The Offering
Coldwell Banker Las Vegas Development Services is pleased to offer a rare opportunity to acquire multiple high-density development sites in an opportunity zone with-in the coveted Las Vegas Convention Center neighborhood.
The development sites are multiple 1-2.5-acre contiguous high-density development sites with a wide range of options including Resort Hotels, Multi-family and condominiums mixed with retail, restaurants, business offices and other compatible commercial uses.
The 1.5 Billion Las Vegas Convention Center has spurred a Massive Influx of new and proposed construction Valued in the Billions creating Tens of Thousands of new permanent jobs and Billions of incremental annual incremental economic growth.
The development sites are multiple 1-2.5-acre contiguous high-density development sites with a wide range of options including Hotels, Multi-family and condominiums mixed with retail, restaurants, business offices and other compatible commercial uses.
A compelling redevelopment opportunity located in strategically important location. The under-Construction expansion of the Las Vegas Convention Center into a World Class Business Center is not the only Billion Dollar + development in the neighborhood.
Smaller mid-rise but important redevelopment is also under construction on Sierra Vista Drive next to some of the development sites.
The Sierra Vista sites are a mix of raw land and multi-family apartments that are 40-60 years old.
The beginning of redevelopment on Sierra Vista has started, as projects are completed, we expect land prices to rise significantly
Location
Located in the heart of the Las Vegas World Business District with a projected 7 million plus visitors per year to the District and additional visitor count from the overflow of 42 million plus visitors to Las Vegas.
Sites are in a redevelopment area with-in the Las Vegas Convention Center neighborhood. The development sites are on the south side of Sierra Vista Drive across the street form the South Hall of the Las Vegas Convention Center between Paradise Road on the west and Swenson Street on the east.
With-In walking distance of major venues, Las Vegas Convention Center and robust transit services that include bus stops, Las Vegas Mono Rail and Convention Center People Mover
Strategically Located
The Development Sites are with-in walking distance of significant venues like the Las Vegas Convention Center, Mono Rail and University of Nevada and short commutes via public transportation to others like McCarran international airport, the new Raiders Stadium and Las Vegas Strip
New under construction projects like Resorts World and Drew on the Las Vegas Strip are also in the Las Vegas Convention Center neighborhood.
The new under construction Las Vegas Convention Center People Mover Station is a 5-10-minute walk to the Swenson Street station.
The sites are ideally located to take advantage of the 1.5 billion Las Vegas Convention Center Expansion, new Raiders Stadium, close proximity of the University of Nevada and additional tourist venues like Resorts World and Drew.
Each new venue in the Convention Center neighborhood will add significant full time jobs as wells as construction jobs.
Location can demand higher rents for residential, retail and office space making any project in the Convention Center neighborhood a sound investment.
Las Vegas Convention Center Expansion
Take advantage of the Las Vegas Convention Center 1.5 Billion Expansion
- 7,500 new Permanent jobs
- Over 6.5 Million Attendees Last year with projected yearly increaces
- $810 Million Annual incremental economic impact
- 600,000 additional Annual Attendees because of expansion
Zoning
The development sites have the potential for 100 residential units per acre plus retail, restaurants and offices in structures up to 200’ or 20 stories.
What is allowed is dependent on the underlying zoning H-1 and R-5, CT (Commercial Tourist designation) and MUD-2 or MUD-1 Multi Use Development overlay designation.
The offered development sites have a MUD-2 Designation but some parcels on Sierra Vista have a MUD-1 Designation
Zoning plus Overlay districts allows a mix of high density residential, retail, hotels and offices in buildings up to 20 stories. Based on the mix of use, incentives on residential density are available
Flexible Options
The development sites offer an ideal array of development options including resort hotel, multi-family, condominiums, retail, restaurants and offices. Multi-Use is encouraged and rewarded by existing codes.
Existing Infrastructure
The quality of infrastructure systems—including transportation, utilities, shopping, entertainment and telecommunications is a significant factor when selecting a development site for your next project.
It affects costs and time to market
In fact, it could be the most critical factor influencing your real estate investment and development decisions.
infrastructure supports the creation of communities that are healthier, more livable, economically prosperous, and environmentally sustainable.
The value of your project to your customers will depend on in place infrastructure
The Sierra Vista Development Sites have significant in place Infrastructure and significant planned additions to that infrastructure makes these Development Sites among the most desirable in Las Vegas
Current Activity
In addition to the 1.5 Billion Las Vegas Convention Center Expansion there are significant other current projects under construction, others in Plan Check and others in the planning phase. All these projects are in the Las Vegas Convention Center neighborhood. Projects on Sierra Vista between Paradise Road and Swenson Street (Sierra Vista Development Area) have started and are under construction.
These Significant developments along with their associated expansion of public infrastructure will bring significant benefits to any development within the Sierra Vista Development Area. These benefits will demand higher rents increasing the value of any development.
- Over 20,000 new permanent Jobs
- Millions of new high-income transient visitors
- Billions in Annual Incremental Economic Impact
- Substantial Growth in Public Infrastructure