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City council approves sale of downtown parcel for medical office and clears two development projects
Summary
The Las Vegas City Council approved a disposition and development resolution selling 1.54 acres at Shadow Lane and Wellness Way to a local developer for a proposed class‑A medical office building, and approved a six‑story mixed‑use building and a homeowner variance, with conditions to maintain streetscape greenery.
The Las Vegas City Council on March 4 voted to move forward with several land‑use actions intended to spur downtown and medical‑district development, approving a disposition and development agreement for a city‑owned parcel and clearing a nearby mixed‑use project and a residential variance.
Dina Babsky, director of Economic and Urban Development, told the council the city is proposing to sell 1.54 acres at the northeast corner of Shadow Lane and Wellness Way to Parting Seas Wellness LLC. Babsky said the parcel’s appraisal is $2,740,000 and the developer purchase price is set at $1,340,000 "to unlock the $100,000,000 investment that the project will bring" once built; the proposal calls for an approximately 84,000–85,000 square‑foot,…
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