Construction underway on $50M project in downtown Henderson

A Las Vegas developer is putting up a mixed-use task connected Water Street, bringing a large task to a long-sleepy corridor that has seen much enactment lately.

Strada Development Group is constructing The Watermark, a seven-story task successful downtown Henderson that is slated to diagnostic retail and bureau abstraction and 151 apartments.

It hopes to unfastened the astir $50 cardinal task adjacent July oregon August, Strada co-founder Tom Wucherer said Tuesday.

All told, The Watermark volition beryllium downtown Henderson’s biggest existent property improvement successful caller representation arsenic measured by dollars, and it volition beryllium the tallest gathering connected Water Street, Henderson redevelopment manager Anthony Molloy confirmed Tuesday.

Henderson officials person agelong sought to revitalize the city’s downtown, wherever implicit the years ft postulation has been light and ground-up existent property projects person for the astir portion been comparatively small. But caller restaurants person opened there, different ventures person taken shape, and much radical person headed to Water Street lately.

Strada’s 1.2-acre crippled adjacent Atlantic Avenue is crossed from the Lifeguard Arena crystal rink, which opened past November. It’s besides adjacent The Pass casino, which reopened successful April aft caller proprietor Joe DeSimone renovated the 1960s-era erstwhile Eldorado Casino.

The metropolis of Henderson has invested heavy successful Water Street, and Strada wanted to enactment up a “landmark building,” Wucherer said. Asked however his steadfast would person radical to unrecorded successful downtown Henderson, helium replied that it’s a akin speech astir moving to downtown Las Vegas.

If tenants tin unrecorded successful a caller flat gathering connected Water Street and locomotion to restaurants, casinos and different amenities, “why wouldn’t you?” helium said.

Wucherer said that helium grew up successful a tiny municipality successful Wisconsin wherever “all the commercialized worldly is dying” and that Water Street reminds him of his aged downtown.

But, helium added, “I spot the imaginable for a renaissance” successful downtown Henderson by making it an amusement district.

TSK Architects proprietor Windom Kimsey, whose steadfast is based connected Water Street, said developers person enactment up caller buildings implicit the past respective years successful the downtown area, but the projects person been small.

The main exception, helium noted, is Lifeguard, a 120,000-square-foot installation that has 2 sheets of crystal and is the signifier rink for the Silver Knights minor-league hockey team.

Lifeguard is “the large kahuna” downtown, said Kimsey, who, by comparison, is processing a astir 3,600-square-foot task connected Water Street that volition diagnostic 3 apartments and immoderate commercialized space.

“That’s been a reasonably emblematic scale” for the area, helium said.

Strada held a ceremonial groundbreaking for The Watermark successful April. At the time, a quality merchandise said the gathering would see a “high-rise excavation and terrace” with an outdoor lounge, operation parking, a yoga studio, and tenant retention lockers.

Henderson Mayor Debra March said successful the merchandise that The Watermark would bring “a much-needed residential component” to the area.

More recently, Acres Capital Corp. and George Smith Partners announced Aug. 31 that they teamed up to supply a $37.5 cardinal operation indebtedness for the project.

Mark Fogel, Acres’ president and main executive, said successful the merchandise that the “well-situated” spot offers tenants “convenience and casual entree to amenities.”

Contact Eli Segall astatine esegall@reviewjournal.com oregon 702-383-0342. Follow @eli_segall connected Twitter.