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Las Vegas redevelopment agency approves purchase of 0.87-acre lot for proposed ArtSpace artist housing
Summary
The Redevelopment Agency voted Dec. 18 to acquire a 0.87-acre parcel at 1431 South Las Vegas Boulevard to advance a proposed ArtSpace affordable housing development estimated at 60–70 units; staff said a development agreement is not yet finalized and the stated purchase price in the record was unclear.
The City of Las Vegas Redevelopment Agency voted Dec. 18 to approve a real property purchase and sale agreement to acquire a 0.87-acre vacant parcel at 1431 South Las Vegas Boulevard for redevelopment and potential affordable housing for artists.
Dina Babski, director of economic and urban development, told the board the parcel is being negotiated for acquisition and is “0.87 acres.” She said the negotiated land rate works out to about $84 per square foot and that ArtSpace, a nonprofit developer, has performed a feasibility study that showed a need for artist housing in the arts district. “ArtSpace itself, they’re a developer. . . They’re nonprofit. We’re very excited to partner with them,” Babski said, while adding that the city has not yet executed a development agreement with the organization.
Babski said the proposed development would include residential units, gallery space and a makerspace and estimated the project could yield approximately 60 to 70 units. Councilwoman Diaz linked the proposal to community requests to retain artists in the arts district, saying the project is “a way that the city is intentionally helping that cause and that mission.” Diaz moved to approve the agenda item; the presiding officer announced the motion carried.
The transcript of the meeting contains inconsistent or garbled references to the purchase price. Babski stated that the purchase price had been negotiated but the numeric figure recorded in the spoken record was unclear; the official contract amount was not provided on the public record during the meeting. Staff also corrected a drafting detail on the record to clarify that the buyer should be listed as the Redevelopment Agency rather than the City of Las Vegas.
Next steps indicated during the session: staff will continue work on the purchase and on negotiating any development agreement with ArtSpace. No binding development agreement with the nonprofit had been executed by the end of the meeting.
