Regents reprimands UNLV for lack of preparation over 42-acre lot

The future of UNLV’s 42-acre lot near the Strip is still uncertain after the Nevada System of Higher Education Board of Regents special meeting Tuesday.

“This land is not just a parcel of real estate,” University President Keith Whitfield said during a presentation of four proposals for the land. “It’s a transformative opportunity to shape the future of UNLV and its future within the border of Las Vegas.

UNLV purchased the 42-acre lot off the Strip, along Tropicana Ave. and near Koval Lane, in 2015 for $50 million, and costs the $3 million annually on debt services, security and maintenance.

Since then, the university has submitted multiple plans proposals to Regents for potential development, including a 99-year ground lease for a non-educational, mixed-use development that would generate $1.25 billion in revenue — which Regents have expressed concerns over.

Whitfield and Associate Vice President of Planning, Construction and Real Estate David Frommer on Tuesday presented the Regents with four plans for discussion but few details were revealed during the meeting. The university officials were met with criticism by the Regents over lack of preparation and communication over supplemental materials.

New plans proposed include partial development for academic partnerships, mixed-use development for revenue generation, comprehensive requests for proposals for the entire property and a flexible phased development approach.

Proposals for use of the land

In the first proposal, the majority of the property would be allocated to development of academic partnerships with other institutions, research opportunities or tech companies. This would be accomplished either through RFPs or with potential partners.

The remainder of the lot would be designated for mixed-use developments to generate revenue. This would include a separate RFP process and would include commercial development, such as retail, hospitality or mixed-use spaces to create “sustainable revenue.”

Another proposal is to allocate the entirety of the 42-acre lot to a comprehensive RFP process focusing on “maximizing revenue generation.” Developments would include student services, academic programs or general campus improvements.

The final proposal is for a “phased development approach” for flexible use of the land for short-term use, while a long-term plan is developed. According to Whitfield, this would be similar to when UNLV leased part of their land to Formula 1 for parking in 2023.

Regent Carol Del Carlo said the supplemental materials were submitted at the “eleventh hour,” and she is “really tired” of receiving materials so late and needs more information. Additionally, the supplemental materials did not include any RFPs or media plans, which Regent Stephanie Goodman said she had requested.

During the meeting, Frommer said they had received four to five RFPs and two made it to the shortlist. Additionally, Frommer said they advertised the RFP with the Review-Journal as a “statutory requirement” and sent out over 1,800 invitations.

“This item was supposed to discuss these things so that we have full transparency, so that people in the community understand,” said Goodman. “In the future, I think it would be vital to be more prepared.”

Regent Byron Brooks made a statement reprimanding the university for their lack of communication on the matter.

“While these are information-only items today, it doesn’t negate the fact that there is a lack of communication,” said Brooks. “You have the answers, just execute it. Communicate.”

Contact Emerson Drewes at edrewes@reviewjournal.com. Follow @EmersonDrewes on X.