completion of the second tower a year later.

<span class="mw-page-title-main">Allure Las Vegas</span> Residential in Las Vegas, Nevada

Allure Las Vegas is a condominium tower in Las Vegas, Nevada. The 41-story, 466 ft (142 m) tower was built between 2005 and 2007 and was designed by EDI Architecture. Construction was managed by Bovis Lend Lease.

<span class="mw-page-title-main">Veer Towers</span> Condo towers in Nevada, United States

Veer Towers are twin 37-story condominium towers within the CityCenter complex, located on the Las Vegas Strip in Paradise, Nevada. The inclined buildings were designed by Murphy/Jahn Architects and tilt in opposite directions at a five-degree angle. Veer Towers opened on July 15, 2010, and is the only all-residential property at CityCenter. The property includes 670 units, divided between the two towers.

<span class="mw-page-title-main">One Queensridge Place</span> Residential in Las Vegas, Nevada USA

One Queensridge Place is the name given to two residential skyscrapers located on the west side of the Las Vegas Valley in the Queensridge neighborhood adjacent to the master planned community of Summerlin, Nevada. Construction began in 2005 and concluded in 2007. The buildings are twins, measuring approximately 233.5 feet (71.2 m) high. Each tower has 20 constructed floors with curtain wall facades and distinctive architecture. The resulting large windows allow for views of the Las Vegas Strip and Red Rock Canyon.

The Ivana Las Vegas was a proposed 73-floor, 923-foot condominium high-rise, named after Ivana Trump. The project was initially announced in August 2004, as The Summit, and was to be constructed on the 2.17-acre site of the closed Holy Cow Casino and Brewery, located on the Las Vegas Strip in Las Vegas, Nevada. Trump became involved with the project in June 2005, when it was renamed.

The Sandhurst Las Vegas is a cancelled high-rise condominium and mixed-use project that was planned for construction in downtown Las Vegas. The project was announced in October 2004, with the New Jersey-based Sandhurst Development as the developer. The project was designed by JMA Architecture and was to include a 35-story tower with 398 units. Two additional towers were also planned early in the project's history.

Majestic Las Vegas is a cancelled high-rise condominium project that was to be built on property previously occupied by the La Concha Motel on the Las Vegas Strip, in Winchester, Nevada. The project was announced by La Concha owner Lorenzo Doumani in February 2004. The 42-story condominium tower was to be accompanied by Hilton's Conrad Las Vegas, a Conrad-branded, 37-story hotel that would operate in a separate high-rise building on the same property. The project was initially expected to open in February 2006.

Las Vegas Grand is an apartment complex located east of the Las Vegas Strip in Paradise, Nevada. It was developed by Chris DelGuidice through his Florida-based company, Del American. Originally, DelGuidice planned to build apartments on the site around 2001, and he subsequently added a condominium component. The project was announced in August 2003, but the apartment aspect was removed from the project later that year because of rising construction costs. The project, to be known as Vegas Grand, was to consist of 880 condominium units.

One Las Vegas is a condominium property in Enterprise, Nevada, south of the Las Vegas Strip. It consists of two 20-story towers with a total of 359 condominium units. Construction was underway in 2006, and the towers opened in June 2008. The following year, One Las Vegas entered foreclosure because of low sales, caused by the Great Recession.

Boca Raton is a mid-rise condominium property in Enterprise, Nevada, south of the Las Vegas Strip. The property consists of two seven-story buildings with a total of 378 units. Construction began in 2004, and the property opened in mid-2007. A second phase, consisting of two additional buildings, was canceled due to poor sales in the original buildings, a result of the Great Recession.

The Club Renaissance was a proposed 60-story condominium tower that would have been built in downtown Las Vegas, Nevada. Besides residential units, other features would include office space, retail, and restaurants. The project was announced in January 2005, and construction was originally scheduled to begin later that year.

Krystle Sands was a proposed 45-story condo hotel that was to be built on the Las Vegas Strip in Winchester, Nevada. Reservations for the project's condominium units began in 2004, and construction was scheduled to start later that year, with the opening planned for 2006.

Pinnacle was a proposed two-tower condo hotel project that was to be built near the Las Vegas Strip in Paradise, Nevada. The project was announced in 2005, and would have included 1,104 units across two 36-story towers. Construction was to begin in 2006, but was delayed several times. Pinnacle was ultimately canceled in March 2008, due to financing issues caused by the Great Recession.

The Gramercy is a mixed-use development project in Spring Valley, Nevada, west of the Las Vegas Strip. It includes two office buildings and 160 apartment units. Gemstone Development began construction of the project, originally known as ManhattanWest, in 2007. The project initially was to include condominiums, retail, and office space. Construction was suspended in December 2008, because of financial problems. ManhattanWest was sold in 2013, and construction resumed, with the project now known as The Gramercy. It opened in November 2014. An unfinished nine-story condominium tower was imploded in February 2015, as completing it would have been too costly.

References

  1. 1 2 3 4 5 6 Segall, Eli (March 23, 2017). "Owners of Juhl in downtown Las Vegas to begin selling units". Las Vegas Review-Journal. Retrieved April 25, 2020.
  2. 1 2 3 4 "Juhl high-rise condo tower topped off downtown". Las Vegas Review-Journal. August 6, 2007. Retrieved April 25, 2020.
  3. 1 2 3 4 Smith, Hubble (April 14, 2006). "Downtown condo-retail project valued at $167 million under way". Las Vegas Review-Journal. Archived from the original on April 21, 2006.
  4. 1 2 Cohen, Billie (September 24, 2006). "In Las Vegas, Downtown Steps Up to the Table". The New York Times. Retrieved April 25, 2020.
  5. Kalil, J.M. (October 21, 2004). "City sells land for 14-story complex downtown – Council OKs $5.2 million deal for 2.38 acres for 334 lofts, retail space". Las Vegas Review-Journal. Archived from the original on October 30, 2004.
  6. 1 2 3 4 5 6 7 8 9 Illia, Tony (July 6, 2009). "After long wait, Juhl condo project opens; Source says significant engineering problems plagued mid-rise". Las Vegas Business Press. Archived from the original on July 9, 2009. Retrieved September 15, 2020.
  7. Kalil, J.M. (December 19, 2004). "The Pitchman". Las Vegas Review-Journal. Archived from the original on December 28, 2004.
  8. 1 2 3 Smith, Hubble (December 4, 2006). "Juhl condos 60 percent sold as progress continues: Project will include 340 condominiums, ground-floor shops". Las Vegas Review-Journal. Archived from the original on January 22, 2007.
  9. Smith, Hubble (October 8, 2006). "A high and tight market: High-rise condo market failures cause lenders to grow cautious". Las Vegas Review-Journal. Archived from the original on July 21, 2010.
  10. Smith, Hubble (August 14, 2006). "Construction continues apace at Pebble Place". Las Vegas Review-Journal. Archived from the original on August 21, 2006.
  11. Hopkins, Carmel (October 29, 2006). "In Vegas real estate, the house always wins". Los Angeles Times. Retrieved April 25, 2020.
  12. "Juhl promises residents easy stairwell commutes". Las Vegas Review-Journal. June 17, 2007. Retrieved April 25, 2020.
  13. "The State Bird of Nevada". Las Vegas Review-Journal. September 2, 2007. Archived from the original on July 1, 2016.
  14. Goldman, Abigail (August 27, 2007). "Changes Downtown Coming From On High". Las Vegas Sun. Retrieved April 25, 2020.
  15. Skolnik, Sam (June 11, 2008). "Quiet on the northern front: Downtown condo tower mostly empty as revitalization efforts limp along". Las Vegas Sun. Retrieved April 25, 2020.
  16. Smith, Hubble (August 2, 2009). "High-rise plans go flat in Las Vegas". Las Vegas Review-Journal. Retrieved April 25, 2020.
  17. Bosshart, Becky (June 11, 2009). "Movin' on down: As the economy worsens, Downtown is finding itself an unexpected beneficiary". Las Vegas Weekly. Retrieved April 25, 2020.
  18. "Wednesday morning while the giant sleeps" . Las Vegas Examiner. August 5, 2009. Retrieved April 25, 2020 via NewsLibrary. I ride by the project Juhl and notice the ground floor lease spaces seem to be mostly vacant still with temporary graphics suggesting actual businesses on the store front window films.
  19. Smith, Hubble (May 13, 2012). "Chances open up for Las Vegas downtown living space". Las Vegas Review-Journal. Retrieved April 25, 2020.
  20. Green, Steve (September 12, 2009). "Regulators seize Corus Bank, plan sale of Vegas projects". Las Vegas Sun. Retrieved April 25, 2020.
  21. Wargo, Buck (August 10, 2011). "Investors ramping up Las Vegas condo sales". Las Vegas Sun. Retrieved April 25, 2020.
  22. Segall, Eli (January 3, 2014). "Downtown's Ogden, Juhl among properties acquired in deal". VegasInc. Retrieved April 25, 2020.
  23. 1 2 "Juhl lifestyle director creates social calendar". Las Vegas Review-Journal. June 15, 2019. Retrieved April 25, 2020.
  24. 1 2 Segall, Eli (February 18, 2015). "Businesses opening in downtown Las Vegas high-rise". VegasInc. Retrieved April 25, 2020.
  25. "New Artist in Residence for Juhl announced". KTNV. August 25, 2017. Retrieved April 25, 2020.
  26. 1 2 Ventura, Leslie (July 12, 2018). "The Juhl, 'The Believer' and others join forces for an ambitious writer-in-residence program". Las Vegas Weekly. Retrieved April 25, 2020.
  27. Meehan, Jeffrey (April 3, 2017). "Juhl units to go back on sales market". Las Vegas Business Press. Retrieved April 25, 2020.
  28. "Juhl partners with UNLV School of Architecture". Las Vegas Review-Journal. October 20, 2019. Retrieved April 25, 2020.
  29. Duck, Allison (December 27, 2019). "Dwell: A penthouse at Juhl, the latest trends and more". Las Vegas Magazine. Retrieved April 25, 2020.
  30. Snel, Alan (September 19, 2013). "Bike shop owner pedals to the beat of a different drum". Las Vegas Review-Journal. Retrieved April 25, 2020.
  31. Garcia, Tony (November 14, 2016). "Celebrate The Promenade at Juhl's grand opening ribbon-cutting and champagne toast". KSNV. Retrieved April 25, 2020.
  32. Lupiani, Joyce (January 12, 2017). "Rockin' new barber shop open in DTLV". KTNV. Retrieved April 25, 2020.