City close to getting prime parcel

Erin Neff

Friday, Sept. 8, 2000 | 11:25 a.m.

The city of Las Vegas could have its hands on prime real estate downtown within two weeks.

But don't expect any rush to move in.

Mayor Oscar Goodman said Thursday that the city must treat the 61.5-acre undeveloped parcel with extreme care to avoid willy nilly proposals.

"It is a once in a lifetime chance, and we better not blow it," Goodman said.

The city and Lehman Brothers Holdings Inc. have a temporary land swap agreement in which the city gives up 97 acres in its northwest Technology Park plus $2 million in cash in exchange for Lehman's prime parcel near the Spaghetti Bowl.

Goodman said he expects the deal to be finalized in the next two weeks, clearing the way for sincere discussions on what to put there.

A larger parcel next to the Lehman site, which is owned by Union Pacific Railroad, is also being eyed for a number of projects, including plans nearing finalization for a high-tech campus with a dot-com incubator.

The city began preliminary talks with Union Pacific this week to inquire about a possible land swap with the railroad to obtain land for a performing arts center. However, those talks have just begun and were deemed "very preliminary" in nature by Goodman.

His office has already been flooded with proposals for everything from a Major League Soccer stadium to casinos and movie studios.

On Thursday afternoon, Goodman heard a proposal from commercial developers who have had successful projects at River Walk in Garden Grove, Calif.

Before the mayor signs off on any other water-themed attraction, he will ask the nation's foremost planning experts for their opinion on what to do with the property.

The city is working to set up a multi-day symposium on how to development the parcel with experts from the nonprofit Urban Land Institute.

Dan Van Epp, president of the Howard Hughes Corp., told Goodman he could arrange for such a workshop here in Las Vegas. Van Epp has also accompanied Goodman on tours of successful East Coast redevelopment projects.

Goodman said he expects the Urban Land Institute workshop to be held within the next eight weeks.