A groundbreaking ceremony was held Friday for a new resort-style apartment complex in the southwest part of the valley.
The Mercer was originally supposed to begin in 2006 but the recession hit, setting back the project.
Developers say construction marks a big turnaround in the economy in Las Vegas.
"Back in '08 and '09, and everybody thought Las Vegas was never going to come back, we're bringing The Mercer back just like Las Vegas has come back," said Wayne Laska, owner of StoryBook Homes. "We feel very confident about the market."
The Mercer will have 144 units of one- and two-bedroom apartments and 31 townhouses and penthouses, which will be leased out starting next year. The apartments will be located at Tropicana Avenue and Grand Canyon Drive.