Las Vegas City Council votes unnanimously to approve ammended Kyle Canyon Development Agreement
LAS VEGAS, NV (DECEMBER 02, 2011) On November 16, 2011, the Las Vegas City Council voted unanimously to approve an amended Development Agreement for the project known as Kyle Canyon Gateway. The project consists of 1,662 acres located in the northwest quadrant of the City of Las Vegas. It represents the last significantly sized master-planned-community parcel in the City of Las Vegas and the approval of the revised Development Agreement between its owner and the City represents a significant step forward in this highly anticipated community becoming a reality. Carwin Advisors served as principal advisor to the owner and worked with City staff over a number of years to revise the Development Agreement and other approvals related to the project.
Its initial development plan centered around a dense urban residential development in a suburban location with an average density of over 12 units per acre. The revised plan includes a 40%+ reduction in density, while maintaining the same amount of park and recreational area and a thoughtful blend of land uses including single family residential, mixed use, commercial, and multiple future schools. The project will also include the construction of a new fire station and development of Indian Hills Park, a City park set between existing neighborhoods and the future Kyle Canyon community.
Carwin Advisors has a history of advising clients on the repositioning, restructuring, management and disposition of complex real estate assets, portfolios and companies. Kyle Canyon epitomizes complexity: numerous stakeholders, significant technical issues, and challenging economic conditions. When asked what differentiates Carwin Advisors from other advisors and developers, Patrick Vedra, Carwin’s Managing Director, said, “It is what we like to call The Carwin Process. In its most simplified form we are problem-solvers. At Carwin we start by defining an issue, understanding the perspective and concerns of all stakeholders, and developing creative solutions using the decades of experience and knowledge of our cross-functional team. We have perfected this methodology and made it portable; the problem changes but our process stays consistent. I also think that Carwin’s advantage stems from the fact that our team has relevant operational experience in all forms of real estate and in a diverse set of metro markets. We cross-pollinate ideas all the time.”
ABOUT CARWIN ADVISORS
Carwin Advisors, a Winchester Carlisle Company, is a national full-service real estate advisory firm specializing in solving complex problems and working with multiple stakeholders in the restructuring, turnaround, management and disposition of residential, commercial, and mixed-use real estate assets, portfolios, and companies.