Building Nevada Briefs - January 2006

Building Nevada Briefs

Trump Tower Pours Concrete

Trump International Hotel & Tower Las Vegas recently poured approximately 4,200 square yards of concrete to form a 12-foot thick foundation on which to begin building the first tower of the hotel. The project is located across from the Fashion Show Mall on a 41-acre site behind the Frontier Hotel. The first tower will rise 645 feet, with 1,282 rooms, at a cost of $300 million. The second tower will be an exact replica of the first. Both will include 50 luxury penthouse condo-hotel units of up to 10,000 square feet, a full service spa and various restaurants. The development will not have a casino. The towers are valued at between $1,000 and $1,833 per square foot, making it the most expensive residential real estate in Las Vegas. The two Trump International Towers will occupy a total of six acres, leaving about 35 acres in which to redevelop the New Frontier.

Granite Construction Works at Reno-Tahoe Airport

Granite Construction is conducting work on two contracts to carry out site improvements for the Reno-Tahoe Airport Authority. The project at the Reno-Tahoe International Airport began in June 2005 and is scheduled to be completed in November 2006. Improvements to the site will allow for increased access for airport traffic. Project details will include the removal and construction of a portion of the existing north taxiway, valued at $4 million, and aircraft apron pavement, valued at $16 million. Construction will take place in several phases in an effort to minimize impact on live aircraft traffic. In order to complete the project, Granite Construction will remove and replace more than 72,000 square yards of pavement using over 38,000 cubic yards of concrete.

Nigro Development Breaks Ground on Hotel

Nigro Development has broken ground on a $15 million, 75,000-square-foot Hampton Inn & Suites in Henderson. The hotel marks the first phase of an eight-acre, $25 million master-planned mixed-use project called The Place at Seven Hills. The master-planned site includes the hotel and 17,000 square feet of planned retail space, including a free-standing restaurant. The Place at Seven Hills is at the entrance to the Seven Hills master-planned community and adjacent to St. Rose Dominican Hospital’s Siena Campus. Nigro Construction is handling the build-out for the Hampton Inn & Suites as well as the adjacent retail space. The mixed-use development will supply much-needed hotel rooms and complementary retail to the growing area, which is also near the Henderson Executive Airport.

Major Projects Underway at Tahoe Reno Industrial Center

Grading for a new highway interchange at the Reno Tahoe Industrial Center has been completed, and work on the rest of the project will commence in spring 2006. The eventual interchange and bridge over the Truckee River will enable the USA Parkway to connect I-80 with Highway 50 at the commercial development 10 miles east of Sparks. The $6 million grading project was done to prepare the bank of the Truckee River with footings for the bridge in order to comply with master flood control regulations. Work has also begun at the Tahoe Reno Industrial Center to expand its state-of-the-art sewer treatment plant. The sewer treatment facility handles 350,000 gallons per day. When the expansion is completed, it will be able to take care of 1.2 million gallons per day, almost equal to the capacity of the entire Reno sewer system. Treated water is piped to a man-made lake, which will eventually cover 200 acres. When finished, the 104,000-acre Tahoe Reno Industrial Center will be the largest in the world.

Nevada Land Sold at BLM Auction

The Bureau of Land Management (BLM) auctioned off 87 parcels of federally owned land in November, with the largest bid totaling $639 million for a 2,675-acre parcel in North Las Vegas. The bid from Olympia Group, developer of the Southern Highlands master-planned community, equaled almost $240,000 an acre. The auction brought in a total of $791.3 million for 2,982 acres under the Southern Nevada Public Lands Management Act, plus another $8 million for an 80-acre parcel in Laughlin.