11-acre Chinatown plot available for $32.5M

Eleven acres of land in the Chinatown area of Las Vegas that could be prime for redevelopment is up for sale for $32.5 million.

The 11-acre site, referred to as Chinatown11, is near Spring Mountain Road in the block between Valley View Boulevard and Procyon Street. It’s also across the street from the Center at Spring Mountain complex, which contains the Golden Tiki and the Double Zero Pie &Pub. Chinatown11 is listed by Colliers International Las Vegas.

Chinatown11 has received “robust” interest due to the reputation of the Chinatown area as an off-Strip destination for tourists and locals and the 11-acre site is larger than most pieces of land available in the area, said Adam Malan, vice chair of Colliers in Las Vegas and listing agent for the property.

“It really serves as the gateway to the Chinatown-Asian district, which has always had a lot of buzz, a lot of activity,” he said. “The immediate area has had really strong success in the last five to 10 years.”

The Chinatown area has been very active for the last decade because of the number of highly rated restaurants, said Angelica Clemmer, an executive vice president at ROI Commercial Real Estate. Clemmer said she hopes any project that could be developed on the Chinatown11 land creates more space for retail and restaurants in Chinatown.

“Spring Mountain and the Chinatown neighborhood on a restaurant basis is very, very difficult to penetrate,” she said. “There’s not a huge amount of vacancy and there’s a high, high demand to be there.”

Chinatown11 is listed as a redevelopment opportunity since the current buildings are for short-term industrial uses, Malan said. He also said there are active discussions with potential buyers who want to bring in mixed-use, multifamily or hospitality projects.

The property is also near two proposed expansion sites of the Boring Co.’s Vegas Loop project which could be a boost as these stations should make any future project easier to access, Malan said.

“This hyperloop station will allow people to access the development from anywhere along the Strip and ultimately from throughout the (Las Vegas) valley,” he said. “Being adjacent to a transit station allows the developer to take advantage of density bonuses and reduced on-site parking requirements, which is a big value add for any development.”

One challenge for redevelopment at Chinatown11 is the entitlement process which can take up to two years, Clemmer said.

Spring Mountain corridor redevelopment

More development besides the Chinatown11 land could be on the horizon for the area as the Clark County Commission recently allocated $200,000 to hire consultants to create a redevelopment plan for the Spring Mountain corridor, a Clark County spokesperson said.

Clark County Commissioner Justin Jones, who represents the area, said the corridor redevelopment plan is being prepared because the community has said more investment is needed.

“As the County Commissioner representing the largest (Asian Americans and Pacific Islanders) population by district, I’ve received feedback from community members emphasizing the urgency of revitalizing Spring Mountain and making substantial investments in its cultural infrastructure,” Jones said in an emailed statement. “ We hope to look at the existing conditions and potential new opportunities to improve this area with a focus on placemaking and placekeeping.”

Jones said the next step of the redevelopment plan is to gather more community feedback on what should be addressed. Jones also said a web page and community survey dedicated to the Spring Mountain Corridor’s redevelopment should be launched in the next few weeks. A Clark County spokesperson said it could take 18 months to complete the redevelopment plan.

Malan said the timing of Clark County’s redevelopment plan works well with the listing of the Chinatown11 land since any redevelopment on the site would be a long-term project.

Contact Sean Hemmersmeier at shemmersmeier@reviewjournal.com. Follow @seanhemmers34 on X.