weather icon Clear

Las Vegas using grant incentives to spur office migration downtown

Before e-commerce retailer Trend Nation, LLC relocates its operations and roughly 40 employees to downtown Las Vegas, extensive renovations must be finished to its new home: A 60-year-old building in dire need of repair.

By late March, Trend Nation founder and CEO Brad Howard said he expects the $1-million-plus rehabilitation — including structural rebuild, asbestos removal and inside gutting — to be completed.

For Howard, it was well worth the work: a chance for the company, which started 12 years ago in the northeastern valley, to be centrally located and cater to a millennial workforce with the area’s bevy of nearby bars and restaurants. But the company isn’t doing it alone; the city is chipping in.

As downtown redevelopment continues at a torrid pace for retail and restaurant industries, Las Vegas seeks to incentivize one sector that has lagged behind the revitalization boom: The office market, which has seemed to be the slowest to recover from the Great Recession, said Bill Arent, the city’s director of Economic and Urban Development.

In an effort to recruit more companies to move to the greater downtown area, the city this fiscal year introduced the Office Tenant Incentive Program, offering grant money to assist small- to mid-sized businesses with the costs of entering into older properties that may be less traditionally considered office spaces — or the “hidden gems of the marketplace” as Arent described them.

Trend Nation was awarded $50,000 in November, making it the first recipient of the program.

“It was a key factor in us choosing the downtown area,” Howard said.

Companies must sign at least a 5-year lease to be eligible for the OTIP program, Arent said, but he suggested overall “barrier to entry is pretty low.”

The company also received $25,000 through the Commercial Visual Improvement Program, which launched over a decade ago to improve commercial property facades. The program helped as many as 12 businesses annually during its infancy, largely in the retail and restaurant sectors. It now assists far fewer, Arent said, but only because those markets have grown dramatically since then.

Contact Shea Johnson at sjohnson@reviewjournal.com or 702-383-0272. Follow @Shea_LVRJ on Twitter.

Don't miss the big stories. Like us on Facebook.
Politics Videos
Bernie Sanders Unveils Affordable Housing Plan - Video
Bernie Sanders sits down with the Las Vegas Review-Journal to talk about his new affordable housing plan he unveiled at Plumbers & Pipefitters.
Jim Marchant talks gun control and Dreamers - Video
Republican Candidate for District 4 Jim Marchant talks about gun control and immigration policies. (Las Vegas Review-Journal)
Hurricanes, Gender, and Science in the Press
Imagine if the mainstream media’s current hurricane-sized obsession with scientific accuracy applied to gender.
Cory Booker on college tuition and minimum wage
Cory Booker talks on the RJ Politics podcast about college debt, informing workers about their rights and livable wages.
Nevada Politics Today: Teacher raises - VIDEO
Jason Goudie, the chief financial officer for the Clark County School District, talks about teacher pay and raises. (Las Vegas Review-Journal)
Media's Double Standard On Incitement And Trump - Video
Over the weekend, an Elizabeth Warren-supporting socialist who opposed gun violence used a rifle to commit a mass murder in Dayton, Ohio. The media has downplayed that aspect of the tragedy.
Project Our Care Tour Kicks Off In Las Vegas
U.S. Rep. Dina Titus joined health care advocates and local residents as part of Protect Our Care’s nationwide bus tour kick off in Las Vegas on Monday, August 5, 2019. (Mat Luschek / Review-Journal)
Bernie Sanders talks about guns, response to El Paso shooting
Sen. Bernie Sanders spoke about his response and continued policy ideas about guns and gun control to the Review-Journal after a panel of other topics. (Rachel Aston/Las Vegas Review-Journal)
Pete Buttigieg On Gun Control And Climate Change - Video
Pete Buttigieg talks about his campaign for the 2020 election and how Nevada is a vision of what the future can be.
Beto O'Rourke speaks in Las Vegas
Presidential candidate Beto O'Rourke spoke to supporters at the East Las Vegas Community Center in Las Vegas, Thursday, Aug. 2, 2019. (Las Vegas Review-Journal)
Former Nevada Senate leader Kelvin Atkinson sentenced to prison
Former Nevada Senate Majority Leader Kelvin Atkinson, who pleaded guilty to misusing campaign funds, was sentenced to 27 months in prison on Thursday, July 18, 2019. (Mat Luschek/Las Vegas Review-Journal)
Trumps Strength is also a Weakness - Video
One of Donald Trump’s greatest strengths — his ability to shape national narratives — is also a great weakness.
Tax the Rich Bus Tour makes a stop in Las Vegas - Video
The Tax the Rich Bus has stopped in Las Vegas as part of its summer tour. (Las Vegas Review-Journal)
Assemblywoman Daniele Monroe-Moreno hosts BBQ - Video
Assembly Woman Daniele Monroe-Moreno hosts BBQ to bring the community together to hear about the candidates up for election and for people to gather and have fun.
Democrat Virtual Caucus - Video
Elizabeth Warren visits Las Vegas
Senator Elizabeth Warren made a campaign stop at the East Las Vegas Community Center on Tuesday July 2, 2019. (Mat Luschek / Review-Journal)
Aaron Ford Speaks About Bill AB431
AB431 is a bill sponsored by Nevada Assembly Speaker Jason Frierson to restore the right to vote for formerly incarcerated individuals. Attorney General Aaron Ford spoke at the AM&E Church in North Las Vegas about the bill, on Monday, July 1, 2019. (Mat Luschek/Las Vegas Review-Journal)
The Right Take: Biden's Racially Questionable Comments
Joe Biden has uttered racially charged statements for years. Now that he’s the frontrunner for the Democrat presidential nomination, he may finally face prolonged scrutiny for them.
Christopher Rufo Discusses Homelessness In The USA - VIDEO
Christopher Rufo discusses homelessness in the United States and how politicians can work to improve conditions for those with drug addictions.