Condo project is set to open in September

First Panorama Tower will house 320 units

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By ERIKA BAYER-POLAK

VIEW STAFF WRITER

The first of the four planned towers for a local condominium project is slated to open at the end of September.

The 33-story, all-glass Panorama Towers, located on Dean Martin Drive near Interstate 15 and Tropicana Avenue, will feature amenities such as 24-hour concierge service, private cabanas in the pool area, 10-foot ceilings and Strip views.

The units will range in size from under 1,000 square feet to over 1,900 square feet, said president of corporate development Chris Yergensen. However, units can and are being combined.

The first tower will house 320 units while the second tower, which is under construction and is a twin of the first tower, will house 326 units. The third tower, also under construction, will have 378 units, and the fourth tower, still in the planning stages, will have over 400 units.

"The average cost per square foot is about $650 right now," Yergensen said. "And of course the higher you go up (in the towers), the cost rises. The average square footage is about 1,200 to 1,300. The association fee is about 45 cents per square foot."

Towers three and four will resemble each other architecturally and will differ from towers one and two. The most striking aspect of the first and second towers is that they will contain holes to serve as aesthetic architectural statements.

"And the location is unique," Yergensen said of the overall project. "You're close enough to the Strip, yet far enough away to not have to be on it. The demographics we're catering to are different than Park Towers or Turnberry Place. A big percentage of what we have are Southern Californians that are looking for second homes. Maybe about 30 percent locals."

Paul Scaringe, vice president of sales, added that many of the towers' soon-to-be-owners are purchasing the units based on "affordability rather than comfortability."

"They'd rather spend $600,000, not $1.2 (million), for a place of their own for weekends," Scaringe said.

Towers one and two are 100 percent sold out, and tower three is about 85 percent sold, according to Scaringe.

For more information, visit www.panoramatowers.com.