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5/14/2013 7:55:53 AM

Aliante is a community on the north side of Las Vegas. It can be reached by going north on Highway 15, turning west onto 215, then turning north again onto Aliante Blvd.

This community is jointly developed by American Nevada and Del Webb. It occupies an area of 1905 acres, has 6,500 residential units, and has a shopping center, a casino and 428 acres of open space, which includes a golf course, three parks and one 20 acre theme park called Discovering Nature. In this park, there is a pond where children can feed ducks, a sand box where they can dig for dinosaur bones and an outdoor theater.

A large area inside the community is a Sun City, which is exclusively for silver hair crowd. Aliante is very close to Nellis Air Force Base, so frequently military jets fly in formations across its sky. Many military personnel live in this community, which maybe said as one of its special features.

The casino there is jointly developed by Station Casino and Greenspun Group. It occupies 40 acres and its interior design is very similar to that of the Red Rock Casino in Summerlin. Only, instead of red color accent, it has a blue as its color theme.

The casino cost 660 million to build and it had its grand opening in November, 2008, only to declare bankruptcy in July of 2009. By then the casino owed 380 million while its cash flow was merely $530,000. So, the debt holders organized a company to take over the casino. The largest share belongs to a Korean American Kim Soo-hyung, who owns 60%. The new company hands over the management to Station Casino.

As the financial crisis swept through the area, Aliante, being in the center of North Las Vegas, took a major hit, where the house price sunk to one third of its original value. Currently there are 53 houses on the market, 5 of them selling above $300,000, 17 selling between $200,000 and $300,000, and 31 below $200,000.

The most expensive one is built in 2012 and is asking for $319,000. It has 4200 sq ft, 5 bedrooms, 4 baths and a three car garage.   

The cheapest one is built in 1997 and is asking for $86,000. It is 1700 sq ft, in a lot of 6000 sq ft, and it has 3 bedrooms, 4 baths and a two car garage.

Houses in Aliante are generally smaller and cheaper, but all the houses along its east side on Deer Springs Blvd are luxury houses that occupy more than half acre lots.

Along Deer Springs the most expensive house is asking for 6.45 million. Its main building has 8236 sq ft, with a 3000 sq ft guest house at the back. It is built in 1998 and it occupies 10 acres and has 8 bedrooms and 10 baths.

Aliante is some distance away from the Southwest, where the ethnic Chinese tend to congregate, but houses there are new and cheap. It is a place with investment potentials.