Alliance's garden-style apartment development is being calledBroadstone Sonata. Planned amenities include: a resort-style pooland spa; several "tot lots"; a sports field; circuit trainingexercise trails with multiple fitness stations; a multimediaathletic club with free weights and extensive cardio equipment; aclubhouse with demonstration cooking kitchen; and a multi-mediacyber cafe with plasma TVs and Wi-Fi Internet access.

Dan McCadden, managing director of Alliance Residential's WestCoast operations, which includes Las Vegas, did not return a phonecall seeking comment on whether the company has securedconstruction financing for the project. In a prepared statement hesays the tens of billions in resort development under way on theLas Vegas Strip will create thousands of new permanent jobs,increasing the demand for rental housing.

"Despite the perceived setbacks in our nation's economy, the LasVegas apartment market remains particularly strong," he says."Population growth is expected to exceed 12% by 2012, labor andmaterial costs are declining, and an unprecedented number of hotelrooms are poised to come on line. [The next two years] will befantastic years for apartment owners and developers."