New Mall Planned for Busy Shopping Area | Business
A new mall may be coming to the western side of Las Vegas. The new shopping area is being built between Boca Park and Tivoli Village along Rampart Boulevard near Alta Drive.
The Las Vegas Renaissance is expected to be built over the next three years. It is being developed by the same group that built Tivoli Village. Despite the vacancies at retail shopping centers around southern Nevada, the developers still think Las Vegas is being underserved.
"Our view of the market is that we absolutely need more retail," executive vice-president of Tivoli Village and Renaissance Patrick Done said.
The plan is build a 700,000 square-foot enclosed mall on the vacant lot across Alta Drive from Tivoli Village. Developers say they are working to secure the tenants for the project.
"We are in conversation with all of the anchor stores you would expect to see here, as well as some of the retailers which will complement what we have done at Tivoli Village," Done said.
The cost of Renaissance is set at $350 million which has not been secured yet.
Tivoli Village opened with a handful of stores and restaurants last April. The second phase of that project is slated to open in 2013. It is part of a four-block retail area that has seen ups and downs. The Great Indoors closed several years ago, but Fry’s Electronics is expected to open in the empty building in March.
Restaurants and other retailers in the area are counting on Fry’s, Tivoli Village and now the new mall to boost business. Jimmy Maddin owns the restaurant Baja California near Rampart and Charleston Boulevards. The building has been several different restaurants over the years.
"I am a resident of Summerlin for a longtime. I’ve driven by and watched all the building changes and name changes, and loved the location and could not find a nice place to eat in Summerlin that did not want to hold you up by gunpoint," Maddin said.
As for the new mall, the plans call for it to be finished in 2015 with a pedestrian bridge connecting it to Tivoli Village.