Las Vegas Sun

May 1, 2024

Downtown acres likely to land big offer

The city of Las Vegas is on its way to having its holiday wishes fulfilled.

And if Business Development Director Lesa Coder has one gift in mind, it's a developer for 61 vacant acres downtown.

But the nation's top 1,500 developers, Wall Street Journal readers and others may make it difficult for the city to pick just the right present to help ignite downtown redevelopment efforts.

"I'd like nothing better than for them to just overwhelm us with proposals," Coder said.

For once, the city doesn't have a hard sell ahead of it.

Developers are flocking to Las Vegas with interest in what Mayor Oscar Goodman calls "the best piece of real estate in America."

Up to nine calls a day come in to Doug Lien of the business development office thanks to Goodman, who touted him on a special CD-ROM sent to encourage developers to give Las Vegas a serious look.

"We have the best of everything," a smiling Goodman says on the computer disc.

The CD-ROM, professionally produced with slick images of Las Vegas nightlife, golf courses, construction and downtown projects, showcases a city where possibilities are endless.

The 61 acres are exactly that -- a blank page, a clean slate or a canvas from which any imaginable project can rise.

"I, myself, will walk you through the project to make life easy for you," Goodman tells prospective developers. "The only thing that we ask of you is that whatever project you have, has to be absolutely special.

"This project has to have an architectural bent which is second to none," Goodman says. "People have to gasp when they drive by it."

In addition to the slick marketing kits labeled "A Message From the Mayor of Las Vegas," the city has taken out ads in the Wall Street Journal and in the trade magazine Commercial and Investment Properties.

Although officials won't yet divulge all of the interested players, Coder implies they are among "the biggest and best in the nation."

On Friday the city closed escrow with Lehman Bros. for a land swap of the 61 acres and industrial property in the northern part of the city -- sending Las Vegas officials into the three-day holiday weekend with a sense of satisfaction.

Goodman calls the property the key to the city's future. He's so enthralled with it, the city is attempting to get national attention in publications such as Time magazine.

The marketing kit, sent to a select group of Fortune 500 companies, is designed to sell "a once in a lifetime opportunity," as Goodman's letter reads.

UNLV graduate student Kelvin Haywood sees the possibilities when he drives past the vacant expanse just east of the Spaghetti Bowl.

"I think it's even more important than just for the city, because in the United States there's nothing like it," said Haywood, who is working on his master's degree in architecture and recently submitted a proposal for the site as part of his course work.

Haywood said his research leads him to believe the site must be carefully preplanned to prevent piecemeal development of incompatible uses.

"If we're going to create something really important there -- a cultural soul of Las Vegas -- we need to do it as a master plan," Haywood said.

The city quietly agrees, and thinks that the amount of proposals coming in won't fit on the 61 acres alone.

Thus, the neighboring 100-plus acres owned by Union Pacific Railroad could receive some of the spillover.

And although the city doesn't own that land, officials are hoping that they can help encourage the type of development they want to see next door to what they consider their jewel: 100 S. Grand Central Parkway.

The city plans to host a tour for prospective developers Jan. 4 and 5 to show off the land and answer questions. Developers will have until March 3 to submit proposals.

Several proposals can be expected, although Goodman is quick to state that none are on the inside track.

"We will do what's best for the city," Goodman said.

Lamar Hunt, the owner of the Kansas City Chiefs and two Major League Soccer franchises, is proposing a 20,000-seat soccer stadium to accommodate a franchise.

The University regents have a different idea: a massive medical school campus with apartments and shopping nearby.

Since Goodman's first wish was a sports arena, a proposal could come in for anything from a baseball stadium to a hockey/basketball arena.

A selection committee, composed in part of Coder, Goodman and City Manager Virginia Valentine, will meet March 16 to determine a short list of proposals.

Candidates who are lucky enough to make the short list will make a presentation during a special March 28 City Council meeting. And if the timeline remains on course, the city will select the winning project April 4.

The property, for which the city has established a toll-free number, is zoned for planned development. Thus, any type of development, including office, retail, gaming, entertainment or mixed-use, will be considered.

Developers can submit plans for the whole 61 acres or one that breaks the site into smaller parcels.

Since the site is immediately west of the Fremont Street Experience, officials believe it can provide a link from the new downtown to the old.

"I drive by that every day and just imagine how great that could be," cabdriver Joe Williams said. "People ask me all the time what's going to go there.

"I just tell them the mayor is still figuring that one out."

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