LAS VEGAS (KTNV) — The skyline in downtown Las Vegas may look a little different in a couple of years.
Red Ridge Development broke ground Tuesday on Cello Tower, a 32-story luxury residential high-rise in downtown Las Vegas that marks the first such development in the city in about 15 years.
WATCH | Groundbreaking for new downtown Las Vegas high-rise
The tower will be located at Grand Central Parkway and West Carson Avenue in Symphony Park, near the Smith Center for the Performing Arts.
About 50% of the tower's units are already under contract, according to Patrick Brennan, CEO and founder of Red Ridge Development.
"This will be the first time that we have a for-sale luxury condominium high-rise within Symphony Park and then also the ability to bring in a grocery store, more retail, more businesses, pedestrian plaza promenade," Brennan said.
Units in the tower start at around $700,000, a price point that has attracted significant interest from both local and out-of-state buyers.
Michele Sullivan, a luxury real estate broker with Douglas Elliman, said the development makes sense given current market conditions.
"There's demand, obviously. We have a lot of buyers coming in from different states and starting in the 700s you can get something that's very affordable, very luxurious," Sullivan said.
Anna Schmid is one of the future residents planning to move from Summerlin to the new downtown tower.
"We really want that lock it and leave, the walkability," Schmid said. "We also like the proximity to not only downtown, the Strip, Main Street, the Arts District. It's where we want to be at that point in our lives."
Mayor Shelley Berkley, while acknowledging the need for more affordable housing in the valley, pointed to vertical development as the future of Las Vegas growth.
"High-rise living is the future. We are running out of land that we can build on, and that doesn't mean we're not going to continue growing — quite the contrary," Berkley said.
The mixed-use development at the base of the tower, called Origin, is expected to take about two years to build, with the Cello Tower itself taking approximately six months longer to complete.
Red Ridge Development is already designing a second tower as part of the Cello project. Symphony Park is also set to include a future art museum, a project spearheaded by the late Elaine Wynn, with groundbreaking expected in 2026.
Mayor Berkley will deliver her first "State of the City" address tomorrow evening at the Smith Center.
This story was reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
