Company forging ahead with plans for high rise in Arts District

Jennifer Shubinski

Tuesday, April 19, 2005 | 11:09 a.m.

A Las Vegas real estate investor wants to bring some "color" to downtown Las Vegas and plans on building a 38-story condominium tower called H.U.E. Lofts in the city's Arts District.

The 400-foot tower, High-rise Urban Experience Lofts, received approval last week from the city of Las Vegas planning commission and will go before City Council May 18, said Eddie Haddad, managing member of Saucy Strategic Planning LLC.

Haddad purchased a half-acre site at the southeast corner of Charleston Boulevard and Casino Center Drive from $1.8 million. The site includes the Bourgault Harding Sper & Koenig LLP law office building, which the company recently vacated, Haddad said.

"Because this is in the center of the Arts District, we're building a tribute to artists," Haddad said. "We'll have a gallery downstairs, with coffee on one side and wine and cheese on the other and the art theme throughout the building through the top."

Haddad said he expects prices for the lofts, which will be two stories, to start at $450,000 to about $900,000. Lofts will range in size from 800 square feet to about 1,250 square feet, he said.

Haddad said he is working on nailing down a construction company and construction financing for the $180 million project.

Haddad said he is venturing into high-rise development because he wanted to expand his horizons.

"Since 1990 I've been involved in real estate, mainly foreclosures," he said. "I figured it was time to move onto bigger and better things."