Downtown Las Vegas Reports More Than $1 Billion in Developments
Downtown Las Vegas has reported that at least $754 million in public and private projects came to fruition in 2012, and an additional $355 million in developments were under construction, with most of these scheduled to be completed in 2013, ,according to the Las Vegas Economic and Urban Development Department. In 2012, downtown Las Vegas became home to a $485 million performing arts center, a new city hall, two major museums and scores of new businesses. A total of 57 projects were completed, under construction or upgraded there during the year.
This year, development highlights include Zappos.com's $40 million renovations to the former Las Vegas City Hall, the $56 million Discovery Children's Museum scheduled to open this spring, the former Lady Luck Hotel & Casino's $100 million renovation and reopening as the Downtown Grand Hotel & Casino in late 2013, and a former Travelodge repurposed into a temporary housing and resource facility for veterans. In addition, Zappos CEO Tony Hsieh is investing $350 million of his personal wealth in the downtown area for venture capital and entrepreneurial assistance for startup companies as well as community improvements.
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