City committee to court developers for downtown

Erin Neff

Thursday, April 8, 1999 | 10:28 a.m.

In the wake of a failed office tower project downtown, the city has formed a committee to court new developers for the vacant piece of prime real estate at Fourth and Lewis streets.

The City Centre Development Corp., the private sector arm of the city's Redevelopment Agency, appointed a subcommittee Wednesday to develop a strategy for the site.

Last month the planned $57 million Sun Plaza project fell through when developers American Nevada Corp. and Nevada State Bank asked the city for more money for the project.

The city, which had already committed $6.4 million for the land and another $750,000 to ready it for construction, refused to invest any more in the project.

American Nevada Corp. and the Las Vegas Sun are both owned by the Greenspun family.

Jodi Goodheart, chair of the City Centre board, will serve on the subcommittee with board members Ken Templeton and Nick Niarchos.

The city turned the Fourth and Lewis site over to City Centre to try to search for alternative developments.

Mike Forche, City Centre president, said he has already received numerous requests from both local and out-of-state developers inquiring about the property.

The subcommittee will examine whether to put the project out for bid or simply accept proposals.

Jeff Maresh, director of the city's Office of Business Development, said the property -- owned by the Redevelopment Agency -- is ready for construction, fenced and insured.

"It's the best piece of ground downtown," Maresh said.

Sun Plaza was envisioned as an important component to downtown redevelopment efforts, which include the $96 million federal courthouse and the $99 million Neonopolis entertainment center, both under construction, and an $84 million regional justice center.