Development off to sluggish start

Erin Neff

Friday, April 14, 2000 | 11:02 a.m.

Developers of the Campaige Place housing complex downtown said they are committed to other projects in Las Vegas despite the initial slow leasing at their flagship venture.

The San Diego-based Tom Hom Group purchased this week more property at Las Vegas Boulevard and Hoover Avenue earmarked for the company's third housing project here.

"We're completely happy with how things are going," said Will Newbern, president of the Tom Hom Group.

But the 320-unit Campaige Place, on Stewart Avenue between Eighth and Ninth streets, has thus far been a slow sell downtown.

The city celebrated the grand opening of the single-room efficiencies March 20. Since then, 17 people have moved in and 35 others are awaiting completion of employment and reference checks.

Mayor Oscar Goodman said this week he was concerned about the slow start leasing the project designed to turn the downtown housing market around.

"There are challenges with Campaige Place," Goodman said. "Those kinds of bold, innovative projects have to succeed.

"If it doesn't, then it's going to be a long time to establish housing downtown," he added.

City officials said they didn't consider leasing to be slow given that Campaige Place only received its certificate of occupancy permit March 31 for half of the complex and is expected to receive its remaining permits this week.

"The Tom Hom Group is working very diligently," said Addah Moritz-Smith, a management analyst in the city's Neighborhood Services department. "They're on top of it."

Newbern said 40 prospective tenants came to Campaige Place last Saturday.

"It's a far better start than we've had in other projects," Newbern said.

The Tom Hom Group has two single-room occupancy (SRO) projects in San Diego, the Peachtree Inn and Trolley Court, and is developing an SRO in downtown Phoenix's warehouse district.

When Campaige Place was first proposed some residents who opposed the project worried it would be hard to lease because it had higher rental rates than other downtown apartments, and had a lack of services nearby.

In San Diego, the SROs rent for less than $300 a month, while rent starts at $495 at Campaige Place.

Both downtown San Diego SROs are located adjacent to high-density housing, stores and services. Campaige Place is near single-family homes and apartments, with the closest market in a gas station five blocks away.

Tom Hom's other proposed housing projects in Las Vegas will come with their own commercial elements.

A $6-million, 50-unit mixed residential and retail project is planned at Las Vegas Boulevard and Gass Avenue. The project will have apartments and lofts above ground-floor businesses.

The newest proposal, which still has to come before the city for approval, would be a mixed-use complex of straight commercial with live/work lofts.

The live/work concept, approved by the council in January, allows for development of artists' lofts, courtyard condominiums and townhouses in commercial zoning districts in the city's redevelopment area.