SEPTEMBER 13 2022 / ISSUE NO. 41 / ARCHIVE
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This Week's Top Stories
City of North Las Vegas, Agora Realty Break Ground on Medical and Mixed-Use Development
Last week, the City of North Las Vegas and Agora Realty & Management, a real estate development firm, broke ground on Phase One of NLV Gateway, a medical and mixed-use redevelopment project in Downtown North Las Vegas.
Phase One of the project is a 22,000 square foot, $10 million medical services office building that will include primary care and specialities such as radiology. This building is expected to create 100 new jobs, and completion of Phase One is anticipated in Summer 2023.
Legends Bay Casino Opens, First New Casino in Over 20 Years in Northern Nevada
On August 30th, Legends Bay Casino opened its doors in and became the first new casino in northern Nevada in over 20 years. The opening celebration began with a ribbon-cutting ceremony hosted by Garry Goett, Chairman and CEO of Olympia Companies. The opening day also featured a ribbon cutting celebration of the new Circa Sports Sportsbook with Derek Stevens, CEO of Circa Sports.
Clark County Approves $120 Million for Affordable Housing Projects
Last week, the Clark County Board of Commissioners approved $119,999,500 community housing fund for the development and rehabilitation of affordable rental housing projects, totaling 3,106 units.
The “Welcome Home Community Housing Fund” was created in April 2022 for housing related programs including construction of multifamily rental projects, affordable homeownership, and county land. An application process was opened in May 2022 for the development and rehabilitation of multifamily rental units to serve Clark County households at up to 80% of the Area Median Income.
REIT Acquires North Las Vegas Shopping Center for $56 Million
Phillips Edison & Company, a real estate investment trust (REIT) with a nationwide portfolio of grocery-anchored shopping centers, has acquired the Crossroads Towne Center in North Las Vegas for $56 million, according to Clark County property record.
Commercial Real Estate
- U.S. SBA Awards $500,000 to Nevada for State Trade Expansion Program
- Governor Steve Sisolak Appoints State Infrastructure Bank’s First Executive Director
- Three Square Food Bank Announces Events During Hunger Action Month
- Nevada Affordable Housing Assistance Corporation Distributes $400K to Four Local Housing Counseling Associations
- Nevada Donor Network Announces Partnership with Taylor's Gift Foundation
- Las Vegas-Clark County Library District Receives Additional Funding to Expand Cell Phone Lending Initiative
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