Steve Hartley

"We are not looking to compete with the multimillion-dollar condominiums near the Strip, but rather provide affordable, luxurious homes for those that live and work in the area," said Steve Hartley, a partner of Northwest Resource Management Group.
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Hartley said he's been looking at the Las Vegas market for a long time and probably wouldn't have purchased the property three years ago.

"But the fact is the city of Las Vegas is moving very quickly, they're putting up stuff all over," he said."We're taking some inexpensive land and let's face it, we're 10 blocks from Fremont Street.We're not in the middle of the desert.You've got the (Lied) Children's Museum, the (Sawyer) state building."

The area is known as a refuge for the homeless and has a high crime rate, but Hartley said he worked with a much worse area on the outskirts of Indio, Calif.

"This isn't the first time we tried this model," he said.

"We are thrilled with the unanimous approval by the city council and we look forward to providing the citizens of Las Vegas affordable loft-style condominiums with magnificent views of the surrounding mountains and city lights," said Steve Hartley, Partner of Northwest Resource Management Group."We are not looking to compete with the multi-million dollar condominiums near the Strip.Our goal is to offer affordable, luxurious homes for those that will make this their primary residence.Providing more affordable homes on the edge of fast-growing urban areas is a model that has worked very well for us," Hartley added.

Steve Hartley, partner with Northwest Resource Management Group, said this week the company filed project plans with the city of Las Vegas.The project still needs to come before the planning commission and city council for approval, scheduled for May and June, respectively.

If approved, the condo tower would be the first Las Vegas project for Northwest Resource Management Group.The company has developed single-family residential in California and an 11-story building in Seattle, Hartley said.

"The single-family market in Vegas is crowded with players," he said.
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Hartley said the company goes into a metropolitan area that has good growth, and then works on the outer rim of that area, enabling the company to provide a less expensive product.

Hartley said the company closed on the 2.8-acre site Tuesday for $1.2 million.Records at the Clark County Assessors Web site do not yet reflect a sale.

Hartley said the low land price would allow the company to sell units 1,000 square feet to 2,000 square feet for $295,000 to more than $500,000.If approved by the city in June, Hartley said he anticipates construction beginning later this year.

Steve Hartley, Northwest's principal, said the company was hoping to finish negotiations soon with a retail anchor tenant, then begin meetings with city planners and the neighborhood to discuss the project design.Construction is planned for 2006, with the building to be occupied in 2007.

"We think having Whole Foods will literally make this project," said Steve Hartley, a principal for Seattle's Northwest Resource Management Group, which plans to break ground on the $45 million complex late this year and complete it by mid-2008.

Above the ground floor, the group plans to build 185 apartments in five stories, ranging from one bedrooms (750 square feet) to three bedrooms (1,200 square feet).

Rents may average about $1.90 per square foot.The average area rent is about $1.65, with some as low as $1.25, Hartley said.