Building Nevada - August 2005

Olympia Land Corporation

Diversifying Development Opportunities

by Robyn Campbell-Ouchida

For the past three decades, Garry Goett has been one of Nevada’s most prominent developers, transforming raw parcels of land into some of the state’s most sought-after addresses. Communities such as Southern Highlands and the accompanying Southern Highlands Golf Club, both located in Las Vegas, and an upcoming master-planned development in Lincoln County are all products of Goett’s fertile imagination.

In 2000 Goett founded The Olympia Land Corporation in Nevada to oversee his extensive land holdings throughout the Silver State. The company’s subsidiaries and related entities actively engage in all phases of real estate development, from land investment to residential, commercial and retail development. As president and chief executive officer, Goett has channeled the company’s resources towards quality real estate development projects, as evidenced by the 2,700-acre Southern Highlands master-planned community.

When approaching a real estate project, Goett said he practices a sound philosophy. "We fully integrate the needs and wants of a community with local economies and governmental bodies," he said. "We pride ourselves on conducting thorough planning with feedback from a variety of community entities." In order to create "smart, quality growth," Goett works hand-in-hand with community and business leaders and governmental agencies. "We’ve built a reputation for quality projects that we hope will carry over into all new ventures," he said.

In addition to Southern Highlands, The Olympia Land Corporation’s current portfolio includes some of the most desirable and high-profile real estate projects and property in Southern Nevada, including: the 600,000-square-foot Eastern Beltway Center; the 900,000-square-foot Centennial Center anchored by Home Depot; the 350,000-square-foot Centennial Gateway anchored by Wal-Mart; the proposed 175,000-square-foot Blue Diamond Retail Center, which will be anchored by a supermarket; the 200,000-square-foot Southern Highlands Retail Center; and the 120,000-square-foot Olympia Corporate Center.

In February 2005, Olympia Land Corporation spent $20.2 million to acquire 5,500 acres bordering Mesquite for future development. "We bought the land because we’re excited about creating a new master-planned town in Lincoln County," Goett said. "We envision creating a community for those who want to retire up there, for people who just want a small town environment, and for people who want a satellite community that’s reasonably affordable and close to Las Vegas. I think we have an opportunity to deliver a product at a price point that has been lost in Las Vegas."

Goett has also formed a gaming company to oversee two separate master-planned, mixed-use developments spanning 350 acres in Las Vegas. The two parcels, located between Cactus Avenue and St. Rose Parkway and bounded by Las Vegas Boulevard and Interstate 15, are slated for a combination of casino, residential and retail use, featuring a regional shopping center. "The formation of a gaming arm for our thriving real estate development business reflects the natural evolution of our company," said Goett, who opened the successful Casino Fandango in Carson City in 2003. "Over the years, we’ve added commercial, retail and now gaming to our core residential and land-investment businesses. We’re extremely excited about the potential we now possess as a multi-faceted development corporation."

He added, "With gaming’s rapid growth in various jurisdictions, creating a gaming company was a strategic move on our part and further enhances our ability to develop all aspects of a mixed-use, master-planned project."

With the addition of a gaming division to the overall umbrella of companies, the Olympia Land Corporation has now positioned itself as one of the most broad-ranging and diverse developers, capable of developing all aspects of a mixed-use real estate project.