Land near the planned Raiders corporate offices and practice facility along St. Rose Parkway in Henderson has become a hot commodity.
Stable Development won a competitive bidding war before Tuesday’s Henderson City Council meeting, with a winning bid of $8.25 million, for a 8.15-acre parcel on St. Rose Parkway and Spencer Street.
The group plans to build “The Village,” a mixed-use project with office and retail space, said CEO Lance Bradford. Deals are still being finalized with potential tenants.
“We are ready to go,” Bradford said.
The parcel is just down the parkway from where the Raiders complex will be constructed on 55 acres.
Henderson earlier this year sold the Raiders that land for $6.05 million, which represents half of its appraised $12.1 million value. The deal was agreed to on the basis that having the complex in the area would attract other businesses to the stretch of St. Rose that is mostly vacant lots.
The proposed Raiders complex isn’t the only new construction pegged for St. Rose. The Block, a mixed-use project which will include a movie theater, office space, retail shops and townhomes, is the most notable plan. There also are proposals for a Costco and other residential additions.
Bradford said the Raiders facility being nearby did influence Stable Development — which also owns the nearby Seven Hills Plaza on St. Rose Parkway — to be aggressive in the bidding process.
“The Raiders facility (being nearby) definitely helped in our decision making,” Bradford said. “It fits in to what we do here along St. Rose Parkway. It was a very active bid, and we knew it was going to be.”
With all the development going on along St. Rose Parkway and further south, Bradford sees the area becoming one of the more attractive parts of the valley once all the projects are complete.
“It’s going to be another Summerlin Parkway, a central part of the city,” he said. “You can see where things are going to continue growing south, so Henderson—mainly St. Rose Parkway— will become more and more the middle of the city.”