Completion of UNLV parking garage again delayed

The completion date for a new parking garage at the University of Nevada, Las Vegas was pushed back for a second time after state education officials on Friday approved a new timeline for the $18 million project.

The garage, which is expected to fit 626 vehicles at the intersection of Maryland Parkway and University Road, is now scheduled to be finished by May 31, 2017.

The Board of Regents of the Nevada System of Higher Education in December approved a public-private partnership between UNLV and land developer Frank Marretti to build the structure, which will also include a new 10,000-square-foot home for the UNLV police department. At the time, the project was scheduled for completion by January 2016, but the date was pushed back by six months during a subsequent discussion in June.

The board unanimously voted Friday to extend the deadline again at UNLV's request. In meeting documents submitted to NSHE, the university says Marretti's real estate company, New Town MD, has requested the changes to "assist...in obtaining financing for the project." The school says building permits for the garage have been obtained and the project is ready to begin now that the new deadline has been set.

"We hope and pray that this will be the last set of changes that we need," UNLV President Len Jessup told the board on Friday.

Under the deal, Marretti will finance the project's construction and UNLV will repay him about $1.3 million annually for 20 years, after which the school will own the parking garage and the police station. The structure will sit on a 2.2-acre parcel that will house other businesses which will claim some of the parking spots.

Marretti bought the property about two years ago for $3 million and later accepted a bid from UNLV to partner on the project.

Contact Ana Ley at aley@reviewjournal.com or 702-224-5512. Find her on Twitter: @la__ley.