October 2004

89123-ZIP code
According to the 2000 census, the 89123 ZIP code had 19,556 housing units with a land area of 18.4 sq. mi.
Population (2000): 46,877Median age: 34.1 years oldAverage household size: 2.64 peopleMedian household income (1999): $57,630

Number of houses built in 89123 ZIP code:
· 1999 to March 2000: 4959
· 1995 to 1998: 8466
· 1990 to 1994: 3075
· 1980 to 1989: 1606
· 1970 to 1979: 856
· 1960 to 1969: 377
· 1950 to 1959: 115
· 1940 to 1949: 32
· 1939 or earlier: 0

Don't forget that the 2000 census data is already 4 years old. With a population as explosive as Las Vegas, changes have occurred that are not yet reflected in the official statistics. On June 30, 2004 the Las Vegas Review Journal wrote, “The hottest-selling area in Las Vegas Valley's sizzling housing market is ZIP code 89123,”primarily the Silverado Ranch community in and around Henderson.

Cactus and Bermuda’s Future…
On September 29, there was a chain-link fence put up around the southeast corner lot of Cactus and Bermuda. I, Brad Emens, interviewed the men from Clark County Fencing and asked, “Why are you putting the fence up?”
They said, “The Health Department ordered a six-foot, chain-link fence be put up to keep people from dumping on it and kids from playing on it.”
I called the company that is advertising for the southeast corner lot at Bermuda and Cactus. Tony Taverite, an agent for Professional Land Corporation of Laguna Hills, California, said, “It is zoned commercial and for sale at $12 million.” The last sale price for this still vacant, 10.0-acre, lot was $3 million in October of 2000.
The northeast corner (next to Roberto’s) is 1.49 acres. It will be called the Bermuda/Cactus shopping center. This vacant lot belongs to The American Food & Drug INC. They paid $1,307,250 in September of 2002. They will build a shopping center with a drug store.
LACONIC Limited Partnership owns the northwest corner lot, 2.50 acres (across Bermuda from Roberto’s). Its last sale date was January 1995 with a sale price of $200,000. It is zoned as Rural Estates Residential (2 residential units per acre).
The Costello Living Trust owns the southwest corner lot. These 2.50 acres are also zoned as Rural Estates Residential (2 residential units per acre). This lot sold for $28,000 in June of 1989.

Houses sold in Canyons 3
The American West development of the Canyons 3 subdivision started back in the early part of the century. Some of the first homes released were sold for less than $200,000. Since then, the 320 homes in this subdivision have become very desirable.
In fact, the average sales price for the last ten houses sold in the Canyons 3 subdivision was about $471,255. That turns out to be $147.48 per square foot. Do the math…for example a Plan V, with 3,272 square feet, could be estimated to be worth at least $482,554.56 (3,272 square feet X $147.48 per square foot). This calculation does not include improvements or upgrades. Good news!

When will Amigo go through to St. Rose Parkway?
According to Kimball Hill Homes Nevada INC., Amigo Avenue will never go through to St. Rose Parkway. Kimball Hill Homes Nevada INC. is the owner of the parcel where Amigo Avenue dead-ends (the area north of Liberty High School and south of the Canyons 3 subdivision). This 30.0-acre parcel is going to be developed into 1600-2500 square-foot townhomes and 1800-2500 square-foot single-family residential homes.
Kimball Hill Homes Nevada INC. purchased this vacant lot from the United States government for $1,372,140 in May of 2004.
I called the Kimball Hill Homes Nevada INC. office located in Henderson and asked if they knew when construction would begin. The office told me, “In the next few years.” Next, they told me, “The development will be shaped like a horseshoe around the high school.” I, Brad Emens, will find out when Bermuda will be finished and report my findings next month.

The “New Downtown”
Recently, I watched a program on KCLV, channel 2, which stated, “Downtown is the place to be.” Sherry Singer hosts the program “City Scene.” Singer interviewed the Las Vegas city manager, Douglas A. Selby. The topic was the future of Las Vegas. They discussed the development of an “urban village” on the sixty-one acre Union Park (the old train yard west of Downtown). Selby went on to say, “This new urbanization is where people can live, work, and recreate all in the same vicinity.” The improvement is a “high density vertical development” that will have the “convenience of life.” Level one of these new buildings will be dedicated to retail while the upper levels will be designated as residential living. Also included in the development will be an academic medical facility and a performing arts center. Sounds like it will be an interesting addition to the valley’s economy. This is near the future site of the largest furniture store in the United States of America with ten stories and 1.3 million square feet located southeast of the spaghetti bowl.

Ready or not, Election 2004 is right around the corner.
For additional information on voting, call 455-VOTE or visit www.co.clark.nv.us/election/home.asp You want to know more?Call Brad Emens at 808-3531