Sale of city land OK’d for condo project

Sito Negron

Thursday, Oct. 21, 2004 | 9:24 a.m.

The Las Vegas City Council on Wednesday approved the sale of city land for a uniquely designed condominium project that would encompass most of a downtown block.

The project's buildings would be different heights, and its parking garage would be topped by a garden and swimming pool.

The block, which occupies the southeast corner of Third and Bonneville, is largely owned by the city. A small portion of the block's southeast corner is occupied by Moran & Associates, a law firm owned by John Moran that a year ago was given a tiny sliver of alleyway by the city.

The project is by the San Diego-based CityMark Development, which will buy the land from the city for $5.2 million, the appraised value of the 2.4-acre lot, according the city backup documents.

"This is a big big deal," Mayor Oscar Goodman said.

He praised the "distinctive and striking" architectural features and the price range, which he called reasonable and within range of typical wage-earners like teachers and nurses.

"This does absolutely fill a niche that is critical to the success of downtown," Goodman said.

The documents put the cost of the units in the low $200,000 range for studios to the $400,000 range for two-bedroom, two-bath units. Larger suites and penthouses also will be available.

The project will have 330 units, 530 parking spaces, and 13 live-work units, said CityMark president Rich Gustafson.

The schedule calls for construction to begin in 2006 and the first phase of 220 units to be completed by 2008.

The project will have six buildings ranging in height from seven to 14 stories.

The height differentials and changes in facade from building to building are key to the project, Gustafson said.

"If it was one architectural scheme, it would be massive," he said. "This breaks it down to a more human scale."

Councilwoman Janet Moncrief, who represents the area where the project will go, said she visited other projects by the company in its hometown of San Diego. In making the motion to approve the deal, she said, "I'm tickled to death this is in Ward 1."

While the vote to approve the deal with CityMark was unanimous, Councilman Steve Wolfson did express concerns about one issue -- parking downtown.

He mentioned the number of high-rise projects announced and approved in recent months, and the pending completion of the Regional Justice Center, as factors that will boost downtown visitors.