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The following article was published in our article directory on May 22, 2012.
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Las Vegas Condo Information: Meridian condos, Las Vegas

Article Category: Travel

Author Name: {ALPHONSO GONZALEZ|ALTON NELSON|ALVA CARTER|ALVARO MITCHELL|ALVIN PEREZ|AMADO ROBERTS|AMBROSE TURNER|AMOS PHILLIPS|ANDERSON CAMPBELL|ANDRE PARKER}

The Meridian condo located at 250 East Flamingo Rd (Flamingo & Koval Lane ) are extremely popular for a number of reasons: the Meridian is just a short walk from the Strip, the condos deliver lush landscaping, atmosphere and facilities, the units are less costly than luxury skyscraper Strip condos.

This appeal is notwithstanding the property's legal woes, and in reality it is these legal concerns that are contributing factors in keeping prices attractive. The Meridian Private Residences started out as an apartment building, was switched to condos, then changed to a hotel. This hotel operation was ruled illegal by Clark County and the Meridian reverted to a condo.

The property has 16 acres of tended gated grounds, that have an European atmosphere. But, its lawns, water fountains and pools are more sophisticated than Caesar's Palace. On the property there is a Service Center which has DVD rental, maids, post services, and food items. There is also a porter , boardrooms, movie theater room, clubhouse and a business center. All homeowners can use the gated below ground parking, and there is extra auto parking for visitors. The units range in size from 530 square feet through to a two bedroom apartment at 1,005 Sq Ft.

Owners have filed several complaints with the Nevada Real Estate Commission about the development, including that the property developers broke state law on how HOAs are to be run. But, the Meridian's dramas started when it was found to have been running as an illegal hotel.

American Invsco, a Chicago business, converted the Meridian from apartments to condos back in 2005. It then started to sell individual units to individuals and run it as a condo-hotel. Clark County shut down the unlicensed hotel operation in July 2008 and it was ultimately fined $ 568,000 for overdue taxes.

Meridian personnel Rebekah DeSmet was brought to court and faced two charges for zoning and license infractions. The owners contested that local authorities knew that it had been open as a hotel, and that this was confirmed in November 2007 when a "renewal" of a license to operate transient lodging at the Meridian was assigned. However, the authorities claimed that this was an error in its records and that a renewal could not be issued since no valid license was given originally.

The condo-hotel shutdown saw the end of the rental income that some homeowners claim they had been guaranteed during the time of acquisition. With most owners counting on the rental income to make home loan payments many units went into foreclosure. The homeowners made several complaints, from the fact that they had been unwittingly underinsured and not covered for the liabilities that a hotel and resort is exposed to, right up to property loan fraud. The litigants asked the court to rescind their purchase contracts, and award compensation.

Keywords: Las Vegas home values, las vegas real estate, las vegas homes for sale

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