We’re happy to say that things are actually looking up for the condo development that suspended construction in late 2008. Gelida Cos. bought the property out of bankruptcy on Oct. 9 for approximately $22 million – quite a steal, considering that the 700-unit project, which also encompassed 200,000 square feet of office and retail space, was budgeted at $350 million.
"It's got good bones, great location, lots of upside," Calida co-founder Eric Cohen told the Las Vegas Review-Journal. If the Manhattan West sale closes escrow, it will be Calida’s second big Las Vegas project. The company plans to break ground early next year on luxury apartments near Green Valley Ranch. No timeline has been announced for Manhattan West, which presently looks like this.
