Pacific Group, a commercial and residential real estate development firm, and the City of North Las Vegas announced the approval of a development agreement for a medical destination campus for mixed commercial use, including healthcare, research, and business facilities on the 135-acre Job Creation Zone located at Pecos and 215 across from the VA Hospital in City of North Las Vegas.
Over the next 5-10 years, the project is anticipated to include over 700 medical facilities beds, more than 2 million square feet of medical office and technology research space, over 250 hotel rooms, multiple restaurants, and 500,000 square feet of retail space, representing an overall investment of up to $5 billion.
Pacific and the City executed a purchase agreement on March 3, 2022 and a development agreement was approved by the City Counsel on Wednesday. With City Council approval, Pacific intends to begin preliminary development immediately.
“After working extensively with our Federal Delegation to establish a Job Creation Zone as part of the Public Land Act in 2014, we intended for this property to be used to develop world-class medical care and research facilities while bringing jobs of the future to our City, and this project is what we envisioned,” North Las Vegas Mayor John Lee said. “Pacific sees our vision, and this project is a game-changer that will cement North Las Vegas as a destination for quality medical care, research and development, and jobs.”