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While some developers are pulling back on construction and lowering prices in the face of today's challenging market, Gemstone Development is doing the opposite. On the heels of strong pre-sales at its 700 unit, 20 acre, mixed-use Las Vegas condominium project, ManhattanWest, Gemstone is working two shifts around the clock to complete the community's first five buildings, and has increased prices five times in the past six months. "More than 50% of the first phase has been sold in the first six months," said Ed Monce, CEO of The Ryness Company, the nation's largest new home sales and marketing organization. "That pace makes ManhattanWest one of the top selling condominium communities in the country for 2007." Gemstone credits the project's success in this difficult market to novel features such as ManhattanTransfer, a time-saving errand service that picks up groceries for residents. "I'm really looking forward to the convenience of the community," said buyer Carlos Arias, "No other developer in Las Vegas is offering anything like this." Residents can call-in or stop by in the morning to order groceries, and have them waiting for pick-up in refrigerated storage when they come home from work. Another innovative feature catching the attention of buyers is ManhattanMD, an on-site medical practice serving the residents of the community. "We're bringing back the concept of the town doctor, and a more personal level of care," says CEO, Alex Edelstein. Residents will usually be able to see the doctor within 24 hours, and can get there by walking. ManhattanWest tackles the challenge of providing a richer social life for its residents with community spaces left out of most developments, including an artisanal coffeehouse that turns into a wine bar at night, and a ninth story rooftop lounge and pool deck, featuring views of the Red Rock Mountains and the Las Vegas Strip. 50% of our first phase in six months, while steadily raising prices, demonstrates that even in a down market there is always demand for an innovative product." About the Developer Contact: |
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