Thursday, Sept. 4, 2008 | midnight
CVS Pharmacy has expressed interest in a lot on the corner of Buchanan Boulevard and Nevada Way next to the shuttered Starview Motel and Fortune China restaurant, a move that could have those buildings coming down within a year of their purchase.
The City Council Aug. 26 approved a new appraisal of the triangular 0.19-acre spot next to the boatyard east of the motel and restaurant.
In November 2007, an appraisal found it worth $54,000, but CVS offered the city $85,000.
Dave Johnson a broker for NAI Horizon, CVS's commercial real estate firm, said CVS owns the boatyard next to the city's lot, and expects soon to purchase the motel, restaurant and associated land for CVS.
The drugstore plans to relocate to the site from its building across the street in the Vons Plaza, Johnson said, but he couldn't provide a timeline.
City Manager Vicki Mayes said the city won't sell its parcel to CVS until the company owns the motel and restaurant. The city negotiated as part of the sale that CVS would tear down the closed businesses, she said.
When the city and CVS discussed the sale last year, the company agreed to make improvements to the spot within five years of purchase, or the city would have the option of buying it back for the selling price, Mayes said.
Councilwoman Andrea Anderson said she looked forward to a renovation of the corner, which greets traffic from Lake Mead into town.
"It's such an eyesore," she said.
Councilman Mike Pacini asked if the company would be willing to landscape or otherwise beautify the spot until construction began, but Mayes said, based on her discussions with NAI Horizon and CVS, that wouldn't be possible.
"We've got our main corner," Pacini said, "and two of our lots look awful, just awful." Another corner at Buchanan Boulevard and Nevada Way holds a shuttered gas station.
Mayes said the city has already leveraged with the company to get more money and demolish the building.
She said a chain link fence and a dirt lot was probably what the city could expect to see.
Cassie Tomlin is a reporter for the Home News. She can be reached at 948-2073 or [email protected].
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