The English Residences, a Tribute Portfolio Residence
Offering:
20,000,000
Construction Loan
22
LTV of Condo Sales
Value: $95 million in Condo Sales (almost 40% pre-sold)
DETAILS
Project Overview
- Project Type: Mixed-use Condo-Hotel (Mid-Rise Tower)
- Location: 917 S 1st Street, Las Vegas, NV (7 parcels)
- Stories: 8 total (2-story concrete podium + 6 floors of framed condo units
- Total Units: 121 Luxury residences within a branded Marriott Tower
- Total Sales Value: ~$95 Million (with nearly 40% pre-sold)
- Land size: 1.20-acres | 52,274-sqft.
- Zoning: General Commercial
- Land Value: (per assessor) $5,390,000 – as is, not including rezoning completed
- Exit Strategy: Loan will be repaid via unit sales.
INFORMATION
Why This Market?
- Located in Las Vegas’ Arts District, the city’s fastest-growing redevelopment zone with a 5,000-unit housing shortage.
- Centrally located near the Medical District, Convention Centers, Museums, Cultural Venues, and Fremont Street Experience — offering unmatched access to everything Downtown Las Vegas has to offer.
- Part of the $1.3B Midtown master plan, featuring 3,000 units and 11 acres of walkable residential, retail, and hospitality.
- Branded residences with hospitality options are in high demand — Las Vegas sees 40M+ annual visitors.
- Co-branded condo-hotel model offers flexibility for short-term rental income or hotel-managed participation.
- Units are priced below market comparable for branded, high-amenity properties in urban Las Vegas
Centrally Located
High Demand
Unmatched Access
invest in midtown
invest in midtown
invest in midtown
invest in midtown
invest in midtown
Tower Breakdown
Podium (Floors 1–2):
- 1st Floor (16,286 sq ft): Hotel lobby, restaurants, and retail
- 2nd Floor (17,755 sq ft):
- Speakeasy bar
- Full gym
- Residents’ lounge
- Banquet space (2,500 sq ft)
Residential (Floors 3–8):
- ·Studios: 26 units | Starting at $300,000
- 1 Bed / 1 Bath: 60 units | Starting at $690,000
- 2 Bed / 2 Bath: 20 units | Starting at $1,060,000
- Penthouse Units:
- 1 Studio Penthouse | $770,000
- 8 One-Bedroom Penthouses | Starting at $1,400,000
- 6 Two-Bedroom Penthouses | Starting at $1,799,000
Timeframe
- April 25, 2025: Demolition begins
- August 1, 2025: Vertical construction starts
- Q3 2026: Project completion
- Turnover condo units by August 2026
- Completion of retail by September 2026
Capital Stack & Use of Funds
- Senior Construction Loan: $20,000,000 (22% LTV of sales)
- Mezzanine/EB-5 Capital: $8,000,000
- C-PACE Assessment: $21,705,000
- Total Debt: $49,705,000
Use of $20M Construction Loan:
- Pre-construction design, permits, and fees: $7.15M
- Hard construction & GC/Subs: $12.85M
*Investors in the senior debt position, first to be repaid after taxes and a percentage C-PACE debt
Developer Information
ZLIFE at 917 First St, LLC 3960 W Point Loma Blvd, Ste H365 San Diego, CA 92110
Guarantors:
- Weina Zhang – Member
- Anna Olin – Member
Weina Zhang – Co-Founder, ZLife
- Pioneered unitized curtainwall tech; grew her company from $1.5M to $50M+
- Led facade work on Salesforce Tower, WTC Tower 1, Fontainebleau, and more
- Honored among “50 Outstanding Asian Americans in Business”; credited with $30M+ in developer cost savings
Anna Olin – Co-Founder, ZLife
- Developed ZLife’s structural framework for faster, lower-cost mid-rise builds
- Oversees operations, design, and construction-forward development execution
- Background in major national projects; holds credentials in estimation, LEED, and business
General Contractor
James Donofrio, Trident Construction
- 30+ years of experience with over $3B in project development and management across Nevada, Utah, and California
- Led major builds including The English Hotel, Panorama Towers, and Venetian Resort & Casino; awarded Sands Achievement Award for cost control
- Trident has completed $100M+ in contracts in the past 10 years, serving as GC, CM, and Owner’s Rep on high-profile developments
- NV State Lic. No. 12706 B unlimited
Due Diligence Materials
The following supporting documents are available upon request:
- Detailed Project Budget
- Construction Documents and GC License
- EB-5 Capital Structure and Investment Overview
- Guarantor Financial and Background Information
- Marriott Franchise Agreement Summary
- Development Timeline and Schedule
- ZLIFE at 917 First St, LLC Organizational Documents
Site Parcels
(7 Contiguous Parcels | Total: 52,274 sq ft)
- 917 S 1st Street | APN: 139-34-410-017
- 920 S 1st Street | APN: 139-34-410-015
- 919 S 1st Street | APN: 139-34-410-016
- 926 S Casino Center | APN: 139-34-410-037
- 922 S Casino Center | APN: 139-34-410-036
- 916 S Casino Center | APN: 139-34-410-035
- 912 S Casino Center | APN: 139-34-410-034
