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 September 9, 2004 Manhattan Condominiums Completes Construction Financing, Begins Active Construction $105m in Financing Is Secured (Las Vegas, NV) – Gemstone Development announced today that it has secured $105m in construction loans for the construction of Manhattan Condominiums, and that construction is fully underway at the Manhattan site at the corner of Las Vegas Blvd. and Serene. Tharaldson Financial Group, Inc. of Henderson, Nevada, is providing all of the construction and project financing requirements for the first 2 phases of the Manhattan Condominium project. "We are pleased to have achieved this significant financial milestone," said Alex Edelstein, Managing Partner of Gemstone Development, "Construction Financing is the lifeblood of real estate development and the ability to secure this kind of capital is a key element that separates the few projects that get built from the many projects that don't." "We are fully underway with our construction," said Managing Partner Philippe Pageau-Goyette. "Full-scale grading is taking place, led by Triton Grading & Paving, and we are about to pull our Building Permit. The fact that we closed escrow on this land less than 9 months ago, but have already reached these milestones is a testament to the strength and depth of the Gemstone team." Manhattan Condominiums brings urban convenience, luxury and style to Las Vegas Boulevard, but delivers it at a surprisingly affordable price point. Manhattan's unique luxuries include an expansive and elegantly-landscaped Central Park, a multi-million dollar clubhouse, full-service concierges, a high-tech screening room with DVD library, and rich wireless Internet connectivity. Sales for the Manhattan Condominiums will occur only by appointment. To register for an appointment, interested individuals can register on the web at www.manhattanlv.com or by calling the sales office at 702.893.2663. Gemstone Development is the developer of the Manhattan Condominiums, one of the most anticipated projects in Las Vegas. Gemstone was founded by Alexander Edelstein and Philippe Pageau-Goyette, and is committed to creating stylish, tasteful condominium housing. For more company information, visit the Gemstone Development website at www.gemstonedev.com or dial 702-614-3193 Contact: Gemstone Development 702.614 3193 Back to the News page |
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