A first-of-its-kind development offering workforce housing amid “supertrees” and “self-healing concrete,” as well as other ultra-high-tech features, is slated for 101 acres of land south of the South Point off Las Vegas Boulevard, a source familiar with the project told the Current.
Groundbreaking for Bleutech Park Las Vegas is scheduled for December, according to a news release issued last month, but the $7.5 billion, six-year-long project’s location has yet to be officially announced.
“I can’t confirm the location at this time,” project spokesman Tom Letizia told the Current. “We are having an event on August 26th to make that announcement.”
Letizia says the project is fully funded by Bleutech Park Properties, Inc., a Real-Estate Investment Trust (REIT). The REIT is “supported by leading institutional investors and private equity investments,” according to the news release. Bleutech Park, a Delaware company, filed corporate papers with the Nevada Secretary of State in July.
REITs pool investor capital to purchase or develop income-producing property. They differ from traditional real estate investment funds in that property held must also be operated by the investment company rather than sold.
Bleutech Park has the backing of Laborers’ Union president Tommy White, who says he attended a presentation on the project, which, according to the release, will be heavy on robotics.
“It doesn’t affect me at all,” White said of jobs for his members. “‘Cause somebody’s gotta run those robots.”
White says the union is planning training sessions for members to learn the skills required to operate robotic equipment.
“It’s going to be the first in the U.S.,” White said of the ultra-tech project. “But I imagine there will be a lot more.”
“The net-zero buildings within their own insular mini-city will feature automated multi-functional designs, renewable energies from solar/wind/water/kinetic, autonomous vehicles, artificial intelligence (AI), augmented reality, Internet of Things (IoT), robotics, supertrees, and self-healing concrete structures,” the news release announcing Bleutech Park said.
In a town where development plans fail to materialize almost as frequently as they take shape, White says Bleutech appears to be the real deal. CISCO and Martin-Harris Construction are among the project’s listed “partners.”
“I sat in on the meeting CISCO was at. CISCO doesn’t want its name tarnished on a project that’s not going to happen. It looks more legitimate to me than Faraday,” White said, invoking Faraday Future’s failed plans to build a $1 billion electric car plant near North Las Vegas.