Downtown Las Vegas Gentrification
To keep up with the rapid redevelopment on the Strip, downtown Las Vegas is now going through a contemporary makeover. Old buildings are being torn down or renovated and mid-level and high-rise condos are replacing dilapidated neighborhoods and apartment buildings. Over 16,000 residential units have been planned for the downtown area. The World Market Center is in phase three of construction. The Furniture Warehouse has been so successful in its first stage that they are planning on expanding to 12 million square feet in a total of eight different buildings. The WMC has also inspired the World Jewelry Center to build a corporate headquarters in Southern Nevada. The WJC will be over 1 million square feet, making it one of the largest jewelry centers in the world. The WMC Tower will also include exhibit space, a museum and residential condos.
When the Las Vegas Premium Outlet Center opened in 2003, critics expected the project to fail. Now The Simmons Property Group wants to expand the outdoor mall by 140,000 square feet in order to add 25 more stores and two new parking garages. The brand new IRS building is not far from the Premium Outlet Center. It is located in Parkway Center along with the Molasky Corporate Center. The Molasky Corporate building was constructed using only environmentally friendly methods. It is the first privately-owned building in Nevada to be certified by the U.S. Green Building Council.
