Thursday, Dec. 8, 2005 | 8:31 a.m.
Aliante set the tone for upscale residential development in North Las Vegas. But as the city's newest master-planned community begins to take shape, city officials expect it to surpass its neighbor not only in quality but density.
The Olympia Group, developer of Southern Highlands, acquired 2,675 acres bordering both sides of Aliante for $639 million.
Since the Nov. 16 Bureau of Land Management auction, city officials have been meeting twice a week with Olympia representatives and plan to complete an agreement outlining the development in four months, Mike Majewski, city economic development director, said.
The developer has yet to outline detailed plans for the site, but officials said it will be primarily residential with a mixture of retail and office space. Olympia officials, who also want a casino, hope to break ground within 18 months.
"We aren't going to dictate land uses and what it looks like," Majewski said.
"This is going to be a partnership. The private sector is going to have hundreds of millions of dollars at risk, and they know the market the best. I think it will be like Aliante, but whether it looks like Aliante is anybody's guess.
"We told them that Aliante is the base that we are starting from. We are very proud of Aliante."
Given what Olympia paid for the land, Majewski said, there likely will be higher densities than Aliante's 3.41 units per acre. More than 3,400 home purchases have closed in Aliante's 1,905-acre master-planned community, where North Las Vegas projects 6,500 homes eventually will be built.
"It won't be Aliante. It will be distinct," Guy Inzalaco, a partner with Olympia, said. "But at the same time, we want to make sure it fits what was created out there."
Higher densities are the trend in the Las Vegas Valley as proposed in other residential developments. There likely will be a mixture of single-family homes, apartments and condos, but Majewski said it is up to Olympia to prove higher densities will work.
With higher densities, the developer will have to provide enough park sites and land for schools and government facilities to serve the community, Majewski said.
The upscale Aliante, built by a partnership that includes American Nevada Company, owned by the Greenspun family, which owns the Las Vegas Sun, is credited in part with helping North Las Vegas upgrade its overall image.
North Las Vegas Mayor Mike Montandon said he is excited about what the Olympia project will add to the community. The one objection he has so far is to a proposed casino, he said.
"I think we have enough casino-zoned land," Montandon said.
About 15 percent of Aliante is planned to be commercial, and Majewski said retail uses will be an important part of the Olympia project.
"We want a community that is true community, not one only ruled by the car," Majewski said. "We don't want people to have to drive five miles for a bottle of milk or a loaf of bread."
Brian Wargo can be reached at 259-4011 or at [email protected].
archive
