Las Vegas Sun

October 24, 2014

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Developer to help NLV acquire land

The North Las Vegas City Council has unanimously approved a joint cooperative agreement with North Las Vegas Associates to assist the city in obtaining 7,500 acres on its northernmost boundaries under the Federal Land Exchange program.

The terms of the 18-month contract give North Las Vegas Associates the ability to acquire certain parcels of real property located in Nevada and exchange them for 7,500 acres of Bureau of Land Management land on behalf of the city.

The development company has at least $40 million worth of land held in escrow and is currently negotiating for more. The costs associated with making the BLM application and conducting feasibility studies will be borne by North Las Vegas Associates.

"This is the first phase in a multi-step process," said North Las Vegas Deputy City Manager Patrick Importuna. "We've taken the initiative to come up with an agreement, but it doesn't guarantee either an approval from the BLM or a guarantee to the North Las Vegas Associates."

North Las Vegas Associates will design a master plan for the property extending from Centennial Parkway and Grand Teton to Decatur and Nellis boulevards in partnership with North Las Vegas.

The overall master plan of mixed-use zoning will include light industrial, office and research parks, a regional mall, resorts and upscale residential neighborhoods.

Prompted by beltway plans and the community's growth, Mayor Mike Montandon expressed satisfaction at concluding a decade-long search for a qualified developer. North Las Vegas Associates is a consortium of local developers including the Olympic Group, the Developers of Nevada, and JDB Co.

Principals in two of these companies include a former Las Vegas city manager and former Clark County commissioner. This initial contract will include the evaluation and analysis of certain issues including hydrology, traffic impact, infrastructure and space preservation.

While other developers have endeavored to partner with the city, the council ultimately decided on North Las Vegas Associates because of its experience in negotiating with the federal government and developing such successful master plans including The Lakes, Spanish Oaks and the forthcoming Eastern Beltway Commercial Center.

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