Monday, Dec. 21, 2015 | 9:54 a.m.
A $1 million redevelopment project could bring new restaurants and retail to the Arts District next year.
Investors have started six- to nine-month renovations on an 11,000-square-foot property at the southeast corner of Main Street and California Avenue, across the street from Casa Don Juan, a Mexican restaurant. A furniture store used to occupy the building.
Staff from the city of Las Vegas helped the investors, who focus on urban development, locate downtown. Metroplex Group will lease the space and manage the property at 1201 S. Main St. dubbed “The Corner Building.”
The renovations will create units ranging in size from 720 square feet to 7,000 square feet, most likely occupied by five to nine tenants in total, said Paul Murad, president of Metroplex Group. He envisions a mix of eateries, retailers and perhaps an urban lounge. The space will feature a courtyard and a six-foot wide raise platform on Main Street and California Avenue.
The investors bought the building in August for $1.35 million through an entity called Main Street Investments II LLC. State and county records do not clearly identify the people behind the group, offering only one name, Sarah Barton. Her listed address, in Henderson, is the same as InCorp Services, a business-incorporation company.
Murad declined to name the investors but said they're based locally and in California, Florida and New York.
Metroplex Group has signed letters of intent with several retailers, but nothing has been formalized. The company is looking for national and regional retailers as well as local ones. Last week, Murad attended an International Council of Shopping Centers conference in New York City to spread the word about retail opportunities related to the project.
“We’re trying to really go get the Arts District out there and the exposure it needs,” Murad said, adding that he believed the area would see many more redevelopment projects. “It’s more sustainable and long-lasting.”
In the meantime, the developers plan to offer pop-up events and artist showings at the location. Street artists also will work on some of the building’s walls.
Developers said the project would create dozens of downtown jobs both during construction and afterward.