Developer plans downtown project

Tuesday, Sept. 23, 2003 | 11:06 a.m.

Mark L. Fine & Associates plans to build a 100,000-square-foot building offering retail, restaurant and office space on 4.5 acres at the southwest corner of Bonneville Avenue and Grand Central Parkway near the Las Vegas Premium Outlets mall.

Mark Fine, president of the company, said he plans to look into potential city incentives such as tax increment financing (TIF) for the project.

"We know TIF financing is available, but we don't know if we qualify," Fine said.

The adjacent Las Vegas Premium Outlets receives tax incentives and the proposed $1 billion World Market Center, to be built on the northeast corner of Bonneville and Grand Central Parkway, is also eligible to receive tax incentives.

Fine said he has been in discussions with potential tenants but has no tenant announcements for the building.

Fine said he purchased the land from Chelsea Property Group, which along with Simon Property Group developed the adjacent outlet mall.

Fine expects to break ground on the building, which will include a separate parking structure, during late spring 2004 with the building to open in spring 2005. Total costs for the project will be between $25 and $30 million, Fine said.