New owner plans to redevelop downtown Las Vegas motel
A Las Vegas real estate developer has plans to redevelop a downtown motel site into apartments and retail space.
In the meantime, Siegel Group, which bought the Gateway Motel property in early April for $5.95 million, plans to renovate the property and rebrand it as a Siegel Suites offering fully furnished flexible stay units. The property will be combined with the neighboring Siegel Suites.
The Gateway Motel, located at the intersection Charleston and Las Vegas Boulevards, has been around since 1931 and has 47 units, said Stephen Siegel, the CEO of the Siegel Group.
The Siegel Group bought the site because of its proximity to the Arts District and because it’s next door to an existing 64-unit Siegel Suites building, he said.
“It’s a rare opportunity to acquire such a prime corner property at a bustling intersection on Las Vegas Boulevard with immense future development potential,” Siegel said in a statement.
Renovations to convert the Gateway Motel to a Siegel Suites property should start in May and take about 90 days to complete, Siegel said.
The long-term redevelopment plan for the property is to demolish the existing buildings for both the Gateway Motel and Siegel Suites and build a mixed-use apartment concept with ground-floor retail space, Siegel said.
“All the streets on this site are great,” Siegel said in an interview with the Las Vegas Review-Journal. “They have a lot of traffic that retailers like to see.”
The demolition of the existing buildings won’t happen until the redevelopment plans have permits, Siegel said. He also said the goal is to finalize the redevelopment plans for the Gateway Motel site by the end of the year.
The designs for the mixed-use development should reflect the area and will based on “old, retro and modern mid-century” elements to fit in with other buildings in downtown Las Vegas and the Arts District, he said.
Siegel said he hopes to preserve the neon Gateway Motel sign at the property and add some other vintage Vegas touches, including adding some fences and statues.
Siegel isn’t the only one developer looking to bring new projects to this area of Las Vegas. Several other apartment projects have been proposed including a 275-unit Ilmunia Midtown project by Schulman Properties at the intersection of Charleston Boulevard and Grand Central Parkway; a 337-unit project by the Southern Land Co. at the intersection of South 3rd Street and East California Avenue and a 311-unit project by CEDARst Companies near the intersection of Commerce Street and West Imperial Avenue.
Contact Sean Hemmersmeier at shemmersmeier@reviewjournal.com. Follow @seanhemmers34 on X.
