Harmon corridor the next big magnet in Vegas?

A few years ago the Harmon corridor property owners enthralled local real estate observers and the media with grand plans for mixed-use developments that included thousands of condos. Many of those plans are still just plans. The condominium market turned soft and construction costs zoomed through the roof, forcing several players to delay or cancel.

Now the buzz is back. The prediction is that the housing market will rebound soon and the Harmon corridor remains very suitable for residential development. The emphasis, though, is on the word strong-branded. The days when anyone could cruise into town, crank up an office and sell out a building in a matter of days are gone.

The Planet Hollywood Towers by Westgate is a good example of a strong brand behind a project. It broke ground in January and will have 2,500 condominiums and time-share units when completed.