On the other side of Maryland Parkway, Campus Village was a popular shopping center in the 90s and early 2000s, but became abandoned and has recently been demolished to a fenced-off dirt lot.
C2 Capital Development will be giving the dirt lot a new face with a building that would cost anywhere between $180 million to $200 million. The rendered picture of the building takes cues from its surroundings with some scarlet colored trim around the face of the building and UNLV logos on it.
The 3.4-acre property is set to break ground next year in the late first quarter to early second quarter, similar to that of the construction of Station Casinos new Durango Hotel-Casino. The new addition across UNLV would have retail, residential, restaurants, and office space according to the Review Journal.
UNLV will be leasing two floors of the building, yet the building would not be opening until the next few years, according to Frank Marretti, founder of C2 Capital Development. The university is under another 20-year term that will cost $1.8 million a year.
“My hope is the work we do on Maryland Parkway will change Maryland Parkway for the next 30 to 40 years,” Marretti said to News 3.
The company is keeping the name Campus Village as it’s going to replace the vandalized building with a second shot.
Construction was halted as the pandemic shutdown not just campus, but the nation.
Marretti’s company is responsible for the University Gateway building found on Maryland Parkway and Dorothy Ave. The project cost roughly $18 million, the new Campus Village would be roughly 10 times more expensive than University Gateway, according to the Review Journal.
UNLV is set to repay C2 Capital Development roughly $1.3 million every year for the next 20 years. Once UNLV has finished off financing, the university would then own the parking garage and the police station. The parking structure holds 813 parking spots and 610 of those spots, roughly 75 percent of the spots, are reserved for UNLV permit holders. 16 additional spots are for the University Police Department.
The new Campus Village would be made up of two buildings that would include one being a hotel that those visiting can stay at and not the Strip.