ManahattanWest Celebrates "Topping Off" Ceremony on Strip View Roof Deck at Flagship 'Element House' Tower

Project Also Announces Elixir Coffeehouse/Wine Bar, Don Antonio's Italian Restaurant, Staybridge Suites Hotel, Pet Day Care, and Executive Suites

Las Vegas, NV, July 28, 2008 -- Gemstone Development celebrated the topping off of its nine story flagship building, Element House last week. The ceremony will took place on the building's roof deck. Gemstone CEO, Alex Edelstein will gave a brief presentation, and participants signed a ceremonial beam, which was 'flown' 110 feet in the air by crane from ground level to the top of the roof deck live during the ceremony. The project also announced the first retail and service tenants at its Union Square commercial plaza.

"Topping out Element House, our tallest building, is a substantial milestone," said Alex Edelstein, CEO of Gemstone Development, "While other projects that launched the same time we did never made it beyond digging holes, we've proven that ManhattanWest is moving forward quickly towards completion."

ManhattanWest also announced its first retail and services tenants at its Union Square commercial plaza:

Elixir is ManhattanWest's coffeehouse/wine bar, featuring gourmet coffees, a wide selection of wines, and a complete menu for breakfast, lunch and dinner.

Don Antonio's, an Eastside restaurant known for their extensive menu, which includes Italian classics, New York style pizzas, and homemade Italian pastries, is opening a second location at ManhattanWest. Both restaurants will feature both inside and alfresco dining.

• The project is also announcing a preliminary agreement with Intercontinental Hotels to feature a Staybridge Suites hotel on-site. Located in the Union Square plaza, the hotel will have approximately 120 rooms, and will cater to business travelers visiting companies along the new 215 Corporate Corridor.

Rounding out the community's early tenant announcements are its boutique market, pet day care facility and executive suites:

Manhattan Market will serve ManahattanWest residents, guests and commercial space users. It will offer freshly prepared foods to go, sundries, and packaged liquor.

The Dog Day Care at ManhattanWest will give residents and office users a convenient place to bring their pets for short stays.

The Executive Suites at ManhattanWest will offer users the ability to rent a small office space with the full support and infrastructure of a larger office environment. Reception, voice mail, meeting room, and technology solutions will all be available to suite tenants.

Designed by OZ Architecture, of Denver, ManahattanWest is already becoming an icon in Southwest Las Vegas. The project's nine story Element House tower will feature residences including studios, and one, two, and three-bedrooms as well the project's 7,000 square foot fitness facility and it's rooftop lounge and pools. Element House is the last building to top out of the five buildings in ManhattanWest's first phase.

ManhattanWest, which features 700 residences and 200,000 square feet of shops, restaurants, hotel, and office space in 12 separate buildings on 20 acres off Russell Road just west of the 215.

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About Gemstone Development
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 finished construction on its last building in 2007. Gemstone delivers unique, state-of-the-art features such as its ManhattanTransfer® errand service and ManhattanMD® medical services. 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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©2008 Gemstone Development, LLC