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The mayor of the
city of Las Vegas, Oscar B. Goodman, has not been shy about promoting
downtown Las Vegas as a place to live, work and play. Guided by his
vision for the redevelopment of the downtown, developers have been
investing millions of dollars in new development in the city’s core.
Since 2003, a total
of 47 downtown mixed-use projects have been approved by the city council
or are in the review process. These projects will include more than
16,000 residential units and will add to the vitality and vibrancy of
the area.
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The first
mixed-use project out of the ground was the Soho Lofts development,
located at the southwest corner of Las Vegas Boulevard and Hoover
Avenue. The 15-story building will include a total of 120 loft
units and 4,000 square feet of ground-floor retail when completed
later this year. Rooftop amenities include a swimming pool and
fitness room for residents. Developer Sam Cherry has been so
pleased with the response to the residential sales that he has two
more mixed-use projects in development in the area. |
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If high-rise towers
aren’t for you, developer Larry S. Davis is offering an alternative:
three-story live/work townhomes that will allow owners to operate a
business from their home. The firm has constructed similar developments
in Atlanta, Dallas and Houston, and has been overwhelmed by demand for
the units. The flexible design of the units allows the ground-floor
space to be configured as office space, or converted to a secondary
bedroom if desired. Living spaces are on the upper levels of the unit
and feature an open floor plan and two-story spaces. Each unit will
include an enclosed two-car garage, accessed from an interior auto
court.
Mixed-use projects
aren’t the only type of development generating interest in downtown Las
Vegas. An additional 49 commercial or institutional projects are in the
approval process or under development.
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The Lady Luck
casino, in a dramatic revisioning of the property, has enlivened
Third Street with a combination of new restaurants and clubs.
Rather than developing the new uses within the casino area, the
businesses front directly on Third Street, with valet parking
service available at the curb. The businesses range from Triple
George, an upscale restaurant, to Hogs and Heifers, a rowdy bar that
will appeal to the biker crowd. Additional clubs and restaurants
are in the works. |
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The burgeoning
Entertainment District, located on Fremont Street east of Las Vegas
Boulevard, furthers that urban vibe with a number of new clubs that
are underway. The Beauty Bar, a branch of a popular club out of New
York and Los Angeles, is already under operation on Fremont Street.
The club will be joined by The Griffin, several doors down on
Fremont Street, which is also a branch of a popular L.A. venue.
Also under development in the area is Hennesey’s, an authentic Irish
pub, and Mickey Finnz, a casual brewpub. |
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While restaurants
and entertainment are generating much of the interest in downtown Las
Vegas, office and commercial development is also moving forward at a
rapid pace. The World Market Center, located at the northwest corner of
Bonneville Avenue and Grand Central Parkway, opened its first phase to
enthusiastic crowds in July 2005. Phase II will add 1.6 million square
feet to the development; initial site work on the second phase began
last month and is scheduled to be completed in 2006. Additional phases
are anticipated, with the eventual build-out to encompass more than 8
million square feet of floor area. Just down the street from the World
Market Center is the Las Vegas Premium Outlets mall, which has enjoyed
much success since opening in August 2003. Due to overwhelming demand
for space at the center, an expansion program is under way to add
additional shops, restaurants and structured parking.
The surge of new
development in the downtown area is a dramatic footnote to the city’s
recent Centennial celebrations. What began as a small desert settlement
by the side of the Union Pacific railroad tracks in 1905 has become a
vibrant place to live, work and play.
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