Downtown Las Vegas continues to flourish

LAS VEGAS - Sunday marks five years since the opening of the new Las Vegas City Hall which ushered in a new era for Downtown Las Vegas.

Many who live and work in the area say Downtown Las Vegas has come a long way in a short amount of time. 

"Everyone thought that downtown was slowly declining, but there's been incredible revitalization," said Uri Vaknin of KRE Capital.

Vaknin owns Juhl high rise condominiums downtown which is at about 90% capacity. He says he’s seen a lot of interest from people of all ages looking to move to the area.

Vaknin says he’s seen downtown transform and he believes the area is drawing more and more people to the central valley.

"People have said Las Vegas is not a world class city because it was lacking things, but what's really exciting to see are things like the Smith Center bringing unbelievable culture downtown. The Mob Museum which is one of the top-ranked museums in the country," Vaknin said.   

Along with the new City Hall building, the Mob Museum also opened five years ago. In only a few short years, the museum’s CEO says it has experienced tremendous growth.

"We know that this is delivering on the promise that the City of Las Vegas had when it first created this museum. First envisioning this museum as an economic driver," said Jonathan Ullman, the Executive Director of the Mob Museum.

In 2016 more than 355,000 visitors checked out the museum which tells the history of Las Vegas’ battle between crime and law enforcement.

It’s a significant uptick from 2012 when the museum hosted about 200,000 visitors.

“We're proud to say that we’re kind of the first of the pack of amazing cultural institutions. The Smith Center, the Neon Museum, the Children's Museum," said Ullman.

The downtown development isn’t stopping anytime soon. With more cultural and entertainment venues are on the way, Vaknin says he’s looking forward to what the next five years have in store.

“Get down here now. It's an exciting place to be," Vaknin.

The Downtown Las Vegas medical district is also expanding by more than three times its current size. City leaders expect the growth to have an economic impact of more than $2 billion by 2030.


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