Pinnacle Las Vegas news

The developer of the $740 million condo-hotel with 1,100 units named a few days ago its third general contractor. The new builder is Dick Pacific Construction which also is a joint venture partner in the project, a marked shift from an earlier arrangement. The first two were signed up as general contractors only. Although the details are largely unknown, this change likely comes from a financial necessity.

The original framework of the development remains pretty much untouched. It'll still feature two 36-story towers linked to one another by three sky bridges. Among the amenities are restaurants, shops, a spa with a fitness center and a large wet deck. A wet deck probably means a pool and such. Construction is now set to kick off later this year and be completed by 2010.

Current condominium market conditions, just like all residential real estate, in the valley are difficult. Available inventory is growing steadily as sales lag and financing of units is getting harder thanks to the present mortgage turmoil. According to experts, a developer with experience and secure finances plus a brand he can put in a good location, like the Strip, will have a much easier time at it than a first-time entrepreneur.