North Las Vegas Rings Up New Retail Center

The massive Deer Springs Town Center will offer residents up to 700,000 sq ft of retail space, and is aiming for LEED silver.

Deer Springs Town Center Breaks Ground

Regency Centers, a national owner, operator and developer of grocery-anchored and community shopping centers, began construction of Deer Springs Town Center shopping center, located at North 5th Street and 215 Beltway in North Las Vegas.

Deer Springs Town Center will feature approximately 700,000 sq ft of upscale retailers, banks and restaurants. The development will feature town center aesthetics including pedestrian friendly crosswalks, large sidewalks, distinctive architectural storefronts, tree-lined boulevards, large outdoor gathering areas and a city adopted Regional Trail.

Regency anticipates a broad mix of retailers to offer service and convenience to residents of North Las Vegas. Deer Springs Town Center will open in mid March 2009 with anchors including a 132,360-sq-ft Target, a 106,278-sq-ft Home Depot, a 65,000-sq-ft Babies R Us, and junior anchors such as PetSmart, Ross and Staples.

The developer’s plans include registering the project for LEED silver certification. Sustainable construction elements will be incorporated into site development, the structure, envelope and building-level systems, as well as elements like heating, ventilation and air-conditioning.

Regency Centers hopes to market the building as a high performance sustainable design with a higher level of efficiency. Perkowitz+Ruth Architects are the architect of record for the project.

Korte Begins Nevada Cancer Institute Support Building

The Nevada Cancer Institute in partnership with American Nevada Corporation has selected The Korte Company to design and build their new administrative offices and accompanying parking garage. The completely finished building will be approximately 102,000 sq ft on three floors with a five-story parking garage. The total project valued at $31 million is located at the 215 Beltway and Town Center Drive in Summerlin and will take one year to build.

City Council Approves World Jewelry Center

The Las Vegas City Council has approved the World Jewelry Center's Site Development Plan and Special Use Permit, thus giving the developer, Probity International Corp., all the entitlements necessary to proceed with the project. The project's Site Development Plan had been previously approved by the City of Las Vegas Planning Commission and the Union Park Design Review Committee. In early January, the city had also approved the WJC's Disposition and Development Agreement, Owner Participation Agreement, and the related documents.

The World Jewelry Center will be a prominent part of the master-planned community of Union Park, a 61-acre mixed-use urban development project, at the crossroads of two major freeways Interstate 15 and U.S. 95. Other key projects in Union Park include the Lou Ruvo Brain Institute, designed by Frank Gehry; the $450 million Smith Center for the Performing Arts; and Symphony Park, an outdoor park next to The Smith Center.

Designed by Altoon & Porter Architects, the WJC will be one of the tallest buildings in Las Vegas. Hundreds of participating firms will be taking space in the state-of-the-art office tower, designed as an international hub for gem-and-jewelry manufacturers, wholesalers, designers and retailers.

The top ten floors of the tower will be dedicated to ultra-luxury residential condominiums. With fewer than 100 residences, the exclusive condominiums will provide amenities such as room service, housekeeping and concierge services. The residential condominiums are designed by Dianna Wong Architecture & Interior Design, Inc.

Moulin Rouge Development Corporation Submits Plans for Development

The Moulin Rouge Development Corp. and Republic Urban Properties LLC submitted their plans to the City of Las Vegas to redevelop the historic Moulin Rouge Hotel and Casino.

Located on Bonanza Road and I-15, the first phase of the multi-phase development includes 700 new hotel rooms, four restaurants, convention and meeting rooms, as well as a pool-side night club, concert venue, jazz center and over 50,000 sq ft of retail and spa facilities.

Moulin Rouge first opened in 1955 as a showplace for African-American performers including Sammy Davis Jr., and Nat King Cole. The redevelopment will preserve the historic neon sign and tower of the original hotel, and house a Museum & Cultural Center displaying the history of the property.

The MRDC-RUP team has submitted applications, supporting drawings and documentation to the city asking them to review the proposed Moulin Rouge site plan which includes rezoning parcels for retail and restaurant uses.

New Venture with the Development of Post Park

PAR Development Inc., a new firm started by a former division manager of Panattoni Development, is developing Post Park. The $31 million, 10-acre industrial project is located in southwest Las Vegas, on the northwest corner of West Post Road and Buffalo Drive. It will feature four free-standing industrial buildings, totaling 175,000 sq ft. The project will boast I-215 visibility along with dock and grade level loading and Early Suppression, Fast Response (ESFR) fire protection. The project is slated to break ground second quarter of 2008 with completion scheduled for fourth quarter.

Silver State Bank has provided financing for the project and Panattoni Construction has been selected as the general contractor. Doherty Industrial Group of Colliers International is the sales team representing the project and Tectonics Design Group has been named the architect of record.

Pinnacle High-Rise Canceled, Deposits Returned

Pinnacle Las Vegas has called it quits. The proposed $740 million condo-hotel project at Tropicana and Cameron avenues, across from The Orleans, has pulled the plug after three years. The development entity, Pinnacle Las Vegas LLC, confirmed that 396 homebuyer deposits are being returned with interest from Nevada Title Co. Deposits were 10% of the unit purchases with prices ranging from the $300,000s to over $1 million.

"The market conditions have changed dramatically from when we first started the project," says Norman Fornella, a Pinnacle Las Vegas development partner. "It no longer makes sense to build in the current climate."

Pinnacle Las Vegas was first announced in 2005. Plans called for 1,100 condo-hotel units housed in two 36-story, faceted gold glass towers connected by three sky bridges.

But the developer has changed contractors three times in three years. Dick Pacific Construction, a unit of Pittsburgh-based Dick Corp., replaced Marnell Corrao Associates as builder in mid-2007. Both builders were preceded by Turner Construction Co.

Dick Pacific, who came aboard last summer, is also a project partner. "The market has taken a very drastic turn," says Fornella who serves as executive vice president of Dick Pacific Construction. "It's made it financially difficult to attain sufficient sales to obtain the construction financing necessary."

Pinnacle Las Vegas LLC has since hired CB Richard Ellis' John Knott to market the 12-acre property. The land formerly served as an automotive sales site until October 2004. The Falconi Group, the project's principal developer, is best known in Las Vegas for operating Acura and Honda car dealerships throughout the valley.

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