Zappos CEO Tony Hsieh’s Downtown Project has new name
Zappos CEO Tony Hsieh’s Downtown Project has a new name.
The downtown Las Vegas-focused investment vehicle announced Wednesday that it’s now called DTP Companies.
“Looking back, we couldn’t be more proud of how far we have come in building the foundation of Downtown Project,” Michael Downs, executive vice president of DTP, said in a statement. “Looking forward, as we continue to build on what has been created, we feel DTP has outgrown something formerly conceptualized as a ‘project.’”
Formed in 2012 with $350 million to spend, Downtown Project invested in tech startups, restaurants, bars and other ventures in the Fremont Street area. With a $200 million allocation, real estate constituted the bulk of Hsieh’s plans, with his group assembling a portfolio of some 90 properties as of last year.
Among other things, it owns shuttered motels, operates retail complex Downtown Container Park and partnered with Arizona developer The Wolff Co. to build Fremont9, a five-story, 232-unit apartment complex that recently opened.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.
