Millennium Arena site bought for $1.2 million

Diana Sahagun

Tuesday, July 25, 2000 | 10:32 a.m.

Land speculator Unlimited Holdings Inc. has purchased the largest piece of vacant property in the North Las Vegas redevelopment area for $1.2 million, home of the former Millennium Arena site.

Company representatives said they're looking into the possibility of finding a developer to resurrect an indoor sports arena on the 12.4 acre site, although there are no formal plans for the parcel.

Since 1997, sports and circus aficionados have been hoping that the Millennium Arena, with promises of a 60,000-square-foot hall and a 160-seat country-style restaurant, would become a reality. Millennium also had a contract with Zelzah Shrine Temple to hold the annual Shriners Circus at the arena for 10 years.

But Millennium Arena Inc. went bankrupt this month and the land went up for sale.

The parcel is in the city's northern redevelopment area, the area encompassed by Las Vegas Boulevard from Carey Avenue to Pecos Road and Cheyenne Avenue from Civic Center Drive to Van der Meer Street.

Kirk Bortelho, operation director for Unlimited Holdings, said escrow closed on the property last week and the company has already set up meetings with the city's redevelopment staff.

"We've been in contact with the city, seeing if there is any viable interest from the city of still pursing an indoor sports arena, although the investment is fairly substantial," he said.

Bortelho said the firm, which buys and sells land throughout the Las Vegas Valley, scooped up the parcel because it came at a good price and is at a prime location, at the corner of Van Der Mer Street and Las Vegas Boulevard, near Pecos Road. The property is zoned commercial.

Nearby is a new Walgreen's and McDonald's, as well as numerous shopping centers.

Redevelopment Manager Kenny Young said the property is important because it is the largest undeveloped parcel in the redevelopment area, and a new business is the key to help eliminate blight.

"No one likes to see vacant, abandoned property," he said. "The emphasis is to redevelop those sites."

Part of the challenge when working with private companies and developers is to attract the kind of development that the city wants at the site. With private companies, the redevelopment agency does not have much control over what goes in, Young said.

"For any property in the redevelopment area, it is always hard to get outside investors to put in the needed retail and commercial projects," he said.

Both Young and Bortelho said it's too early to tell when a project will go up on the site but will continue meeting together. Eventually, a developer will submit formal plans to the Planning Commission for approval.

"We don't build buildings, although we do try to determine the best use in conformity and relation to what the city would like to see there," Bortelho said. "We'd like to see it developed because the area is showing strong growth and is certainly would help to improve the area to have new construction there."