If you’re booking a stay in Las Vegas at the Plaza Hotel and Casino after 2010, make sure you’ve got the right hotel. 

The Plaza Hotel of New York fame is planning a $6 billion dollar hotel for the Las Vegas strip.  The only problem is that there already is a Plaza Hotel in downtown Las Vegas. 

The Plaza has been around Las Vegas for over 30 years, offering budget accommodation and cheap slots.  Tamares Las Vegas Properties bought the Plaza in downtown Las Vegas in 2004 and is now filing suit against the investors behind the project to bring the New York brand to Las Vegas. 

The court fight over who can use the Plaza name will continue for months, but the Elad Group is still moving forward with plans to build the multi-billion dollar hotel and casino.  Completion is slated for 2011. 

The 34.5 acre site is currently home to the New Frontier Hotel and Casino which will soon be demolished to make way for the luxury development. 

Plans call for a mixed use project, including a 3,500 room hotel, condos, retail space, and a casino.  The hotel will offer the same luxurious amenities found at the landmark Plaza Hotel on 5th Avenue in New York City. 

Find the best Real Estate in Las Vegas, Nevada.  Buyers can choose from luxury condo hotels such as the Plaza, single family homes, and other condo and loft developments around the city.

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The Las Vegas real estate market is seeing heavy development of luxury lofts in neighborhoods around the city. Green Valley is one of the most popular new masterplanned communities that offer luxury homes, condominiums, and lofts in a suburban setting.

The District Lofts is one of the newest real estate projects announced for Green Valley. These lofts will offer units ranging from 875 square feet to 1750 square feet. Prices start at $350,000 for the smaller lofts.

Amenities at the District Lofts include energy efficient features throughout the property, washer and dryer, and high ceilings. Residents can also enjoy the rooftop garden with grills, bar, and spas. There is also concierge service and security on staff 24 hours a day.

Green Valley is a master planned community that offers luxury homes and condominiums just minutes from the Las Vegas strip. Residents are also close to several hiking and biking trails in the mountains, offering an active outdoor lifestyle minutes from the best entertainment and casino action on the strip.

Lake Mead, the Grand Canyon, and other national parks in the area offer residents a chance to get away and enjoy nature at its best.

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With some major real estate markets around the United States going through rocky times, many wonder if the turn for Las Vegas has finally come. The current crisis in the real estate market in major cities such as Miami is caused by many factors.

Subprime loans are considered a major cause of the current real estate crunch. During the past few years, lax loaning standards have meant easy credit for underqualified buyers who are now unable to cover these loans at current interest rate levels. As more condos, homes, and lofts go on the real estate market in Las Vegas, many more foreclosures could appear on the market as owners are unable to continue servicing their loans.

Las Vegas has seen much speculative building in neighborhoods throughout the city. Several projects have already been cancelled, but many homes and condos are now lying vacant on the Las Vegas real estate market. As more homes are offered for sale on the market, prices will continue to drop. There are niche markets in Las Vegas that could remain resilient during this rocky ride, but there will more than likely be further drops in prices.

However, this may mean opportunity for buyers looking for Unique Las Vegas Homes at prices that haven’t been seen in years. A correction in the real estate market could mean that many buyers who were priced out of the Las Vegas real estate market can now enjoy the benefits of home ownership.

Technorati Tags: Las Vegas Real Estate Market, Foreclosures, Unique Las Vegas Homes, Las Vegas Condos