Commercial construction nears standstill in Vegas
LAS VEGAS -- According to a Las Vegas research firm, the ailing economy should bring commercial construction to a virtual standstill around Las Vegas next year.
Applied Analysis says nine major commercial projects are under construction in southern Nevada off the Las Vegas Strip.
Jake Joyce of Applied Analysis says development will essentially cease once most of the projects wind down early next year.
He says that's in sharp contrast with 2007, when commercial development was booming and there were 75 to 100 projects under construction.
Analysts say they don't expect another major casino project on the Strip for another decade after completion of most of the $8.5 billion CityCenter casino development in December.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
