Organizers of a high-tech “mini-city” planned for Southern Nevada showed off the project’s integrated technology and burgeoning community support at an event Wednesday but left lingering questions on its location and financial backers.
Bleutech Park Las Vegas confirmed it has secured a large piece of land in unincorporated Clark County but won’t release location details until negotiations on an adjacent lot are complete, said project spokesman and consultant Tom Letizia. The organizers originally intended to unveil the location Wednesday.
A source familiar with the project previously told the Current that the undertaking is slated for 101 acres of land south of the South Point off Las Vegas Boulevard.
Bleutech hasn’t closed escrow on the first piece of property but is “under contract” and has it “locked up,” Letizia said. That portion of land will contain the crux of the development and its signature building.
A timeline on the purchase of the second plot, which would host public safety services and a Bleutech-financed 40,000-square-foot fire station with photovoltaic panels and vegetation roofs, wasn’t available.
Developers aim for a groundbreaking in December, with work crews beginning to move dirt in January.
Despite the aggressive timetable, project organizers seem hopeful.
“Everybody wants to participate in this project. I don’t think government’s going to be an issue,” Letizia said. “I think everybody wants it to happen.”
Numerous local organizations and politicians showed their support for the enterprise Wednesday including representatives from the offices of U.S. Sen. Jacky Rosen and U.S. Rep. Susie Lee, both Nevada Democrats, as well as the Latin and Urban chambers of commerce, and Laborers’ Union President Tommy White.
The development is backed by Bleutech Park Properties, Inc., a Delaware-based Real-Estate Investment Trust (REIT). Letizia said he doesn’t know how many investors are part of the REIT or their names. He also said he doesn’t think the names of the investors funding the project will be made public unless they choose to come forward.
Despite the secrecy, he assured that funding to cover the $7.5 billion costs for the six-year, first-of-its-kind development will not be an issue.
“The funding is already there,” he said. “We’re not asking for any money. There’s no solicitation of investors. That is not a part of this project.”
Bleutech’s Las Vegas park is expected to create more than 25,000 jobs and offer a mixed-use environment with hotel, entertainment, office, retail and “ultra-luxury” residential spaces, according to its website. It will also include workforce housing, of which a central element will be affordability.
The undertaking is making national headlines for its promise of net-zero buildings and advanced technologies like its energy-harvesting walkways, autonomous vehicles and self-healing concrete structures.
Not only do supporters hope the effort will bring in jobs, but the work involved will incorporate international technology startups, which will be required by their agreement with Bleutech to manufacture to some extent in the United States.
Letizia said he has had early discussions with North Las Vegas Mayor John Lee about potentially attracting the companies to manufacture in that city.