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New Mixed-Use Project for North Las Vegas Lands Financing

12/07/23

A massive ground-up, mixed-use development in North Las Vegas called Hylo Park is underway, bringing a new walkable, master-planned community and dynamic sports village to the city. The 73-acre project is being developed by Agora Realty & Management.

Agora has closed on financing, marking the next phase in realization of the mixed-use project, located at the southwest and northwest corners of Rancho Rd and Lake Mead Blvd. Construction is now set for mid-June 2024.

The expansive, community-driven concept for Hylo Park combines a variety of housing options including entitlements for 1,300 residential units with 37 acres dedicated for a residential community. The pedestrian-friendly neighborhood will be supported by a grocery-anchored retail center, restaurants, and commercial services.

An innovative aspect of the planned development includes Champion Square, a sports village and public plaza that elevates the concept of “sports-entertainment” to support youth and amateur athletes as well as semi pro teams and competitions. The sports anchored center will serve the community and traveling teams creating a lucrative traffic generator for the surrounding restaurants and shops.

“From our longstanding work with North Las Vegas we knew that the city needed more housing and community services for its growing population. We also recognized an opportunity to leverage the draw of Las Vegas’ fast-growing sports industry. Champion Square will accommodate local youth and adult sports as well as attract amateur tournaments providing the same level of facilities and resources you would find for professional athletes,” said Cary Lefton, CEO, Agora.

This first-class sports concept at the heart of Hylo Park involves a multi-purpose sports rink and separate field house that will anchor a community village featuring expansive public space and outdoor digital video screen for sports watch parties, and other local programming and events. The square will also include shops, restaurants, and service-oriented retail in proximity to an extended stay hotel. Earlier this year the city of North Las Vegas and Agora announced that the Vegas Golden Knights will provide management and programming for the existing ice arena.

“North Las Vegas is a city with a true pro-business attitude. They embraced our concept and supported our effort to achieve the sheer massing necessary to bring this high-level concept to fruition. We were able to build upon that collaboration by attracting the Golden Knights organization, adding a whole new level of excitement to our sports focus,” added Lefton. “The city’s commitment to improving the quality of life for its residents is why we have continued to invest here.”

Agora is the largest retail developer and owner in North Las Vegas. The developer is also leading North Las Vegas’ largest Redevelopment Agency project in the history of the city, encompassing redevelopment of 19 acres along the downtown Lake Mead and Las Vegas Blvd corridor. This mixed-use development for North Las Vegas’ downtown includes medical offices and health care facilities, shops, restaurants, parks, housing, and public spaces where the community can gather. All told, Agora’s Vegas Valley current portfolio includes approximately 600k sf of existing retail space.

North Las Vegas has captured the interest of developers for many reasons, including the fact that the area benefits from large tracts of land with proximity to a great labor pool supported by a business-friendly environment. For this reason, the city has benefited from phenomenal growth and investment. Over the past ten years, the city has recruited companies to North Las Vegas that created more than 63,000 new jobs.




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