The units will be priced between $350 and $400 per sf and will come equipped with a built-in home theater system anchored by a 42-inch plasma television, hardwood floors, stone and marble countertops, and GE Profile appliances. The higher finish with the lower pricing is attributable to the low-rise, wood-frame construction, which costs substantially less than high-rise, concrete-and-steel construction, says Rae.

"We tried to craft a product that had [financial] accessibility to locals, something in between the high-rise towers and the tract homes," he says. "And we wanted people to get something that is complete as opposed to the tract home bait-and-switch where the frontline price gets you nothing and by the time you're done with the upgrade game you've spent another $50,000."

The Light Group was a partner in Hallier Properties' Panorama Towers development, a multi-high-rise development that has met with much success. "A lot of its marketing success had to do with its connection to Light Group," Rae says.

Then as now, Rae says Light Group is selling lifestyle, and they have a good idea what people like thanks to businesses like Light at Bellagio. "We employ 500 people throughout the hospitality side of our business and the access to the market through those outlets is enormous," he says. "It lets you know what's appealing and what's not appealing."