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Chicago Developer Joins with Las Vegas Development Company to Spearhead New Community in Southern Nevada
(LAS VEGAS/CHICAGO) -- Prominent Chicago developer, JDL Development, recently announced it has entered the Las Vegas market in a joint venture with Las Vegas-based Modern Living Holdings. Their first joint development, The Mercer, is 113-units, ranging in size from 800- to 2,370- square feet. The mixed-use development is set on five acres at the northwest corner of Tropicana Avenue and Grand Canyon Drive. Completion of The Mercer is scheduled for early spring 2008.
The Mercer will bring a modern flair to its residences, atypical of the local Tuscan themes that prevail in Southern Nevada. The three and four story development will lie roughly a mile away from the Summerlin master-planned community with one-bedrooms starting at $229,000, two-bedrooms starting at $399,000 and three-bedrooms starting at $699,000.
"It is exciting to be able to bring JDL's quality development team to the area, while working in conjunction with a partner whose high standards are similar to ours," said Jim Letchinger, President of JDL Development. "With such a terrific location, space layout and price-point, The Mercer is sure to be a hot property."
Amenities for each unit will include:
- Contemporary stainless steel appliances
- Modern custom cabinetry
- Wood flooring
- Chic baths
- 10-foot ceilings
- Work spaces or dens
- Balconies or private yards
- Pre-wired security systems
- Gated and covered parking
- Semi-private elevators for every six residences
Situated in an ideal community, The Mercer offers beautiful views of The Strip or the Red Rock hillside. In addition to the landscape, The Mercer offers a common courtyard, including a pool, spa, gym and clubhouse. Private rooftop decks are available for all three-bedroom units. The development will include 12,000 square feet of retail space, adding complete convenience to residents.
"Our goal is to create a modern, quality living space," said Nina Magsaysay Rosete, a Principal of Modern Living Holdings. "We are thrilled to be able to offer such a fabulous product with such incredible amenities as well as a terrific location."
Valued at more than $50 million, the project has been fully funded by First American Bank in Chicago.
"In providing the construction financing for The Mercer, First American Bank is excited to continue its long-standing relationship with JDL," said John Olsen, vice president of the First American Bank. "We are delighted to support Mr. Letchinger and his company as he expands his construction scope from the Chicago area to other areas of the country. Las Vegas remains an attractive development location and First American Bank looks forward to supporting a project in an area undergoing such vibrant growth."
Established in 1993, Chicago- based JDL Development is a premier developer of high-end residential properties with more than 1,000 units in completion. JDL Development operates by a simple philosophy-- complete customer satisfaction. Whether a single-family home, high-rise, townhome or a project in rehabilitation, JDL Development works to consistently deliver on its promise of exceptional design, quality and customer service.
Modern Living Holdings, based in Las Vegas, is a leading lifestyle development group that spreads the gospel of modern design by creating attainable design solutions for the home. Modern Living Holdings is committed to delivering quality and compelling designs to its customers. By thinking differently, Modern Living Holdings brings stylish environments within reach of more people.
The Mercer information may be accessed at www.TheMercerLV.com or 877.365.MERCER(6372).