Redevelopment Wrecks: Las Vegas, Nevada

Las Vegas, Nevada

In 1997, the City Council approved the Sun Plaza Project, a high-rise office building proposed for the corner of Lewis Avenue and Fourth Street.  With the threat of eminent domain at their disposal, government officials acquired the property for the project with public money, but developers Nevada State Bank and American Nevada Corp. could not attract tenants to the building.  Two years into their redevelopment project, the developers approached City Hall and asked for more public funding.  This time, the City declined, pulling the plug on the project in March 1999 after shelling out approximately $8 million.[1]

[1] J.M. Kalil, “Before Goodman, Failed Projects Tainted View of Downtown,” Las Vegas Review-Journal, Dec. 19, 2004, at 40A.