Is Gramercy a Sign of Changing Times in Vegas?

Is the Ghostification of Las Vegas Over?

First, we had the Manhattanization of Las Vegas, when hi-rises sprouted all along the Strip.

Then the Great Recession hit, and the building boom halted, leaving the shells of unfinished buildings all over the Las Vegas valley. Add in thousands of vacant homes, and you have the ghostification of Las Vegas.

But could we be moving on to a new (unnamed but hopefully better) era?

Manhattan West, abandoned in mid-construction in 2008, is now slated to be Gramercy, with construction scheduled to start in fall. It’s one of a few projects, like the Shoppes at Summerlin and the Echelon (now Resorts World Las Vegas) that are getting new hopes as the economy tries to gain traction.

What’s next, SoHo-ization? That’s my vote.

What do you think Vegas' next era will be? 

Update, March 17, 2014:
Construction has finally resumed on this project & the plans for it look pretty ambitious:
http://www.vegasinc.com/business/real-estate/2014/mar/03/construction-restarts-mixed-use-gramercy-project/

_______________________ 

Sources:

Vegas Inc. articles on Grammercy, Summerlin Shoppes, and Resorts World Las Vegas

Picture by Terrisa Meeks