Yesterday, Agora Realty and Management announced the closing of escrow on 19 acres in Downtown North Las Vegas for a mixed-use, master-planned development, which will include medical offices, retail shops, restaurants, multifamily housing, micro-businesses units, and community-focused public space.
Based on initial planning, the new development will create more than 900 permanent jobs. Construction could begin as early as first quarter 2023 with completion set for mid-to-late 2024. SCA Architects has been tapped to do construction drawings, and Mycotoo will be working on design and programming for the micro-businesses and public space.
As part of the North Las Vegas City Council’s strategic vision to create a more vibrant, livable downtown district, the new project will bring much needed healthcare and medical services along with new restaurants and shops and micro-businesses units for start-ups and local entrepreneurs.
Since 2020, North Las Vegas ranks fifth on the list of cities with the greatest population increase in the United States, and over the last decade, the City’s population has grown by nearly 25 percent.
“This project will create another exciting destination in North Las Vegas for residents and visitors, bringing almost 1,000 new jobs into the City and new services and amenities to folks. This is something the City Council and I have worked toward for the past eight years and created the right environment and processes so that could happen,” North Las Vegas Mayor John Lee said. “Agora has already made a tremendous impact in our downtown area, and we look forward to working with them on this next project to continue to bring our vision to reality.”
Agora has been investing in North Las Vegas for the past six years, beginning with the redevelopment of Fiesta Plaza, a 200,000-square-foot grocery-anchored shopping center located on approximately 23 acres in the city’s downtown area. Agora Realty acquired Fiesta Plaza in mid-2016 with only 55 percent of the available retail space occupied and no anchor stores. Since that time, the firm has fully leased the center, expanding La Bonita Supermarket as well as adding Conn’s, Ross Dress for Less, Ace Hardware, U.S. Bank, Denny’s, Shoe Palace and other local and national tenants.
All told, Agora’s portfolio has more than 550,000 square feet of retail space in North Las Vegas and the greater Las Vegas market with five new, ground-up developments in various phases of development totaling over 208,000 square feet.