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Real Estate and Development
Setting our sights on sustainability
By Brian Wargo / Staff Writer

Some elected officials and business leaders met over two days last week to give their insights on how local governments and community leaders can create a sustainable environment in Southern Nevada.

The recommendations from the round-table discussion sponsored by the Lied Institute of Real Estate Studies won't be made public until a white paper is released in the next couple of months. If previous round tables are any indication, the recommendations should spark a lot of public debate. The public and media were not allowed to attend.

During last year's round table on economic diversity, some participants suggested Las Vegas' "Sin City" image deters companies from wanting to move to Southern Nevada.

"The repeated message was that we need a shared community vision and that we need, as a community, to help define the solutions," says Debra March, executive director of the Lied Institute. "Local governments shouldn't approve land-use plans, for example, unless they consider the environment, roads and social impacts as well. If you increase density, there are going to be social impacts such as health care and child abuse."

The recommendations won't be directed at elected officials only, but at business leaders, especially the gaming industry, March says. Eighty people participated in the four sessions.

The round table suggests the vision must be shared by the community as a whole, March says. The push for sustainability must come from the bottom up to be successful.

The group defined sustainability by framing it in terms of economic diversity, water resources, transportation infrastructure and quality education and health care systems, says Ron Smith, executive director of the Urban Sustainability Institute at UNLV, who helped facilitate the discussions at one of the sessions.

Smith says there was some concern about the hotel resort industry not buying into the importance of the concept. It wasn't just about money but political support and moral support and involvement, he says. Everyone recognizes they are an important partner, he says.

In the end, however, it is all about getting everyone on board, he says.

"The question asked was: 'Will the community have the political will and investment in sustainability?' " Smith says. "It is a question mark."

Mike Dwyer, a UNLV professor of environmental studies who participated in one of the sessions as a moderator, says sustainability is a complex concept to implement.

"It is not rocket science, but it is hard," Dwyer says. "We have rocket science figured out."

It is more than just economic sustainability, but dealing with the environment and quality of life, Dwyer says.

"I think to achieve sustainability and a high quality of life in Southern Nevada is not easy," Dwyer says. "There are a lot of moving parts and complex interrelationships. You have to understand the moving pieces and not do something that has unintended consequences and (will be) counterproductive. You don't want to create an environment that destroys the social environment."

In other news:

  • The number of listings by Realtors continues to be primarily composed of nonowner-occupied units. Vacant units represent 54 percent of the 22,095 homes for sale, according to Applied Analysis. About 10 percent were occupied by renters, and 36 percent were lived in by owners. There are 7,279 homes under contract, with 4,259 contingent and 3,020 pending. Forty-eight percent of the contingent units are short sales.

  • Tony Blankley, a panelist on "The McLaughlin Group" TV show, will be the keynote speaker at the 11th annual Western States Commercial Real Estate Finance Conference at Wynn Las Vegas. Sponsored by the California Mortgage Bankers Association, the conference will focus on emerging trends.

  • Inc. ranked Las Vegas real estate developer Group Gemstone in the top five of its annual 5,000 fastest-growing private companies in the country. Gemstone is the developer of ManhattanWest, a mixed-use condominium development that includes 700 residences, retail stores, restaurants, office space and a hotel.

  • Century 21 Express has acquired Century 21 Advantage Gold, which will continue to operate under the same name, said Linda Red Wallin, broker and co-owner of Century 21 Express. There will be more than 300 agents in three offices.

  • Kenneth Lowman, the owner of Luxury Homes of Las Vegas, says that although the number of luxury home sales are down, the prices are stable compared with past year. "Many of our buyers pay cash in this part of the market, and we are not as affected by foreclosures as the average marketplace is," Lowman says. "I still see plenty of wealthy buyers looking for luxury homes in Las Vegas." The buyers are local, national and international, he says.

    Brian Wargo covers real estate and development for In Business Las Vegas and its sister publication, the Las Vegas Sun. He can be reached at (702) 259-4011 or by e-mail at wargo@lasvegassun.com.

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