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July 31, 2014

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Downtown casino owner pays $10 million for abandoned courthouse

Image

Sam Morris

This is the exterior of the old county court house Thursday, Aug. 22, 2013.

Updated Tuesday, Oct. 1, 2013 | 11:39 a.m.

Courthouse for Sale

A chair in a judge's chambers faces the window in the old county court house Thursday, Aug. 22, 2013. Launch slideshow »

A Las Vegas casino owner has snatched up 2.74 acres of prime downtown property for $10 million after winning a public auction today at the Clark County Commission meeting.

The D Las Vegas co-owner Derek Stevens submitted the only bid for the site of the former county courthouse at Third Street and Carson Avenue, which sits diagonally across the street from his casino.

Stevens said the site would give The D room to grow.

“The location is great. It gives us a few options,” he said. “You’re not going to find a whole lot of city blocks for sale in a vibrant area that’s growing.”

Stevens told the Sun he planned to demolish the courthouse but would not comment on any development plans for the property.

"I'm going to spend a couple months working on that," Stevens said. "I'm excited about it."

Stevens said he planned to close on the property by December.

Before the property can be redeveloped, the new owners will have to deal with the seven-story courthouse.

The building was vacated in 2005 and has severely deteriorated as the result of vandalism, theft and water damage.

An appraisal estimated that the razing the asbestos-riddled building would cost $3 million, leading the county to discount its minimum asking price to $10 million.

A third of the sale proceeds will go to Las Vegas under a previous agreement with the county.

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