The core function of redevelopment WWhhyhyy is to identify and serve as a catalyst for revitalization projects RRedevelopment?Redevelopment?edevelopment? in which the private sector otherwise would not be involved.

HHundredsundreds ooff ccommunitiesommunities tthroughouthroughout NNevadaevada aarere sstrugglingtruggling eeconomicallyconomically aandnd ssocially.ocially.

Communities with abandoned gas stations, dilapidated In your community, housing, or continually vandalized, vacant strip malls are all REDEVELOPMENT IS: examples of deteriorated areas. Revitalization of these areas ■ Affordable housing and does not just happen on its own. Without some catalyst, the homeownership opportunities private sector is reluctant to invest in them. That’s where ■ Revived business districts and redevelopment comes in. downtowns

■ Revitalization of rundown neighborhoods

■ Crime reduction

■ Improvements to streets, AAbboutboutout RRedevelopmentRedevelopmentedevelopment lighting, sewers and water lines ■ Clean-up of contaminated property Redevelopment is a process authorized under Nevada law that enables concerned communities to establish ■ Community centers redevelopment agencies that can identify deteriorated and ■ blighted areas in need of revitalization. Redevelopment agencies develop a plan and provide the initial funding ■ Libraries to launch revitalization of those areas. In doing so, ■ Fire and police stations redevelopment encourages and attracts private sector investment that otherwise wouldn’t occur. ■ Neighborhood beautification such as upgrading facades Redevelopment agencies focus their efforts in our land- and sidewalks scarred regions, remediated areas, and urban neighborhoods. BByy ppromotingromoting uurban-centeredrban-centered ggrowth,rowth, rredevelopmentedevelopment aactivitiesctivities helphelp preservepreserve thethe eenvironmentnvironment andand oopenpen space,space, reducereduce commutecommute ttimesimes aandnd iimprovemprove tthehe qualityquality ooff lifelife forfor NNevadaevada rresidents.esidents.

Redeveloping Nevada • Introduction 1 Downtown Coffee Co. after facade improvements, Downtown Las Vegas, NV. Photo by staff Important About Data and Redevelopment Agencies Case Studies...

Agencies are tasked with determining that the buildings, facilities, structures or other improvements are of benefit to the redevelopment area. In doing so, the Agency considers whether the proposed projects encourage the Redevelopment Works! creation of new business, create jobs for nearby residents, Here’s How: increase local revenues from desirable sources, increase 6633 CCommercialommercial FFaçadeaçade ImprovementsImprovements pedestrian activity, possess attributes that are unique as to quality and design, and demonstrate greater social or Total Project Cost: $38.2 million Private Investment: $29.5 million financial benefits to the community. Redevelopment Investment: $ 8.7 million

9922 HHousingousing RRehabilitationsehabilitations WWithoutithout tthehe iinitialnitial investmentinvestment Total Project Cost: $417 thousand ffromrom rredevelopmentedevelopment agencies,agencies, mmanyany Private Investment: $182 thousand iimportantmportant communitycommunity projectsprojects simplysimply Redevelopment Investment: $235 thousand wwouldould nnotot hhappen—leavingappen—leaving ccommunitiesommunities 2200 CCompletedompleted CCommercialommercial DDevelopmentsevelopments pplaguedlagued bbyy ddeterioration,eterioration, ccrime,rime, aandnd Total Project Cost: $1.3 billion ppooroor eeconomicconomic andand ssocialocial conditions.conditions. Private Investment: $1.1 billion Redevelopment Investment: $200 million Adding 5.1 million square feet and 31,115 jobs

6 OOfficeffice DDevelopmentsevelopments Total Project Cost: $36.5 million Private Investment: $30.8 million Redevelopment Investment: $ 5.7 million

7 MMixedixed UUsese DDevelopmentsevelopments Total Project Cost: $207.7 million Private Investment: $197.6 million Redevelopment Investment: $ 10.1 million

2 Thhere ere aarere 1188 sstatewidetatewide redevelopmentredevelopment Beautifi cation improvements within Carson City’s historic Telegraph Square. aareasreas rreportingeporting fromfrom 9 membermember agencies.agencies. TThehe ooldestldest rredevelopmentedevelopment aarearea inin NevadaNevada wwasas eestablishedstablished iinn 11978,978, wwhilehile ssomeome wwereere aadopteddopted aass recentlyrecently asas 2006.2006. TheThe averageaverage Investment dividends llifeife ooff NNevada’sevada’s rredevelopmentedevelopment aareasreas ttoo PAY OFF with... ddateate iiss 110.280.28 yyears.ears. BBuildinguilding betterbetter communities...communities... ■ Build and preserve community amenities ■ Help small businesses thrive by revitalizing downtowns ■ Clean up blight through beautification programs 4 AAffordableffordable HHousingousing PProjectsrojects Total Project Cost: $27.6 million PProvidingroviding mmuchuch nneededeeded hhousing...ousing... Private Investment: $24.3 million ■ Redevelopment has provided 247 affordable housing Redevelopment Investment: $ 3.3 million units in Nevada Adding 247 residential units ■ A total of 1,790 market-rate housing units have been added as a result of redevelopment 6 MMarket-Ratearket-Rate HousingHousing ProjectsProjects ■ When a jurisdiction population reaches 200,000, Total Project Cost: $941.4 million 18% of all redevelopment tax increment revenue is Private Investment: $885.7 million set aside specifically for affordable housing Redevelopment Investment: $ 55.7 million Adding 1,790 residential units CCreatingreating jjobsobs aandnd sstrongertronger eeconomies...conomies... ■ Redevelopment has created almost 32,000 Nevada jobs 8 CCommunityommunity FacilitiesFacilities ■ Redevelopment leverages low-cost financing Total Project Cost: $201.1 million laying the fiscal foundation needed to make projects eco- Private Investment: $ 15.1 million nomically feasible and attractive to the private sector Other Agency/Grant Invest.: $156.7 million ■ Redevelopment has proven both locally and nationally Redevelopment Investment: $ 29.3 million to be one of the most effective ways to expand business- es, create jobs, and upgrade insufficient or deteriorating 9 IInfrastructurenfrastructure ProjectsProjects infrastructure

Total Project Cost: $105.2 million RReflectingeflecting tthehe communities’communities’ needs...needs... Private Investment: $ 48.9 million Other Agency/Grant Invest.: $ 9.7 million ■ Redevelopment Agencies are in the best position to Redevelopment Investment: $ 46.6 million identify exactly what a community needs because they are locally-governed and accountable to their residents ■ Residents are involved in the redevelopment process GGRANDRAND TTOTALSOTALS – through public meetings and hearings TTotalotal PProjectroject Cost:Cost: $2.8$2.8 billionbillion ■ Agency staff meet with private investors on local P Privaterivate IInvestment:nvestment: $2.3$2.3 billionbillion projects to meet the community’s needs OtherOther Agency/GrantAgency/Grant Investment:Investment: $ $166.4166.4 millionmillion ...without it, RedevelopmentRedevelopment iimportantmportant pprojectsrojects Investment:Investment: $ $359.6359.6 millionmillion wwouldould NNOTOT ggetet ddone!one!

3 RRedevelopmentedevelopment SSuccessuccess SStoriestories

World Market Center Sierra Crest LAS VEGAS, NV Senior The World Market Center (WMC) is located at 495 S. Grand SPARKS, NV Central Pkwy. The first phase of this state-of-the-art home furnishings complex was completed in 2005. The phase one The Sierra Crest building is a 10-story venue comprised of 1.3 million square feet Senior Apartments and 230 showrooms. While not open to the public, the WMC represent the first attracts thousands of furniture buyers and retail sellers from transit-oriented leading facilities around the nation and globe. development in the City of Sparks. The The original WMC concept called for 7.5 million square feet, 72-unit affordable, valued at $1 billion and generating $9.3 million in annual senior housing property taxes. Due to its success, a total of 12 million square project built by feet is now planned. WMC owners and operators assert that, Prater Partners when fully built-out, the 12-million-square-foot campus will is located at the “be the largest, most comprehensive trade show complex in corner of Pyramid the world.” Way and Prater Sierra Crest Senior Apartments Way. It is situated Currently, the WMC sponsors semiannual furniture trade along a Regional shows attended by more than 100,000 national and international Transportation Commission bus route, which allows residents furniture buyers and representatives each year. The trade show access to area stores, restaurants and other services. The complex will ultimately open year-round after expanding their Sierra Crest Senior Apartments also has many necessities on- offerings into other related areas including lighting, decorative site including a beauty shop, computer lab, library, exercise and floral furnishings, plumbing, floor coverings and more. facilities and a game room.

Since it first opened its doors in July 2005, the WMC has had The land for the project was purchased by the Redevelopment a substantial economic impact on the area — an impact that Agency and leased to Prater Partners. The complex is expected to grow dramatically. More than 1,500 permanent, opened its doors in March 2005. full-time jobs are the result of the first two building phases. When all eight phases of the 12-million-square-foot complex FOR MORE INFORMATION: are completed in 2010, it is projected that WMC will generate www.ci.sparks.nv.us 35,000 direct and indirect jobs.

The WMC has also produced a number of public improvements by utilizing the city of Las Vegas Redevelopment Agency’s incentive program. These public improvements include installation of storm drainage, site lighting, fencing, sidewalks and retaining walls.

The center has also increased local demand for business (rather than leisure-oriented) hotels. It has also spurred purchases for nearby condominiums, fueled by the need to provide accommodations for traveling World Market CenterSM, Building A clients and company executives. comprises 1.3 million square feet of permanent showrooms for the world’s FOR MORE INFORMATION: leading furniture manufacturers. www.lvrda.org Photo is provided courtesy of World Market CenterSM, Las Vegas. World Market CenterSM, Master Plan Experiential World Market Center Rendering Rendering provided by courtesy of Jon (right) and Photo (left) Jerde Partnership, all rights reserved.

4 Redeveloping Nevada • Success Stories Redevelopment Success Stories

Truckee River Walk Whitewater RENO, NV Streetscape in Downtown Mesquite: CCOMMERCIALOMMERCIAL PPROJECTROJECT before (above) CCenturyentury RiversideRiverside 1212 TTheatreheatre The 2,200 seat, 12-screen, multi- & after (right) plex theater, which opened in 1999, is a state of the art example of the movie theater experience. Built along the beautiful Truckee River, the theater and adjacent shops and galleries are the centerpiece of the River Walk area and the Downtown Arts and Culture District. Located at the corner of West 1st and Sierra Mesquite & Sandhill Boulevards Streets, adjacent to the City’s Parking Gallery for convenient MESQUITE, NV parking, the new theater is enjoying great success. Mesquite Boulevard and Sandhill Boulevard Reconstruction. HHOUSINGOUSING Improvements for the project include, new road base, asphalt RRiversideiverside ArtistArtist LoftsLofts The historic Riverside Artist Lofts building paving, curb and gutter, decorative sidewalk in the Central sits at the very place where Reno began. It was built in 1927 and Business District, new median planters, turn lanes, and served for years as a hotel, then a hotel/casino. Today it is living new street lights. Street improvements run in the Mesquite and working space for 35 Reno artists, with an art gallery, coffee Boulevard right-of-way from the west end of Mesquite near the shop and jazz cafe on the first floor, including outside dining Casa Blanca Casino to Sandhill Boulevard, and in the Sandhill next to the river. A joint effort by the Reno Redevelopment Boulevard right-of-way from Mesquite Boulevard to the I-15 Agency, Artspace Projects, Inc. of Minneapolis, and the Sierra Interchange. Arts Foundation, the Riverside Artists Lofts is a stellar example This project goes hand-in-hand with the Urban Corridors of cooperation among the public, private and non-profit sectors (Mesquite & Sandhill Boulevards) Landscape beautification to improve the quality of life in our community. project. CCOMMUNITYOMMUNITY AAMENITIESMENITIES FOR MORE INFORMATION: TThehe WWhitewaterhitewater PParkark allows everyone to enjoy outdoor www.mesquitenv.com activity year-round, within walking distance of a city’s cultural amenities. It provides a constant flow of clean, fresh water through its 11 drop-pools. It is one-half mile long, with easy access for the public and spectators. There are whitewater activities available for a wide range of skill levels.

RRaymondaymond II.. SSmithmith TTruckeeruckee RiverRiver WalkWalk The Truckee River Walk was built in the early 1990’s to highlight the river that runs through the middle of downtown Reno. Dedicated to the founder of Harold’s Club, the River Walk provides a beautiful venue for special events in a relaxing atmosphere. The River Walk has seven water features and original sculptures of native Nevada wildlife. Truckee River Walk event (above) and at night (left). FOR MORE INFORMATION: Photo courtesy of the City www.ci.reno.nv.us of Reno

Redeveloping Nevada • Success Stories 5 RRedevelopmentedevelopment SSuccessuccess SStoriestories

Cheyenne Point Mixed-Use Redevelopment NORTH LAS VEGAS, NV HENDERSON, NV

Cheyenne Pointe, an 89,000 square foot neighborhood shopping Downtown center, located on a 9.3 acre site at the southeast corner of Henderson was Cheyenne Avenue and Civic Center Drive, is the first large- actually “born in scale commercial retail project within the North Las Vegas’ America’s defense” redevelopment area. The project, estimated to cost $21 million, ten years prior to and will be anchored by three main tenants, including a 30,000 its incorporation square-foot Mariana’s Supermarkets and a Starbucks. during World War II with the ■ This project is an excellent example of the creativity required building of the of both Montecito Companies (the Developer), the City and Basic Magnesium the Agency to make this project a reality. Before the shopping Plant. Once a hub center could be considered, the City had to agree to trade for business and a fire station for a new police facility, and the Agency had industry, down- to agree to help with the public improvements. Without a Meridian—New development in the town suffered a strong partnership between the public and private sectors decline in the 1980’s these types of projects would be too difficult and risky for a Water Street District. Photo by City of Henderson Redevelopment Agency Staff as people moved to company like Montecito to consider. Hank Greenspun’s master-, Green Valley. Over the years, ■ This project will create a minimum of 425 jobs and generate downtown realized higher and higher vacancy rates, physical approximately $190,000 in property tax revenues. deterioration of existing, single-story retail buildings and housing stock, and a decline in quality of life. In 1994, the City ■ With a total project cost of $21,000,000, and an Agency of Henderson Redevelopment Agency initiated rehabilitation contribution of $350,000, the Agency was able to leverage efforts and is now restoring economic activity, encouraging $60 of private sector investment for every $1 of public sector new commercial and retail development, and has constructed funds. a pedestrian-friendly, aesthetically pleasing streetscape. ■ This project will provide valuable services to an under- Redevelopment improved Downtown Henderson, now known served neighborhood, to the nearby Community College, as The Water Street District, by: and to those commuters entering and exiting Interstate 15 at Cheyenne. ■ Creating enduring private-public partnerships that have resulted in the completion of three new mixed-use FOR MORE INFORMATION: developments and one office complex in the last year adding www.cityofnorthlasvegas.com 91,900 square feet of office/commercial space, 5 luxury apartments, and 119 jobs.

■ Offering a façade improvement program and rehabilitating 31 existing commercial buildings.

■ Adding 135 affordable housing units.

■ Investing $3.2 million in addition to the City’s $9 million investment in streetscape and utility upgrades to promote development as well as create an inviting destination for residents and visitors.

■ Rehabilitating 75 town-site homes

FOR MORE INFORMATION Cheyenne Point Commercial Center before (top) and rendering (bottom). Photo provided by City of North www.cityofhenderson.com Las Vegas Redevelopment Agency staff and rendering provided by Las Vegas Corners I, LLC

6 Redeveloping Nevada • Success Stories Redevelopment Success Stories

Red’s Old 395 Grill CARSON CITY, NV

Within the redevelopment district, incentives to help fund development of a 120 seat “theme” restaurant, featuring a train station exterior and a 45 foot water tower, have helped to create what’s become a local icon. In addition, a turn-of-the-century steam roller on the adjacent property was added to create visual appeal. Street abandonment to accommodate the project itself and parking, monitory grants and support through the building approval process comprised redevelopment support. The project converted empty and unsightly downtown property into a dynamic commercial center that not only draws people into the restaurant, but also to adjacent retail and service businesses that generate substantial pedestrian traffic from Goatfeathers Emporium complete (top) and under surrounding hotels and motels. Highlights: construction (bottom).

■ Abandonment of streets and easements offered opportunity to sustain restaurant and 9 adjacent commercial suites Goatfeathers, Incorporated ■ Nationally known tenant restaurant BOULDER CITY, NV

■ Created 100 new jobs Goatfeathers, a Boulder City Emporium, located at 1300 Wyoming, is an RDA project that consisted of the renovation ■ Promotes significant pedestrian traffic from nearly 500 State of a 5,000sf building, and construction of a new attached 2 story employees within the “traffic” corridor 1800sf building.

■ Architectural theme supports and promotes overall This historic building in “Old Town” Boulder City housed the historic theme of community, thereby creating marketing Boulder City Laundry Co. following construction in 1948. What synergies had once been a laundry building now provides retail exposure to nearly 100 craft vendors and is adding vendors weekly. FOR MORE INFORMATION: www.carsoncityecondev.com This project has been a welcomed addition to tourists and locals alike and has certainly added to the shopping experience in Downtown Boulder City.

RDA funds ($99,900) applied to the renovation and the addition, helped bring this project to fruition.

FOR MORE INFORMATION: www.bcnv.org

This 120-seat themed restaurant is the anchor property in a previously blighted empty parking lot. Today, Red’s Old 395 Grill is a 7-day-a-week destination hot spot.

Redeveloping Nevada • Success Stories 7 RRedevelopmentedevelopment SSuccessuccess SStoriestories

For more information, please Redevelopment has played a key role in producing “ new multifamily projects especially designed to contact our member agencies: persons living within walking distance of downtown casinos. Through our Agencies’ partnership, redevelopment has been able to utilize City of Boulder City, Community Development Dept our mortgage revenue bond authority for these 401 California Avenue • P.O. Box 61350 projects and we hope to see more on the horizon. Boulder City, Nevada 89006 702-293-9282 • wwwbcnv.org Charles L. Horsey, Administrator” Nevada Dept. of Business & Industry, Housing Division Carson City Business Development Offi ce 201 North Carson Street, Suite #2 Carson City, NV 89701 775-887-2101 • www.carsoncityecondev.com

Carson City’s redevelopment efforts were locally- Clark County Redevelopment Agency “ driven through a very public process. [It] not only 500 S. Grand Central Pkwy. Las Vegas, NV 89155-1741 helped pave the way for our substantial private 702-455-3111 • www.co.clark.nv.us investment, but their faith in us inspired our faith in the community. Now, five years later, Red’s Old City of Henderson Redevelopment Agency PO Box 95050 395 Grill is a very engaged member of the business Henderson, Nevada 89009-5050 community, a proud corporate citizen, a major 702-267-1518 • www.cityofhenderson.com employer and an important sales tax generator. ” City of Las Vegas Redevelopment Agency Jack Sterling, Owner, Red’s Old 395 Grill 400 Stewart Avenue • Las Vegas, NV 89101 Carson City, NV 702-229-6100 • www.lvrda.org

Mesquite Planning & Redevelopment Director 10 East Mesquite Boulevard Mesquite, Nevada 89027 (702) 346-2835 • www.mesquitenv.com

City of North Las Vegas Redevelopment Manager 2225 Civic Center Drive, Ste. 224 North Las Vegas, NV 89030 702-633-2666 • www.cityofnorthlasvegas.com

City of Reno Redevelopment Agency 1 East First Street, Suite 700 • P.O. Box 1900 Reno, NV 89505 775-334-2077 • www.ci.reno.nv.us

City of Sparks Redevelopment Manager 1675 E. Prater Way, Ste. 107 • Sparks, NV 89434 775-353-1644 • www.ci.sparks.nv.us

Redeveloping Nevada • Success Stories 8