The city of Las Vegas is looking for a developer to turn a spread of vacant property downtown into a hub of activity.
Las Vegas officials on Monday announced a request-for-proposals for roughly 11 acres of city-owned real estate. The site is basically a collection of empty lots along the east side of Las Vegas Boulevard just south of Interstate 11, with a street grid separating the parcels that could be changed or vacated to create a “unified development site,” city documents show.
According to a news release, the city wants a variety of project ideas for the land, including hospitality, entertainment, sports, housing and offices, along with a civic or public safety component.
City officials have been working for years to revitalize downtown Las Vegas, which has seen big changes and improvements over the past two decades but is still laced with vacant lots, boarded-up buildings and other blight.
Mayor Shelley Berkley said in a statement that the newly released assemblage offers the opportunity for a “visionary developer to impact the landscape” of the city, adding a “blank slate with a Las Vegas Boulevard address is not something that comes along every day.”
Interested developers must submit a proposal that includes a project description; purchase price and terms; economic impact and community benefits; and project timeline.
The submittal deadline is Dec. 16, with proposals sent to Las Vegas’ economic and urban development department.
As explained by the city, the selected developer will enter into a disposition and development agreement with the city, and the land will change hands “only after the project is permit-ready and proof of financing is provided.”
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.
