Since the 1990s, various condominium projects have been proposed for the Las Vegas Valley. Park Towers and Turnberry Place, two high-rise condominium properties located near the Las Vegas Strip, were completed in 2001; they subsequently inspired a condominium boom that started in 2003, when various developers began announcing projects that were planned throughout the Las Vegas Valley.

Many projects were ultimately cancelled because of a rise in construction costs, as well as a lack of skilled construction workers and contractors who were qualified to build high-rises; both reasons were attributed to the large number of projects being announced. The following list includes notable condominium projects that were both completed and cancelled, as well as projects that are on hold.

History Early history Regency Towers, built in 1974, was the first high-rise condominium property to open in the Las Vegas Valley, with 226-units. The property was initially unsuccessful, selling only eight units before going into foreclosure. In the late 1990s, Las Vegas was the fastest-growing area in the United States. As a result, five new high-rise condominium projects were being planned for the Las Vegas Valley in 1998, for a total of 12 new condominium towers. Among the five proposed projects was Turnberry Place and Park Towers.

Condominium boom High-rise condominiums became a popular trend in the Las Vegas Valley after the opening of Turnberry Place and Park Towers in 2001. Numerous high-rise condominium projects were subsequently announced beginning in 2003, starting a condominium boom. Real estate experts predicted that only 20 to 50 percent of the announced projects would actually get built. The condo-hotel concept was introduced in the Las Vegas Valley in September 2003, at MonteLago Village at Lake Las Vegas. At the end of the year, plans were underway for the first high-rise condominium in downtown Las Vegas: Soho Lofts.

The condominium boom was sometimes referred to as the "Manhattanization of Las Vegas". The term was first used in 1999, by Steve Bottfeld, the owner of a Las Vegas real estate consulting firm. The term was popularized by Richard Lee – director of public relations for First American Title Company – after he used it during a presentation. Lee was a well-known local proponent of the high-rise condominium boom, and spoke frequently about it at local conferences and seminars. Lee had used the term as early as 2003; it was later used as the title for Manhattanizing Las Vegas, a 2005 book by Paul Murad that chronicled the Las Vegas condominium boom. A website called Manhattanization.com was also created to cover the local high-rise market.

By January 2005, 122 high-rise condominium buildings with a total of nearly 17,000 units had been announced. The tallest proposed project was the 73-story Summit, which also had the most expensive price listed for a unit: $35 million. The lowest price was $139,900 for units at the 51-story Las Vegas Central. New condominium projects, when completed, were expected to create an increase in visitation to local casinos. Many of the proposed high-rise condominiums were to be built along the Las Vegas Strip in hopes of maximizing buyer interest.

The Krystle Sands high-rise, to be built on the Las Vegas Strip, became the first of the newly proposed condominium projects to be cancelled, in March 2005. By May 2005, there were plans for approximately 25,000 condominium units and 8,300 condo-hotel units in the Las Vegas Valley. Some condominium projects were aided by the publicity of celebrities who purchased units in them. As of December 2005, at least 70 condominium towers had been announced for the Las Vegas Valley during the previous 12 months. Multiple projects had been cancelled up to that point. Some developers sold their land to make back a profit. Most of the surviving condo projects were those situated on and near the Las Vegas Strip.

Many projects were cancelled because of rising construction costs, as well as a lack of skilled construction workers and contractors who were capable of building high-rise structures. The rising costs and limited workers were both attributed to the large number of high-rise condominium projects that were being planned. While most of the cancelled condominium projects did not have difficulty selling, their respective developers could not build the projects at a suitable cost due to construction expenses rising 30 percent to 50 percent. In February 2006, representatives from six projects announced the formation of the Las Vegas High Rise and Condominium Alliance, which would promote the mid-rise and high-rise condominium market in Las Vegas.

In April 2006, Murad – who was planning the 39-story Gateway Las Vegas condominium tower – stated that Las Vegas had entered its second phase of "Manhattanization", saying, "This first phase of Manhattanizing is over. Now we're entering the second phase. What happened in Las Vegas over the last few years is amazing, going from a couple of high rises to a hundred. That hasn't happened anywhere else in the world." The Platinum and The Signature at MGM Grand, the first projects near the Las Vegas Strip to offer condo-hotel units, were completed in 2006.

By that point, after the cancellations of several high-rise condominium projects, banks had become more resistant to developers who were seeking construction financing for proposed projects. Two banks were heavily involved in Las Vegas' high-rise condominium market at that time: Corus Bank and Hypo Real Estate Corporation. Corus had $770 million of its loan portfolio allocated to Las Vegas condominium projects, while Hypo had approximately $850 million allocated to such projects. During 2006, multiple condominium projects were under construction in downtown Las Vegas. Mayor Oscar Goodman, who was elected in 1999, had made it a priority to revitalize the downtown area. Sky Las Vegas, finished in 2007, was the first high-rise condominium to be completed on the Las Vegas Strip.

Economic downturn and resurgence Sales of high-rise condominiums began to decrease in 2008. The condo-hotel market, consisting of projects on and near the Las Vegas Strip, also suffered that year because of low sales; thousands of condo-hotel units had been cancelled up to that point. By the end of 2008, only three additional developers had successfully completed condominium high-rises near the Las Vegas Strip: MGM Mirage (The Signature), Donald Trump (Trump International), and Andrew Fonfa (Allure Las Vegas). In 2009, condominium and condo-hotel units on and near the Las Vegas Strip were still struggling to sell because of the 2008 financial crisis.

As of August 2009, less than 25 percent of the proposed condominium projects had been built, as predicted by some analysts; developers of projects that were completed were having difficulty selling their units as a result of the 2008 recession. Sales of high-rise condominiums increased seven percent in the third quarter of 2009, although condo-hotels continued to struggle. Poor condominium sales continued into the following year. In June 2010, there were 5,500 high-rise condominium units and 5,400 condo-hotel units in the Las Vegas Valley. By that point, developers of several high-rise condominium properties had begun renting their vacant units, which were left unsold because of the poor economy.

Sales of high-rise condominiums had increased in 2011, with many units being sold at a reduced cost through bank sales, short sales, and foreclosures to investors, who would subsequently improve and flip the units. The largest increase occurred at properties on and near the Las Vegas Strip. However, sales of new condominiums were down, and the condo-hotel market also continued to suffer. High-rise sales were expected to increase in 2015 as the market continued to recover.

By 2016, the construction industry in Las Vegas had been revived, although there were no plans for any new high-rise condominium projects. Prices for existing high-rise condominiums had increased by that time. Demand for high-rise homes on the Las Vegas Strip was projected to increase because of the opening of the T-Mobile Arena, as well as the announcement of an NHL expansion franchise and discussions about a potential NFL team in Las Vegas. Sales continued to increase through 2018, partly because of the relocation of the Oakland Raiders to Las Vegas.

Completed projects Allure Las Vegas

Allure began construction in 2005. Located west of the Las Vegas Strip, it was completed in December 2007, and was the tallest residential building within Las Vegas city limits at that time, standing 41 stories high with a total of 428 units. The tower was built at a cost of $150 million. A second tower was cancelled because of poor sales in the first tower caused by the Great Recession, and because of an oversupply of condominium high-rises on the Las Vegas Strip.

Boca Raton

Boca Raton consists of two seven-story buildings with a total of 378 units, located south of the Las Vegas Strip. Groundbreaking took place in 2004, and the project ultimately opened in 2007. However, sales were poor due to the Great Recession, and plans for two additional buildings were canceled.

Jockey Club

The Jockey Club is located on the Strip, surrounded on three sides by the Cosmopolitan of Las Vegas. It consists of two 11-story towers with a total of 348 units. Of those units, 78 are wholly owned as condos, and the remaining 270 are fractionally owned through a timeshare program.

Development of the property began in 1972. Sales were initially sluggish, and most of the units were used as short-term rentals for several years. In 1977, the developers began converting units into timeshares. The timeshare program initially included 85 units, and later expanded to include most of the building. A second phase of construction was originally planned to add a third tower with 650 units on 30 floors, as well as a casino, restaurants, and showrooms. The casino was built in 1981, but never opened; instead, the developer went into bankruptcy, and the land was sold off.

After a series of ownership changes, the land was bought in 2004 by the developers who would build the Cosmopolitan. They decided to build around the Jockey Club instead of attempting to buy and demolish it because of the estimated $400- to $500-million cost of buying out all of the condo and timeshare owners.

Juhl

Juhl is a mixed-use development project that includes a 15-story condominium tower, in addition to restaurants and retail. It is located in downtown Las Vegas. Construction began in 2006, but the opening was delayed by more than a year, due to construction issues. It ultimately opened in 2009, and buyers initially had trouble finalizing their purchases due to the effects of the Great Recession. Some units were temporarily turned into rentals.

Manhattan

Manhattan is a 700-unit condominium property located on South Las Vegas Boulevard, south of the Las Vegas Strip. It was announced by Gemstone Development in 2004, and was built by Martin-Harris Construction.

The project cost $250 million, and the first of several buildings was completed in 2006. The building exteriors were designed to resemble the various architectural styles present in the borough of Manhattan. Units were priced low to appeal to a broad customer base.

Metropolis Metropolis is a condominium tower with 71 units, located at 360 East Desert Inn Road, east of the Las Vegas Strip. It was built on less than an acre of land, previously occupied by a closed low-rise timeshare known as Royal Aloha.