The City of North Las Vegas has obtained a critical 17-acre parcel that will serve as the Apex Industrial Park’s water connection plant. City officials will use the $185 million plant to connect Apex tenants and the park at large within the city’s water supply system.
“This opens up Apex and all of its sewer needs right now,” explained Mayor John Lee once the deal was approved.
Solidification of infrastructural plans brings the Apex site one step closer to accommodating Faraday Future, Hyperloop One and all the other businesses that will soon call the Industrial Park “home.” Designs for the plant as well as for all water, power, sewer, rail and gas infrastructural needs should be completed by March of 2017, with construction beginning soon after.
By 2019, the revamped Highway 93-Interstate 15 interchange will be completed, hopefully heralding many of Apex Park’s tenants being in full operation by that time.
City Approves Land Swap with No Hesitation
After a unanimous vote and no discussion, the City Council consented to the necessary land swap between the city, the Faraday-connected Robin Prop Holdco and the Hutchins Living Trust. Under the agreement, Hutchins Living Trust will deed the city 17 acres of land in the western area of the Apex utility corridor and to the south of U.S. Highway 93, according to City spokeswoman Delen Goldberg.
In return, Hutchins will receive a different 17 acre parcel located near the Grand Central Parkway from Robin Prop. For this service, the city will pay Robin Prop the full cash value of their land at the time they purchased it, which equals $510,000.
Once a special tax district is created for Apex area businesses, the city expects to quickly recoup such costs. Tax revenues should also nearly compensate the city for their investment in the Apex site’s needed water plant.
The city expects to complete construction on water connection facilities and lines by March 2018, enabling Faraday Future, Hyperloop, several medical marijuana businesses and other Apex tenants to access the water soon after.
Timeline for Apex Construction Locking into Place
With the land needed to build the Apex Park’s water plant in hand and design drafts nearly in place, Mayor John Lee and the city of North Las Vegas are fulfilling their promises made to convert the barren Apex land into a money maker for the North Las Vegas area.
When completed, the park and all of its tenant businesses could create as much as $193 billion in total economic impact over the span of two decades. It will also provide an estimated 116,000 jobs, according to a 2014 multi-department report assembled by the University of Nevada, Las Vegas.
City officials like Assistant City Manager Ryann Juden expect that the resulting influx of high-wage jobs will provide a scaffold for the economy of North Las Vegas and the overall fiscal health of its residents. This turnaround, helmed primarily by Mayor John Lee, represents a tremendous success story that pulls the city away from the memories of near-insolvency it faced in 2014.