The Martin

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The Martin
Panorama Towers - East - 2010-03-06.JPG
The Martin (right) alongside Panorama Towers, March 2010.
The Martin
Former namesPanorama Tower North
General information
StatusCompleted
TypeLuxury high-rise condominium complex
Address4471 Dean Martin Drive
Las Vegas, Nevada
Coordinates 36°06′31″N115°10′57″W / 36.108633°N 115.182362°W / 36.108633; -115.182362
GroundbreakingApril 21, 2006
Opening2008 (2008)
OwnerPanorama Towers HOA
ManagementRMI Management, LLC
Height500 ft (150 m)
Technical details
Floor count45
Design and construction
Architect(s)Klai Juba Architects
Structural engineerLochsa Engineering
Main contractorM.J. Dean Construction, Inc
Other information
Number of units372
Website
www.themartin.com

The Martin is a luxury high-rise condominium tower located at 4471 Dean Martin Drive in Paradise, Nevada, near the Las Vegas Strip. [1] The tower was originally part of the Panorama Towers complex, and was initially known as Panorama Tower North.

Contents

Groundbreaking took place in April 2006. The tower suffered from poor sales after its opening in 2008, and subsequently entered foreclosure. In 2011, the tower was renamed as The Martin, after Dean Martin, and was given a $3 million renovation which led to an increase in sales. The Martin is located across Interstate 15 from CityCenter. The building is 500 feet (150 m) tall, and has 45 floors and 372 total units.

History

In September 2004, a 35-story third tower, standing 500 feet tall, was approved by Clark County to become part of the Panorama Towers property, which was being developed by Andrew Sasson and Laurence Hallier. At that time, the third tower was planned to be slightly smaller than the other two towers, with only 250 units compared to 350 for the others. The project's second tower was scheduled to begin construction in January 2005, with construction on the third tower scheduled to begin six months later. [2]

A groundbreaking ceremony for the third tower was held on April 21, 2006. Pamela Anderson appeared at the event as Hallier's date. Other attendees included Steve Wynn, Ryan Seacrest, and Mickey Rourke. [3] [4] [5] Taylor International was the general contractor for the tower, [6] which was constructed north of Harmon Avenue and the project's two previous towers. [7]

Panorama Tower North opened in 2008, [8] with 45 stories and 372 units. [9] [10] After its opening, the tower struggled with sales, as many units entered foreclosure or became short sales. [9] In November 2008, istar Financial, the tower's construction lender, foreclosed on the property. [11] In 2009, iStar acquired the property out of foreclosure. [1]

In January 2011, Panorama North was renamed The Martin as part of a marketing strategy to increase sales in the tower. [12] [9] The Martin was named after Dean Martin. [8] A renovation of the tower was scheduled to begin in mid-September 2011. [1] Improvements totaling $3 million were made to the tower, including a redesigned lobby with a library, and lounges at the pool. [8] The renovation also included new landscaping and the addition of vintage furniture and retro décor, as well as residential services such as concierge, car service, continental breakfast and room-cleaning. Renovations concluded in March 2012. [13] Monthly sales subsequently increased, [8] with strong sales occurring throughout 2012 and 2013. [14]

See also

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References

  1. 1 2 3 Wargo, Buck (August 30, 2011). "Condo tower near Las Vegas Strip to get $3 million facelift". VegasInc.com. Retrieved February 7, 2017.
  2. ↑ "Third part of high-rise condos approved". Las Vegas Sun . September 23, 2004. Retrieved February 7, 2017.
  3. ↑ Katsilometes, John (April 23, 2006). "John Katsilometes takes in the panoramic views at Pamorama - er, Panorama Towers". Las Vegas Sun.
  4. ↑ Clarke, Norm (April 23, 2006). "Kevin, Britney drama goes on". Las Vegas Review-Journal . Archived from the original on July 25, 2008. Retrieved February 7, 2017.
  5. ↑ Katsilometes, John (January 28, 2012). "The concept of Pamela Anderson at 'Pamorama' didn't end up too suite". Las Vegas Sun. Retrieved February 7, 2017.
  6. ↑ Smith, Hubble (April 24, 2006). "Panorama Towers escapes sharp cost increases". Las Vegas Review-Journal. Archived from the original on July 19, 2006.
  7. ↑ Smith, Hubble (March 5, 2007). "Most Panorama Tower residents keeping condos". Las Vegas Review-Journal. Archived from the original on March 15, 2007.
  8. 1 2 3 4 Robison, Jennifer (August 19, 2013). "Economy, rebranding boost condo sales at The Martin". Las Vegas Review-Journal. Retrieved February 7, 2017.
  9. 1 2 3 "To lift sales, Panorama North tower renamed The Martin". Las Vegas Review-Journal. January 26, 2011. Retrieved February 7, 2017.
  10. ↑ "Panorama Tower offers views". Las Vegas Review-Journal. June 19, 2010. Retrieved February 7, 2017.
  11. ↑ Wargo, Buck (June 18, 2010). "Renting is new savior for high-rise condos". Las Vegas Sun. Retrieved February 7, 2017.
  12. ↑ "Panorama Tower North Becomes The Martin". Vegasnews.com. January 21, 2011.
  13. ↑ Shine, Conor (March 14, 2012). "Luxury high-rise sales sent skyward after $3 million remodel injects 'personality'". Las Vegas Sun. Retrieved February 7, 2017.
  14. ↑ Robison, Jennifer (September 22, 2014). "Once-stalled southwest project now adding new tenants". Las Vegas Review-Journal. Retrieved February 7, 2017. The Martin enjoyed strong sales in 2012 and 2013 following a redesign of its common areas.
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