Nevada's Only Statewide Business Magazine IF YOU DON'T ~NT TOKNO THE TRUTH, TURN THE PAGE. Truth is, you can offer a quality health care plan, without sacrificing the individual needs of your employees. And the truth is, it isn't magic. It's hard work on our part. But the results are worth it- and you don't need to receive big rate increases. For the truth about health care insurance costs, call your broker or a Nevada Sierra Health & Life representative. Southern Nevada 702-646-8350 Northern Nevada 1·800·477-4542 NBJ- 2 ~BUSINESS :ljOURNAL PUBLISHER/EDITOR Lyle E. Brennan SAVE HUNDREDS BY PLANNING ASSOCIATE PUBLISHER Chuck Dandy YOUR TRIP EARLY! ASSOCIATE EDITOR/ ART DIRECTOR Special Rates for Airline Tickets & Cruises. Barbara L. Moore Call for Details: (702) ?32-4514 CONTRIBUTING EDITORS Kathleen Foley 2000 E. Flamingo, Suite C • Las Vegas, NV 89119 David Hofstede Tom Kennedy Tom Martin R. Keith Schwer K. Michael Spuhler The VISion Is Taking Linn Thome ACCOUNT EXECUTIVE Chuck Dandy Place Now The Nevada Business Journal is lisred in Standard Amidst the desert horizon with vistas of valleys and volcanic peaks, Rates & Data. #20A-Business-Metro, State & Regional. Advertisers should contact Chuck Dandy at (702) rests the site of Nevada's largest master planned communities. 735-7003, or write to: The Nevada Business .Journal. First Interstate Tower, Suite 120,3800 Howard Hughes Pkwy, Las Vegas, Nevada 89109. Demographic infor­ Adynamic resort, residential, and recreation community mation is available upon requesl. Circulation may vary from month to month. surrounding a 320-acre man-made lake. Aworld-class destination The Nevada Business Journal corporate offices are located in the First Interstate Tower. Suite 120. 3800 Howard Hughes Pkwy. Las Vegas. Nevada 89109. NBJ resort by Transcontinental Properties, Inc. is published bi-monthly. bulk postage paid. Subscrip­ tion rate is $27.00 per year. Newsstand price is $5.00 and special order single copy price $7 .00. All contents 1992 copyright. and reproduction of material appearing in NBJ is prohibited unless so au­ thorized by the publisher of NBJ. CHANGE OF ADDRESS: Please send previous ad­ dress or mailing label & new address. Allow six weeks. EDITORIAL SUBMISSIONS: Address all submis­ sions to the attention of Chuck Dandy. Unsolicited man­ uscripts must be accompanied by a self-addressed stamped envelope. NBJ assumes no responsibility for ~ unsolicited materials. LAKE VEGAS DISCLAIMER: Editorial views expressed in this L A S magazine are not necessarily those of the publisher. RESORT May/June 1992 • Nevada Business journal 3 May/june 1992 IC0 NTENT S Volume 7- No. 3 Features Green Valley Update- Planning and construction on schedule The Green Valley area of Henderson is now nearly 75 percent complete with more growth in view on the horizon. Lake Las Vegas Turns Corner on Development With the lake now just 12feet below capacity, plans are taking shape for this 2,243-acre master-planned resort community overlooking Lake Mead and the Las Vegas Valley. m Nevada Lawyers Draw Line in Sand New restrictions in attorney advertising have polarized Nevada's legal community. Page 6 m Plantworks Owner Suggests "Stretching" for Survival Linda Lewis says she has survived this recessionGJ}' period by "stretching" her operations. Special m Coming Home to Summerlin After its first full year of sales, the master-planned community de veloped by Summa Corpora- Supplement tion holds the number-nne spot in Nevada's robust home-buying market. · Growing number offamilies Raytheon.Services .................................. xvii coming home to Summerlin ....................... v KGA Architects, AlA ......... ... ...... ...... ..... xviii Summerlin's Builders .................. ........... viii VTN Nevada .... ....................................... xix G.C. Wallace ........ ........ .............. ...... ... ... xiv Valley Bank at Summerlin ........................ xx Pentacore Engineering ............................ xv Design Workshop ............... ... .. ... ......... .... xxi 771e Meadows School at Summerlin. See supplement page v. Lewis Homes ... ...... .... ......... ... ............. ..... xvi Western Technology .............................. xxii Departments m Executive Profiles • Scholarship fund estahlished in memory ofDr. Russell Anderson • American Nevada Corporation appoints Eric A. Traub as new president and CEO Tax Tips: Making loans and gifts to family members is useful to transfer wealth. Loans and m non-Taxable gifts are opportunities that should not be overlooked, however, one must know the rules to avoid tax liability pitfalls. Entrepreneur Eric Scott Schaffer, president of Cool Valley Air, is a crusader/or a number of causes: clean air, energy conservation and cost reductions are just a few of them. Nevada Briefs: Bradshaw, Smith & Co. announce construction plans • Beazer PLC m (Bonanza Materials and Industrial Construction) acquired in friendly takeover • Centel marks 500,000th phone lin e milestone • MacDonald Ranch receives tentative water agreement from the City of Henderson• WT Environmental Consultants merges with Western Technologies In c. • Perini Corporation to build Circus Circus' new Egyptian-themed Luxor On the cover: Summerlir1 Presi­ resort • Cellular One continues expansion efforts • Sierra Health posts profitable first quarter dent Mark Fine (lefl) and Summa Corp. CEO john Goolsby pictured • Rosewood Lakes recognized for environmental significance • USDOC honors International 011 the Tournament Players Club Gaming Technology for excellence in exporting • Q&D Construction's Norman Dianda at Summerlin golf course. receives University ofNevada President's medal See page 17. Photo by Tom Craig Business Indicators & Analysis: Improvements in housing sales and vehicle sales point m to signs of a recovering economy. Master-Planned Conununities GREEN VALLEY UPDATE: Planning and construction on schedule Bv ToM KEN NEDY many high-profile businesses have estab­ lished positions within Green Valley. A partial list of existing business develop­ ments in the community includes Green Valley Plaza, the Professional Center, the ' Commerce Center, the Business Park, the Civic Center, Parkway Springs Plaza and the Athenian Center. American Nevada Corporation is norv finalizing plans for the construction of the Green Valley Town Center, located on a 55-acre parcel of land surrounding the Green Valley Athletic Club on Sunset Road. The family-oriented center will ap­ peal to residents of all ages by offering a broad range of new shopping, dining, recreational and cultural opportunities. American Nevada is also taking a pre­ liminary look at plans for a "South Green Valley Town Center" which would be located in the area of Green Valley Park­ way and Lake Mead Blvd. With about 300 Legacy Golf Course acres available in that area, the company sees many more commercial facilities being built with the potential to create an The Green Valley area of According to American Nevada Corpo­ employment center for up to 15,000 ration, primary developer of the master­ people. Future commercial sites in south planned community, approximately 2,500 Green Valley may include facilities for Henderson is now nearly acres of undeveloped land is still available headquarters offices, research and devel­ for future residential and commercial use. opmentcompanies, high-tech firms, medi­ Now home to more than 33 ,000 resi­ cal offices and additional retail centers. 75 percent complete dents, Green Valley is a balanced commu­ Perhaps the most notable new develop­ nity, offering a wide range of housing ment activity in the Green Valley area has options from luxury apartment homes to been the construction of eight new public with more growth in estate-sized custom homes in the $1 mil­ schools over the past 2 Y2 years. Two of lion range. The community has a sound the most recently completed schools in­ infrastructure in place, including its own clude Hank and Barbara Greenspun Jun­ view on the horizon. schools, churches, shopping centers, pro­ ior High School and Green Valley High fessional plazas and municipal facilities. School, which opened their doors to area With the area's growing population, students in September, 1991. 6 Nevada Business journal • May/June 1992 Green Valley Update Hank and Barbara Greenspun Junior open to public play. Designed by renowned High is located on North Valle Verde golf course architect Arthur Hill, the Leg­ between Windmill Parkway and Wigwam acy Golf Club is rated among the top 100 Parkway. The 145,000-square-foot facil­ golf courses in the country and now hosts ity can accommodate a total of 1, 700 more than 100 tournaments each year. students. Along with 52 basic classrooms The course features wall-to-wall turf with the school has a shop which is utilized for special character landscaping, two lakes, tech-ed courses, two art rooms, a band rolling terrain and abundant trees. The room, a chorus room, a small theater and clubhouse includes a restaurant, lounge, a modern gymnasium that seats 1,200. pro shop and locker rooms. The school also has a fully-computerized An ongoing series of art and cultural library, five science labs, three computer programs sponsored through American rooms and a typing room. Nevada Corporation and numerous com­ Green Valley High School can accom­ munity-based organizations are held year­ modate 2,500 students and opened with round in Green Valley. Events include an enrollment of nearly 2,000. The build­ free art exhibits, plays, movies and con­ ing