Residential and nonresidential construction figures for Clark County are heading in a positive direction, according to a recent report.
Dodge Data & Analytics’ report on September construction starts for Clark County was positive over the previous month and previous year — with cumulative growth in double digits for some market types.
The year-to-date analysis showed $1.4 billion in nonresidential construction, up 24 percent above the 2014 number of just over $1.1 billion.
Also, the nonresidential sector showed a year-over-year gain of 8 percent compared to September 2014, with year’s total for the month just over $87 million, beating last September’s $80.1 million.
The residential sector marked a 7 percent year-over-year gain in September. Starts topped $123 million, from just over $115 million in September 2014.
The yearly totals in residential showed a rise of 30 percent. In 2014, starts totaled nearly $1.2 billion, with 2015 surpassing $1.5 billion year-to-date. Overall, construction in residential and nonresidential sectors increased 27 percent year-to-date, an 8 percent year-over-year rise from last September.
The analysis included data from the single-family and multifamily sectors in residential; nonresidential data included were office, retail, hotel, warehouse, manufacturing, education, healthcare, religious, government, recreational and other buildings, the report said.
Dodge Data & Analytics serves the North American construction industry, providing data, analytics, news and intelligence.
Commercial center sold
A Los Angeles development company, Durango I-95 LLC, recently purchased Caroline’s Court, a commercial center at the corner of North Durango Drive and North El Capitan Way, for $14.5 million.
The partially developed center houses a Del Taco restaurant and Jack in the Box restaurant and a multiunit inline building on three pads. That has been the configuration since 2010. Developers are in predevelopment on the remaining seven pads and in talks with potential tenants, including national food, restaurant and big-box retailers.
Durango I-95 LLC believes revitalizing the center, unfinished since the Great Recession, will be a “strong symbol” of northwestern Las Vegas’ economic recovery.
The company is partnering with Silver State Realty and Investments and CAI Investment Series 1000 to complete and upgrade the project. Officials said the work could create up to 300 jobs.
The center could benefit from its location, with new master-planned community Skye Canyon under construction nearby. At build-out, Skye Canyon would bring 9,000 new homes to the area. The release also said more than 150,000 people live within a five-mile radius.
Law firm goes downtown
Fisher & Phillips LLP’s Southern Nevada office has moved to downtown Las Vegas, making it the first national law firm to relocate there.
The firm, which focuses on labor and employment law, employee benefits and business immigration, is now located at the Bank of America Plaza, 300 S. 4th St. The new location is across from the National Labor Relations Board and closer to the Nevada Employee Management Relations Board, enabling the firm to better serve clients whose employees are represented by unions.
“We are looking forward to continuing to assist downtown businesses — along with all of our other statewide clients — by providing practical business solutions for employers’ workplace legal problems,” Mark Ricciardi, Fisher & Phillips regional managing partner, said in a statement.
“Employers face new challenges created by laws permitting medical marijuana, recent court decisions in the area of disability and pregnancy protection, and looming proposed regulations which will drastically change which employees can be considered exempt from the overtime pay. Even without any new laws, most employers still need assistance dealing with employee complaints of harassment, discrimination or wrongful termination.”
As part of its new downtown presence, the firm plans to present, in conjunction with the City of Las Vegas, a series of free seminars to help other downtown businesses deal with workplace issues that have serious legal consequences. The seminars will be conducted as City Halll during the first half of 2016.
Fisher and Phillips LLC employs 330 attorneys across 31 offices nationwide.
