I know what it means for Vintage Vegas. Most of the new homes and apartments that will be built to house them will be “suburban sprawl”. Much of the growth will be outside the valley. Go South on I-15 over the hill and take a look south to Jean. Imagine it totally filled in with houses and condos and stores and schools and parks. Imagine the commute to work at the strip, or downtown. Imagine I-15 at a constant 5 mile an hour crawl.
Imagine the demand for homes that are 1 or 2 or 3 miles of surface street to get to work. I’m seeing that demand now. Lots of the people who have recently bought in Vintage Vegas, or are contemplating it, are doing so because of commute times.
Of course there’s another whole group that loves Vintage Vegas because they want nostalgia, charm and character. They want to have bigger yards and bigger trees, and they don’t want their home looking just like the one across the street.
For a 5–7 year real estate investment time frame, I’m an absolute believer that the best gains will happen in Vintage Vegas, not in the suburbs. Yes, all those new homes will try to be “affordable” but the commute time and cost will be one of the trade offs. Soulless Suburbia will be the other tradeoff.