The Highland
acre assemblage
Section 203
Multi-Use Opportunity
The Highland sits directly in front of the Club Wyndham Desert Blue, the Jade Apartments by Fore Property, and The Rio Hotel and Casino, which all are highly complementary uses to the future multifamily development at the site and will only enhance the view window.
THE OFFERING
HMV Land Assembly is pleased to offer the exclusive opportunity to purchase ±4.99 acres located near the Las Vegas Strip just west of the I-15 freeway interchange at Spring Mountain Road. The immediate surrounding area is complemented by resort destinations such as Wynn, Encore, Venetian, Palazzo, the new Resorts World Las Vegas, and Fashion Show Mall with anchors like Neiman Marcus, Nordstrom, Saks Fifth Avenue and Dick’s Sporting Goods.
In addition, the property is situated at the entrance into the Las Vegas Chinatown/Asian District, an area that has seen tremendous recent growth with popular dining, shopping, experiential retail entertainment such as Area 15, Club Wyndham Desert Blue Resort and multi-family developments like Green Leaf Lotus and Jade apartments. The property is subject to numerous short-term leases providing cash-flow while the property undergoes the entitlement and re-development process.
Property Highlights
• Located near the heart of the famous Las Vegas Strip
• At the entrance into Las Vegas Chinatown/Asian district
• Less than 1/2 mile from the I-15 Interchange
• Prime location with significant daytime and nighttime traffic from both locals and tourists resulting in +/-94,500 CPD, making it one of the busiest intersections inLas Vegas.
• Significant Acreage for redevelopment for a mixed-use project
Chinatown/Asian District Corridor
• Located along Spring Mountain Road at I-15 to Rainbow Blvd, this +/-3.5-mile stretch offers an exciting entertainment, shopping and dining destination for both locals and tourists. Known as Las Vegas Chinatown (Asian District), the area continues to grow with several recent retail developments such as Shanghai Plaza and Golden Spring Plaza including multi-family projects, Green Leaf Lotus and Jade.
• Chinatown (Asian District) visitors will find five Asian grocers, over 150 restaurants offering authentic Chinese and various Asian ethnic cuisines including affordable and upscale options, experiential retail, and entertainment.
AREA HIGHLIGHTS
• Lack of new development with continued demand
• Outperforms othersubmarkets. 4% retail vacancy
• Above market retail rental rates as high as $5.00 PSF/month
View the Property
The Highland
FULLY ENTITLED FOR 435 MULTI-FAMILY UNITS
Approved site plans are available upon request.
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HMV Land Assembly is a family office investment and development firm that owns significant real estate assets in Nevada, Idaho, and California, and is focused on the ground-up development of various Class-A property types.
© 2022. All Right Reserved. HMV Website.
HMV Land Assembly is a family office investment and development firm that owns significant real estate assets in Nevada, Idaho, and California, and is focused on the ground-up development of various Class-A property types.
© 2022. All Right Reserved. HMV Website.