Allure Las Vegas Completion at Forefront of North Strip Development

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Allure Las Vegas, the tallest residential high-rise in the city of Las Vegas is complete. First residents of the 41-story luxury high-rise condominium to begin moving in.

Allure Las Vegas, the tallest residential building in the city, is officially complete. Built by general contractor Bovis Lend Lease, the project recently received its initial Certificate of Occupancy. First residents of the 41-story luxury high-rise condominium are expected to begin moving in as soon as next week.

Strategically located in the heart of billions of dollars in proposed development activity, the completion of Allure Las Vegas leads the way in a shift of redevelopment efforts focused at the north end of the famous Las Vegas Strip.

"I'm very excited to see Allure's completion," Mayor Oscar B. Goodman said. "This property sits at a strategic intersection and is the new gateway to downtown Las Vegas and all the exciting development we are seeing in the city's core. Allure serves as a connector between the Strip to the south and the Arts District, Entertainment District and Union Park to the north."

Allure residents will be the first to benefit from the flurry of redevelopment activity and property acquisitions in the area. According to a number of recent media accounts, Allure's location will soon be surrounded by some of the biggest projects in Las Vegas. Most recently, Aspen Highlands Holdings, LLC purchased the former Holy Cow Casino, Cafe and Brewery site, once destined to be an Ivana Trump condo tower, for $47 million. The Sahara Hotel and Casino was purchased by SBE in March, and announced a $300 million redevelopment of this historic Vegas property.

Just weeks later, Publishing and Broadcasting Ltd, an Australian media and gaming company put up a 20% cash investment into the Fontainebleau, a $3 billion development planned just south of the Sahara Hotel that is now under construction. Also, MGM Mirage announced that they had purchased 34 acres of vacant land just south of Allure for $535 million, with plans to do a City Center-type project on 40 acres in partnership with Kerzner International, owner and developer of the famed Atlantis resort in the Bahamas. And finally, the Stratosphere Hotel & Casino along with 17 acres on the North Strip was purchased by Goldman Sachs Group Inc.'s real estate funds, with plans to redevelop the property into a resort-casino with a convention center.

"The north end of The Strip is undergoing major changes that define a new Las Vegas," said Steve Bottfeld, Executive Vice President for Marketing Solutions. "With the completion of Allure, this area has gone from not just good to great but to incredible. There is more than 30 billion dollars of development activity taking place on The Strip."

Allure Las Vegas features 428 units and 15 distinct open floor plans with studio, one, two and three bedroom residences which range in size from 671 to 4,400 square feet, in addition to tower suites and extraordinary two-story penthouses.

Allure's few remaining residences are remarkably priced from the mid-$500,000s and are selling quickly. Each of the luxury units offers premium views of Las Vegas and the surrounding mountains, superb amenities and exceptional finishes.

Allure's large outdoor pool deck with private, exclusive cabanas is overlooked by a well-appointed fitness center with locker rooms and a media center, conference room, catering kitchen and business center equipped with high speed internet computers, wi-fi in all of the public spaces, resident storage, 24-hour security and valet parking. Allure will have a fiber backbone so all units will have a large bandwith connection available for video and data. Additionally, a
private wine cellar will offer climate controlled storage for residents. Allure Las Vegas is also the only high-rise residential development in Las Vegas offering feng shui design.

In addition to its proximity to the greatest dining, shopping, restaurants and nightlife on the Strip, Allure provides easy access to downtown, I-15 or Sahara for ease of travel to or from anywhere in the Vegas vicinity.

Allure Las Vegas is a project of The Fifield Companies, in a joint venture with CB Richard Ellis-Strategic Partners and ABF, Inc. - an Andrew Fonfa investment company.

One of the nation's premier developers of luxury high-rise condominiums, rental apartments and urban office towers, The Fifield Companies has earned a reputation for creating superb living and office environments in some of the country's most renowned locations, including Chicago, Ft. Lauderdale, Los Angeles, San Francisco, Las Vegas and Honolulu. Fifield has developed and built more than 50 projects in the United States worth more than $4 billion. The company also has 13 additional projects under development worth an estimated $2 billion.

For information on Allure Las Vegas, visit the website at http://www.AllureLasVegas.com or the Las Vegas Sales Center at the Fashion Show Mall, directly across from Wynn. The Sales Center is open Monday through Saturday from 10 a.m. to 6 p.m., and Sunday from noon to 5 p.m. Or, call 702.699.8998.

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Allen Lester
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Michelle Loosbrock
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