Luxury Development Opportunity Available In Downtown Las Vegas
Marked by two iconic anchors — a $550 million performing arts center campus and an $82.5 million private medical and research facility — Symphony Park in downtown Las Vegas is the city’s premier development opportunity. Only a few parcels totaling approximately 16.50 acres remain on this upscale site — perfect for high-end residential, office or mixed-use development.
“Downtown Las Vegas is the place where the city got its start more than 100 years ago,” said Las Vegas Mayor Carolyn G. Goodman. “A thriving mecca of hospitality downtown is also a hotbed of business activity and development. There has never been a better or more exciting time to bring to fruition new and exciting development in the heart of Las Vegas, and particularly at Symphony Park, home to landmark facilities that have forever changed the downtown skyline and enriched the downtown experience.”
This 61-acre infill parcel in the heart of the city first came to life in 2009 with the opening of the Cleveland Clinic Lou Ruvo Center for Brain Health and the 2012 opening of The Smith Center for the Performing Arts. Considered game-changing facilities for Southern Nevada’s resident population of more than two million, The Smith Center and Cleveland Clinic significantly elevated both the region’s cultural and medical communities, simultaneously putting Symphony Park on the map in a big way. To date, The Smith Center has sold more than two million tickets to hundreds of Broadway touring productions, concerts and performances, while Cleveland Clinic Lou Ruvo Center for Brain Health has treated more than 108,000 patients and conducted more than 65 clinical trials. Adding to Symphony Park vibrancy is the DISCOVERY Children’s Museum, which has greeted more than one million patrons since opening in 2013 and the Las Vegas Metro Chamber of Commerce now housed on The Smith Center campus.
Symphony Park is surrounded by the valley’s second largest employment center comprised of multiple downtown hotel-casinos; major entertainment attractions and museums that make up downtown’s vibrant tourist economy; Las Vegas Premium Outlets North, one of the country’s most successful outlet shopping malls; World Market Center Las Vegas, a five million-square-foot showcase for the home and hospitality contract furnishings industry; headquarters of Zappos.com; federal courthouses and multiple legal offices; office towers and more. The city plans to build two parking garages on the site that will add more than 1,000 parking spaces for surrounding development. The city has also provided matching monies for initial fundraising efforts for a modern art museum at Symphony Park.
Downtown redevelopment has been a focus of the city of Las Vegas Economic and Urban Development Department for decades with significant revitalization occurring in the last five years and the 2016 completion of a Downtown Master Plan that sets the course for area development for the next 30 years. Recent downtown development highlights include the expansion of the Las Vegas Medical District (LVMD) where the new UNLV School of Medicine welcomed its first class in July 2017 and the establishment of an Innovation District to encourage the development of technology solutions. Symphony Park is part of both Districts. Other recent developments include the completion of a new $50+ million Federal Justice Tower; the opening of a new Nevada Supreme Court building; the opening of a 72,000-square-foot, entertainment complex offering eight luxury movie theaters, an ultra-lounge and two restaurants; and ongoing retail and residential development in the area.
For more information about Symphony Park development opportunities, visit symphonypark.com, call 702–229–6551 or email EDinfo@lasvegasnevada.gov
