Downtown Las Vegas Moves Closer To A New Era In Culture And Architecture, City Council Clears Way For Construction On The Smith Center For The Performing Arts

The Las Vegas City Council gave unanimous approval today to several agenda items that clear the way for construction to begin on The Smith Center for the Performing Arts. Plans for The Smith Center outline classic elegance that will stand unique in the Union Park 61-acre, mixed-use, master-planned urban center in downtown Las Vegas. The votes were taken during this morning's City Council and Redevelopment Agency meetings.

“The Smith Center for the Performing Arts is a cornerstone in building our reputation as a world-class city with arts, culture and outstanding architecture,” said Mayor Oscar B. Goodman.  “The performing arts center, along with the Lou Ruvo Brain Institute, add a new dimension of sophistication to our city.”

The Smith Center for the Performing Arts is a public-private partnership that will become the centerpiece of cultural life in Las Vegas. Designed to address the cultural needs of the community, The Smith Center will offer a blend of performances by local arts groups as well as first-run touring attractions. The 4.75-acre cultural complex will feature music, theater, and dance companies who celebrate cultures from all over the world.

Plans for the world-class performing arts center include a 2,050 seat multipurpose main hall and an education building that will house a 300-seat cabaret theater facing onto Symphony Park; and a 200-seat flexible studio theater for rehearsals, children’s theater and community events. Groundbreaking for The Smith Center is planned for spring 2009 with a projected opening in early 2012.

“Las Vegas has a very bright cultural future on the world stage,” said Myron G. Martin, president of The Smith Center for the Performing Arts.  “This city made a strong commitment to fostering cultural and educational opportunities through this outstanding public-private partnership that will attract a broad cross-section of residents and visitors.”

The city of Las Vegas, through its non-profit corporation City Parkway V, is providing the land for the project. In addition, the Redevelopment Agency (RDA) is contributing $76.78 million for the facility, which includes $68.78 in RDA bonds. In addition, the city, Clark County and state legislature collaborated on a car rental fee that resulted in a bond of $105 million. The city used its General Obligation bond backing to maximize the funding generated by the rental car tax revenue. A portion of the RDA funds will be repaid once rental car tax proceeds are sufficient to do so.

Union Park is a 61-acre, mixed-use, downtown neighborhood located in the heart of Las Vegas on land owned by the city of Las Vegas. The city retained Newland Communities, the country’s largest privately owned national real estate developer, as development manager in 2005. Considered the single most important element of the revitalization of downtown Las Vegas, Union Park is anchored by two key public facilities, the Cleveland Clinic Lou Ruvo Center for Brain Health and The Smith Center for the Performing Arts. The phased development plan also includes the World Jewelry Center, a centralized marketplace for the gem and jewelry industry; The Charlie Palmer, a boutique hotel; a casino-hotel to be developed by Forest City and a mix of urban residences by Newland Communities. Planned to encompass more than 10 million square feet of office, medical, residential, retail and hotel/hospitality space, Union Park has a value of approximately $6 billion and a build-out of approximately 10-15 years. For more information, visit www.unionparkvegas.com.

For more information about The Smith Center for the Performing Arts, visit http://www.thesmithcenter.com.

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