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Renaissance Urbanentertainment District’S Entrance Archway 3RD QUarter 2008 THE CITY OF LAS VEGAS OFFICE OF BUSINESS DEVELOPMENT urbanRENAISSANCE urbanEntertainment district’s entrance archway. QUarterly NEWSLETTER 3 Better Jobs. Brighter Futures. 9 Historic School Returns To Life 10 New City Hall As Catalyst 11 Wired! LAS VEGAS REACHES LAND AGREEMENT This past July, the Las Vegas City Council approved an agree- ment with CIM Group to develop the land adjacent to the museum planned for the historic Post Office building on Stewart Avenue in the downtown area. Under the agree- ment, the city of Las Vegas remains responsible for the museum, with NEW BUSINESSES TO OPEN IN CIM Group providing the vertical, DOWNTOWN ENTErtaINMENT DISTRICT retail-oriented, mixed-use devel- opment on the surrounding land Tenant Improvement Allowances Offered commonly referred to as the “Post Office Block,” which developers TAMARES REAL ESTATE, a London-based developer with a major presence assert will enhance the area’s appeal in the downtown Las Vegas real estate market, is currently marketing a combined as a tourist destination. total of 8,087 square feet of retail space in Las Vegas’ new entertainment district, “CIM Group has a successful Fremont East. track record in developing projects Live entertainment operators are currently in negotiations for two Tamares that serve as catalysts for revitaliz- spaces, located respectively at 517-B and 525 Fremont St. In addition, Tamares- ing urban districts,” said Las Vegas owned space is available at 523 Fremont St. and 106 Sixth St. Mayor Oscar B. Goodman. “The site that will house the Mob Museum “New Businesses,” continued on page 2 “Land Agreement,” continued on page 4 “New Businesses,” continued from front cover All are prime locations for enter- emphasized Jossel. The estimated opening date for tainment venues, restaurants or retail, In particular, Tamares is interested Don’t Tell Mama is late 2008/early asserts Jonathan Jossel, director of in seeing outdoor, sidewalk/café-style 2009. strategic planning for Tamares. dining, helping to create a vibrant MORE REtaIL SPACe… “We’re aiming for the feel of the street atmosphere, according to Bob Gaslamp District in San Diego, which Miller, senior associate, real estate ser- Other Tamares retail space available in offers an eclectic mix of dining opera- vices with CB Richard Ellis, the leas- the Fremont East District include 523 tors and drinking establishments that ing representative for Tamares. Fremont St. and 106 Sixth St. Tama- the public can walk to and among,” res has already conducted interior de- COMING SOON! molition, including removal of all inte- DON’T TELL MAMA rior demising walls, to create grey shells POURING ON THE New York-based operators recently so that operators can more easily and CHARM signed a deal with Tamares to open less expensively customized the space If you are seeking an alternative to a 1,757-square-foot piano bar called to fit their needs. the Las Vegas Strip, you might want Don’t Tell Mama The site at 523 Fremont St. offers to patronize downtown’s enter- at 517 Fremont St., tainment district, Fremont East. next-door to the Beauty Bar. City of 1,127 square feet of interior space, as Establishments such as Beauty Las Vegas Office of Business Devel- well as an 858-square-foot courtyard. Bar, The Griffin, Take 1 Nightclub opment and Redevelopment Agency Offering a blended rate, Tamares’ rent- and the Downtown Cocktail Room (RDA) staff are currently assisting al price on this space is $3 per square can be found here. And while in foot for the interior portion, and $1.50 downtown, you might want to get to them through the Fast Track assis- know George Sproule, manager tance program. The RDA’s Fast Track per square foot for the courtyard area. of the Downtown Cocktail Room. program assists businesses within the This space would be suitable for an up- Staff writers from the valley’s lead- designated Redevelopment Area by ex- scale, fast-casual bistro. ing newspaper, the Las Vegas pediting the city entitlement and per- Review-Journal, recently selected The Tamares location at 106 Sixth Sproule as one of the area’s best mitting processes. St. offers approximately 3,800 square bartenders. To qualify for this list, This will be the second such op- feet with an urban, industrial feel. Built mixologists had to not only “know eration for the family-owned business, in 1934, it previously served as a laun- how to fix a good drink, but have the which established a successful reputa- dry for the El Cortez Hotel & Casino. personality and professionalism” that keep folks coming back for tion with their first venue, opened in It includes a roll-up back door, alley more. The city’s Office of Business 1982 in the heart of Manhattan. access and other unique amenities, Development says “Cheers!” to this “I think it speaks volumes for the providing an atmosphere suitable for spirited attitude in the Fremont East a larger restaurant and bar. And 1,555 District. area that they have chosen their second venue to be in downtown Las Vegas square feet of mezzanine area is avail- able for additional dining, a bar or loft- George Sproule as opposed to somewhere else,” said Jossel. style office space. Similar to the Manhattan opera- Tamares will provide a tenant im- tion, the downtown Las Vegas Don’t provement allowance of $35 per square Tell Mama will offer a variety of live foot for both these locations. music and dancing in a theatre-cabaret, and encourage pub-style sing-alongs in their piano bar. This new venue will also specialize in promoting local bands, as its owners have successfully done in New York. 2 BETTER JOBS. BRIGHTER FUTURES. “BeTTER JOBS. BRIGHTER FUTURES.” It’s more Funding for the non-profit F.I.T., which was founded than just a slogan for the folks at Las Vegas’ Foundation in 1997, has primarily been from private sources. For ex- For An Independent Tomorrow (F.I.T.) ample, in 2007 Harrah’s Entertainment and the Har- This past summer, F.I.T. opened their doors to a brand rah’s Foundation provided a $1.5 million grant for new new, full-service facility dedicated to helping unemployed F.I.T. offices that feature a computer lab, library and train- ing rooms. and underemployed Nevadans find meaningful work. The city of Las Vegas Redevelopment Agency A one-stop, job-finding assistance shop, the new contributed by making a donation of land valued at over 12,600-square-foot facility is located at 1931 Stella Lake $450,000. The Redevelopment Agency’s Fast Track Drive in West Las Vegas. team also assisted with expediting design review and per- Resource Manager Stacy Rackley noted that F.I.T. mitting of the project. employees strive to obtain jobs for clients that pay at least In addition, beginning on July 1 of this year the orga- $10 per hour and which provide upward mobility. nization started receiving funding from the federal Work- Among the services offered by F.I.T. personnel are re- force Investment Board. sources and support for education, vocational training and employment preparation. F.I.T. Grand Opening 3 STRIKING THE RIGHT CHORD IN FREMONT EAST STRIKING THE RIGHT CHORD shop is located at 516 Fremont St. and ciple owner Danny Monaghan. among the eclectic mix of shops, drink- specializes in the sale of high-end new The city of Las Vegas Office of ing establishments and entertainment and vintage guitars, amps and related Business Development and Rede- venues in downtown Las Vegas’ new accessories. In addition, Fremont St. velopment Agency is assisting with Fremont East entertainment district Guitars offers a full-service shop spe- the recruitment of entertainment and is Fremont St. Guitars. The new gui- cializing in custom-built guitars and retail for available space in the Fremont tar shop opened this past June to take guitar repairs. Guitar lessons for begin- East District. For more information, advantage of the foot traffic generated ners, as well as professionals, are also contact Julie Quisenberry, real estate by the Fremont Street Experience available at the new shop, run by prin- specialist, at 702.229.2109. and surrounding establishments. The “Land Agreement,” continued from front cover is going to be a Even though no city funds are invested in the Lady great attraction Luck, as part of its commitment to downtown’s revitaliza- for Las Vegas and tion CIM Group has agreed that the city will receive all the new retail, property tax increases generated by the Lady Luck devel- restaurants and opment, funds that in typical redevelopment agreements enter tainment are retained by the developer. In addition, CIM Group will will complement contribute up to $3 million in proceeds from a signage pro- not only the new gram on the Lady Luck site to the city with the intention museum but the that it be used for the direct benefit of the museum. The larger revitaliza- signage program will be presented to the city for approval tion that is tak- in the near future. ing place in our The partnership will work to gain approvals from gov- downtown core.” ernment agencies with oversight of the land including the City officials National Park Service. Following approval of the master estimate the proj- plan, a parking study will be initiated to determine the ap- ect will generate propriate size of the parking garage that will be developed about $50 million to serve the museum and the mixed-use project. in new taxes over This agreement is conditional, based upon CIM Group the next 23 years meeting certain performance milestones in the redevelop- and about 2,500 jobs in downtown Las Vegas.
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