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Las Vegas announces biggest economic, urban development achievements of 2018

The City of Las Vegas announces its five biggest economic and urban development accomplishments. [Bill Hughes/Las Vegas News Bureau]

The City of Las Vegas released Wednesday, Dec. 26, its five biggest accomplishments in the areas of economy and urban development.

These areas include projects to attract new business or to help local businesses in the valley as well as plans and construction aiming to develop real estate in areas that need it most.

According to the City of Las Vegas website, the biggest accomplishments in these areas for 2018 are as follows:

New residential and retail development near downtown

The new Symphony Park Development includes two residential projects that were approved with construction scheduled to begin in early 2019. The development is located near The Smith Center and will have easy access to U.S. 95 and I-15. It will bring 600 rental units and 25,000 square-feet of retail space. Also, 700 structured parking spaces will be added downtown along with two addition multi-level parking garages with 1,250 spaces. The real estate project will offer urban grocery store and signature restaurant opportunities.

World Market Center expanding for new business

The monolith-like building located just southeast of the Spaghetti Bowl is expanding. The World Market Center will be building a facility for large-scale tradeshows, events and conventions. Contruction is slated to begin in 2019 and take roughly 18 months to finish.

$1 million in incentives for local businesses

In an effort to incentivize the valley’s business owners and developers, over $1 million was put toward projects in the Las Vegas redevelopment area. This redevelopment area is located in the area of Martin Luther King Boulevard and Charleston Boulevard. This area includes the Symphony Park Development mentioned above.

$55 million in New Markets Tax Credits

The City of Las Vegas was given $55 million in additional New Markets Tax Credits from the federal government. This has made possible the revitalization of building like the new State Supreme Court Building, located at 408 E. Clark Avenue, as well as the renovation of the Historic Westside School, located at 330 W. Washington Avenue. Other projects include the Visions of Greatness Center and the East Las Vegas Library.

Establishment of the Innovation District

The City of Las Vegas has worked to make investments in improving mobility and safety as well as providing reliable transportation choices. This, among other things, has led to the newly established Innovation District, which supports smart city technologies. In 2018, Las Vegas partnered with Nippon Telegraph and Telephone and Dell Technologies to further develop ways technology and analytics can help improve the public’s safety.


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