December 5, 2007
Gemstone Development Receives Superstructure Permit for ManhattanWest

Gemstone Development, announced today it has received the superstructure permit for the first phase of its $350 million dollar mixed use project, ManhattanWest, located in Southwest Las Vegas. The permit comes after just a few short months of construction.

"Construction has moved briskly since the official groundbreaking took place in May," says VP Peter Smith. "We received the grading and foundation permits for the first phase on May 18, and October 6, respectively. Receiving the superstructure permit today allows us to complete the necessary steps to begin the framing process at residential buildings Roosevelt and Lennox Houses.

According to Smith, his construction team worked a 24-hr schedule to complete the columns and slabs for the underground parking at each building. The deck for buildings Lennox and Roosevelt Houses are in the process of being poured, with the flagship Element House, and commercial and residential buildings at Union Square soon to follow.

"Element House is scheduled to begin metal framing on December 13, while the largest buildings in this phase at Union Square are scheduled to begin in early February. The completion of the entire phase will be late next year," says Smith.

ManhattanWest will feature 700 condominiums on 20 lush acres, 50,000 square feet of upscale shops and restaurants, and 150,000 square feet of office space, all focused on saving you time, creating a better social life, and making you healthier.

About the Developer
Gemstone Development, the developer of ManhattanWest, is one of the most prolific condominium developers in Las Vegas. Gemstone's previous project, Manhattan Condominiums, was the first new mid-rise condominium to be built in Las Vegas since 2002, and at $230 million dollars is one of the largest mid-rise projects in Las Vegas. Manhattan Condominiums sold out its initial 700 units, and recently has finished construction on its last building. Gemstone delivers unique, state-of-the-art features such as its ManhattanTransfer® errand service and ManhattanMD® medical services. Gemstone Development was founded by Alexander Edelstein in 2003. ManhattanWest can be viewed on the web at ManhattanWest.com. Gemstone can be reached on the web at: GemstoneDev.com.

Contact:
Mark Chatow
Gemstone Development, LLC
702.614.3193
markc@gemstonedev.com
www.gemstonedev.com




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