Plans shape up for downtown land

Downtown Las Vegas' last large undeveloped chunk of land is being eyed for both high-density residential and upscale offices.

Mike Forche, president of the City Centre Development Corp. told the CCDC Board of Directors on Tuesday that plans are shaping up for the 178 acres of land owned by Union Pacific and Lehman Brothers adjacent to the downtown redevelopment area.

The first major proposal for the railroad property calls for Opus Corp. to build a 130,000-square-foot office tower on five acres directly west of the Clark County Government Center.

"I think it's a big move to have Opus come in," Forche said.

Opus is considered one of the three top developers of office space nationwide. The company, based in Phoenix, was "willing to pay more for the property" to Union Pacific than another top prospect, Forche said.

For the next six months, Opus will send representatives to Las Vegas weekly to scope out the site and work on conceptual plans for the project.

Las Vegas also is planning to send a delegation - including Forche and City Manager Virginia Valentine -- to visit Opus sites in Phoenix.

Although the final deal is six months away, Forche said he is confident Opus likes Las Vegas.

It is possible that Opus will negotiate with Union Pacific for the first right to 35 acres of land adjacent to the planned office tower - for development of an office park.

Opus is a family-run business with all of its services - from real estate to leasing and financing - handled in house.

"They see the office market here as having long-term potential," Forche said. "They're methodical. They're not here to hit a home run and leave."

Forche said he does not expect Opus to seek any city redevelopment funds.

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