Editorial: Selling off history

Wednesday, Oct. 5, 2005 | 7:39 a.m.

The request by the historic Huntridge Theatre's owner to repay state historic preservation grants in exchange for being allowed to do whatever he wants with the landmark is an unprecedented one.

People who own historic properties typically don't do that. National and state historic designations are tough to acquire, and the 61-year-old Huntridge has both. But the land it sits on could be worth a fortune if Hayim Mizrachi were allowed to do what he wants with the beloved but ramshackle facility that has been closed since last year.

Since its opening on Oct. 10, 1944, the Huntridge served first as a movie theater and later as a concert venue for everything from community group performances to alternative bands. More recently, it provided a set for an MTV show featuring the Beastie Boys. It has undergone repeated face lifts and renovations, but its facade retains much of the character it had back in the days when the surrounding neighborhood was among Las Vegas' most vibrant.

Starting in the early 1990s and ending in 2001, the Nevada Cultural Affairs Department awarded eight historic restoration grants ranging from $56,000 to $420,000 to a private nonprofit group that owned the theater. Mizrachi bought it from them in 2002 for $925,000 -- a bargain-basement price before Las Vegas' real estate boom. The restrictions of historic designation, which prevent demolition or alteration of the property and require it be used only as a performing arts center, helped keep the price down.

Mizrachi obtained a $1.5 million state grant last year for renovations but now wants to return that amount in exchange for overturning the historic status. If successful in this, he still could make out financially, as the property is more valuable without the restrictions.

And that is the problem. Aside from the disturbing precedent of overturning hard-won historic status in a city that implodes its history with fanfare, allowing property owners to buy their way out of carefully considered restrictions sets in motion an even more disturbing trend.

Historic designations and other property restrictions often are set after huge investments of the public's time, expertise and money. They shouldn't be for sale simply because the opportunity arises to make more money without the restrictions.