Tivoli Village developers planning another Summerlin-area retail center
The developers of Tivoli Village plan to bring another shopping hub to the Summerlin area.
EHB Cos. and IDB Group USA said Thursday they’re planning to build a 200,000-square-foot retail center at the corner of West Sahara Avenue and South Hualapai Way. It’s expected to open next year.
The developers said the anchor tenant would be an unnamed “specialty grocer,” although the center would also offer accessories, beauty and sporting goods stores. They did not provide estimated construction costs.
Like many areas of the Las Vegas Valley, Summerlin has no shortage of retail centers or vacant storefronts. It also has the stalled Shops at Summerlin Centre, which was originally supposed to be a 1.5 million-square-foot shopping district but is now a steel skeleton near Red Rock Resort.
Still, the newly announced project on Sahara has its perks. It is surrounded by residential neighborhoods and is roughly one mile east from an exit off the Las Vegas Beltway, offering easy access from the freeway.
Brokerage firm Marcus & Millichap said in a report in June that the city’s recovering tourism sector will help drive a 4.5 percent jump in retail sales this year. It also said Summerlin, among others, would “outperform” the rest of the metro area.
The Sahara project’s announcement comes after developers said in January they would build “Las Vegas Renaissance,” a 700,000-square-foot indoor mall across the street from Tivoli Village. EHB Cos. will develop the Renaissance, which is expected to cost $350 million and be completed in 2015.
Tivoli Village, meanwhile, is a 28-acre, $850 million mixed-use project at the corner of South Rampart Boulevard and Alta Drive. The first phase opened in April 2011, comprising roughly 400,000 square feet. The second phase will bring another 500,000 square feet and is “well under way,” according to the developers.