Friday, August 15, 2008

News trumps the Snark.

Here's what I wrote last night before bed.

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I've been trying to catch up to my reading from our three day vacation. Bulletin didn't have much -- except I'd like to point out that you needn't say "two twins," pretty much the same thing, you know.

There was this little nugget from the Housing Bubble Blog:

In Business Las Vegas from Nevada. “The shutdown of Boyd Gaming Corp.’s $4.75 billion Echelon resort will have a far-reaching effect on Southern Nevada’s economic climate - both good and bad - analysts and economists say. ‘It’s like going through the North Atlantic during iceberg season,’ said Keith Schwer, director of UNLV’s Center for Business and Economic Research. ‘We’re just not seeing everything yet.’”

“Boyd Gaming announced Aug. 1 that it was mothballing the 5,000-room Strip resort being built on the 64-acre site formerly occupied by the Stardust. The shutdown pulled 800 construction workers off the job.”

“The postponement of Echelon Resorts is likely to put more strain on the Las Vegas housing market. The housing industry was counting on the creation of thousands of jobs with the opening of new resorts to help lift the market out of its doldrums of the past two years.”


Wow. 4.75 Billion. 800 construction jobs. 1000's of resort jobs.

Good to know that there are even crazier places than Bend.

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Only to wake up this morning to THIS: Bend Bulletin, August 15, 2008.

A BIGGER DOWNTOWN FOR SISTERS?

Plans to develop a 10-acre property at the north end of Sisters could create four new city blocks with a mix of housing and commercial space next to the city’s new post office, city and real estate officials said Thursday.

The development, called Black Butte Crossing, would include 32,000 square feet of commercial space and up to 243 apartment units comprising roughly 340,000 square feet when built out over four to seven years, according to representatives of the project and plans filed with the city of Sisters...


You really have to read the whole thing. It makes look Juniper Ridge look like a realistic project.

The Bulletin was smart enough to include a question mark.

I'd be amazed if this ever happens.

Announcing a project isn't the same thing as actually building a project.

But I take it back about Las Vegas being crazier than we are.

2 comments:

Anonymous said...

Wow. 4.75 Billion. 800 construction jobs. 1000's of resort jobs.

Good to know that there are even crazier places than Bend.

*

No dunc, exactly the same as Bend, worthless desert land got for nothing by tier-1 investors.

Do you know the history dunc shall I explain.

1.) US lost CUBA for whores&gambling in the 60's, and the mob was given vegas, they built the city.

2.) In the 70's the mob was shutdown, and corp USA built vegas.

3.) In the 80's the mormon church bought out vegas.

4.) In the 90's the corp-usa bought back into vegas.

5.) In 2000's the land rush started, and money-funds poured in money for homes & casinos.

Today once again vegas will go down, its always been a boom/bust town, and most likely IMHO the mormon church will buy it all back for penny's on the dollar. The church has this funny idea in UTAH there is no whores and gambling, but next door, no problem. The mormon church has the money. They know it will come back, and they'll sell it again.

The mob will never come back, they have been legitimized, and now own public-unions like ED, Police, and Prison.

Anonymous said...

Regarding sisters, I find it exactly on target that APARTMENTS are coming in.

HOLLERN has dozens of approved high-density apartments coming in Bend.

The same for Sisters, its the future of Central Oregon, high density housing, for all the people who clean rooms, work food, or do retail.

Not much really needs to be said, except that the BULL is having folks take the eye off the ball. The ball is in Bend.

Sisters is a diversion.

Given that in the last ten years people in Sisters were sold elitism, and acreage its odd that they would allow chicago style tenements even with false western fronts. It should be interesting to watch.

Historically for the newbies lets remember that in the 'day' Sisters was single-wide trailer parks, they got turned into STD's, now the working poor have no where to live, and now HOLLERN(BROOKS-100's of LLC's) are putting in high-density housing, deja-vu.

The irony is the suckers who paid $1M or more for exclusivity, are in fact in GRESHAM, and NOT Aspen.