Internet firm plans hi-tech campus for downtown LV

Diana Sahagun

Thursday, May 10, 2001 | 10:57 a.m.

A year-old company, 21st Century Financial Systems Inc., is planning to build a high-tech campus on 10 acres in downtown Las Vegas for a headquarters, according to a proposed agreement with the city.

The 10.38-acre site near the Clark County Government Center was once eyed by Cisco Systems Inc. and AT&T Corp. for a dot.com incubator -- a business park that encourages the development of Internet firms -- but those plans fell through earlier this year.

21st Century, near the Meadows Mall, is a business-to-business, Internet-based company that provides mortgage, banking and financial services. The headquarters would employ 500 people.

The land, owned by the Union Pacific Railroad, is at the northern end of a strip of projects that city officials hope will breathe new life into the downtown area.

Site plans for a furniture mart next door will soon be before the City Council, and the city is seeking development plans for a 61-acre parcel it owns to include an academic medical center, cultural arts center and high-density residential development.

21st Century plans to build 10-story, 20,000- to 28,000-square-foot headquarters that will include a retail and residential area.

In the proposed agreement, the city would buy the 10-acre parcel for $4.18 million, or $9.25 per square foot, and sell it to 21st Century for $4.97 million.

If the plan wins the endorsement of the city's Real Estate Committee on Monday, the council will discuss it Wednesday.

Las Vegas Mayor Oscar Goodman has set a goal of creating a downtown where businesses will locate and workers will be drawn to new, high-density residential areas nearby. Shopping and cultural activities will await them after the work shift ends.

Goodman has said it will only take one legitimate business to spark high-tech growth here, to help create a "Silicon Oasis" in Las Vegas.

"We've embraced the mayor's vision," Bill Dendiu, 21st Century's executive vice president of marketing, said. "We feel with our technology we can help spearhead all of the activity downtown, and that's exciting."

For the investments the company made when it opened in February 2000, the Nevada Commission on Economic Development awarded 21st Century a $290,000 abatement of sales, business and property taxes, $81,000 in additional tax deferrals and more than $48,000 in training funds.

Dendiu said the company, which opened with a dozen employees, has grown to 142. He said he expects to have 500 employees -- including executives, computer programmers, analysts and software developers -- by year's end.

The company has also been in discussions with other high-tech companies throughout the United States, which are interesting in sharing some of the space at the campus, Dendiu.

The sale will depend on several factors. The city has 30 days for soil testing and environmental review to determine site suitability for developer's plans and approval of the company's site plans. And the company must close escrow by June 15, according to the agreement.