Newspaper gets help with land

Tuesday, Aug. 12, 1997 | 8:56 a.m.

The Las Vegas Redevelopment Agency is assisting the publisher of El Mundo in buying 1.85 acres on the corner of Eastern Avenue and Harris Street.

Eddie Escobedo, whose Spanish language newspaper has a circulation of 24,000 in Las Vegas, is planning to build a $1.6 million office plaza on the property. Escobedo will serve as landlord for the five-building, one-story complex.

The total cost of the property is $300,000. Escobedo will finance $100,000 himself. Another $100,000 will be provided as a grant from the redevelopment agency, and the remaining third will be provided from the city's federal block grant loan program.

Tenants of the office plaza so far include Elite Realty, Hermansen Chiropractic Center, Dr. Tomas Sazani, attorneys Michael Lauband and Eric Woods, Renie & Raymond Inc., and El Mundo.

"This is a really nice project," said Councilman Gary Reese, who represents the neighborhood. "It's necessary to improve the area."

The project is expected to be finished in six months.

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