The idea to redevelop the east side of Maryland Parkway has been budding for at least 20 years.
With its Wednesday approval of a new seven-story building, complete with a rooftop deck and pool, the Clark County Zoning Commission is bringing that idea to life.
“It’s been a long time waiting and quite a big project,” said project developer Frank Marretti. “It’s going to be tallest building on the east side of Maryland Parkway.”
UNLV sees the “University Gateway” project as the spark for additional redevelopment to come along the corridor.
The first floor of the building, located at Maryland Parkway and Dorothy Avenue, will include retail and commercial space, while the second floor will be comprised of office space to be leased by the university.
The floors above that will be a mix of studio, two- and six-bedroom apartments, which will be move-in ready and feature high-end finishes. The apartments could be a draw for university professors, young executives or graduate students, Marretti said.
“We’re looking to deliver an extraordinary experience in the area,” he said. “We’re bringing a high end product to the area to accommodate students and staff, or people in general.”
Marretti said construction on the building will commence by the end of the year and will be finished in early 2019.
It’s the second part of a project on the same lot where Marretti has a parking garage, the majority of which is being leased by the university. The lot has been vacant for years, and was previously occupied by a strip mall.
“We’re really excited about the second phase of this project,” said David Frommer, executive director of planning and construction at UNLV. “It’s a step forward in creating the university district — a vibrant university midtown.”
Frommer said he sees the project as an opportunity to bring more people and more activity to the area, improving its energy and vitality.