FEATURE ARTICLE, MAY 2007

Clock Towers Soon To Chime In Nevada
Citation Property Group is developing two new mixed-use projects in the Las Vegas area.
Susan H. Fishman

Southern Nevada will see two new mixed-use developments come to fruition in the next few years: The Clock Tower at Spanish Hills in Las Vegas and The Clock Tower at Seven Hills in Henderson, Nevada. These “sister” projects are both well located in successful master-planned communities and will bring much-needed retail to an underserved market.

The Clock Tower at Spanish Hills Fort Apache & Hacienda

Located at the northwest corner of Fort Apache and Hacienda in the fast-growing southwest area of Las Vegas, this 10-acre, 545,000-square-foot mixed-use development includes 308 upscale condominiums, 55,000 square feet of retail, 35,000 square feet of restaurants, and 53,000 square feet of office. The estimated $150 million project is being developed by Citation Property Group. The center will be restaurant-anchored, says Rodney Tucker, CEO of Citation Property Group. The balance will be soft-goods retailers, including small independent boutiques.

“The neighborhood has a huge shortfall of white tablecloth dining,” Tucker notes. “While there is a tremendous amount of big box retail at I-215 and Tropicana, there is a lack of specialty retail and clothing stores to serve the community.”

What was more interesting was the fact that the neighboring demographics are actually stronger than our Seven Hills site [see next page], which is a very affluent area.”

Conveniently located just off the I-215 Beltway in the southwest area of Las Vegas, the project is nested on the southern edge of Las Vegas’ most successful master-planned community, Summerlin. “We chose the name “Spanish Hills” because we are contiguous to Spanish Hills, which is a small set of hills right on the Spanish Trail that ran between Mexico and California,” says Tucker. “We felt comfortable with the name as being something that people would recognize.”

Designed by architect JMA of Las Vegas, The Clock Tower at Spanish Hills is truly a mixed-use project, and all the components are meant to integrate. According to the architects, it’s really a city within a neighborhood.

“We are making a long-term investment in Southern Nevada,” says Tucker. “We typically hold our projects for 20 years or more. Therefore, we build quality projects with timeless designs that are destined to be part of the fabric of the community for many years to come. We’ll be using granite pavers and a generous amount of stone throughout the project.”

Construction on phase one, which includes the freestanding condominium towers, started in March 2007, with completion estimated by second quarter 2008. Construction of phase two, which includes retail, office and condominiums, will begin in January 2008 and completion is slated for first quarter 2009.

The Clock Tower at Seven Hills (Green Valley)

The first phase of The Clock Tower at Seven Hills consists of a one- and two-story urban village including 37,000 square feet of upscale restaurants, 65,000 square feet of retail, and 30,000 square feet of office.

Across the valley and connected by the I-215 Beltway, Citation Property Group also is developing The Clock Tower at Seven Hills, a dynamic, master-planned, mixed-use project located on an 11-acre site in the Green Valley area of Henderson, one of the fastest growing cities in Nevada. Designed by Gensler of Nevada (condos by JMA), the development is expected to cost $225 million.

The first phase of the project consists of a one- and two-story urban village including 37,000 square feet of upscale restaurants, 65,000 square feet of retail, and 30,000 square feet of office. The village is connected by meandering pedestrian walkways of pavers, elaborate water features and raised planters that mimic a European village street scene. Gathering places include plazas, outdoor dining, terrace areas, fire pit, pedestrian bridges, and rooftop gardens.

Phases two and three of the project will add a 133-room, six-story boutique hotel and a seven-story, 300-unit condominium complex to complete the blending of commercial and residential uses that offers living and hospitality in proximity to retail, restaurant, and support service facilities. Like The Clock Tower at Spanish Hills, this project will be focused on restaurant dining, and Citation Property Group is in negotiations with several regional and national restaurants with plans to sign on about six tenants.

The urban village at The Clock Tower at Seven Hills is connected by meandering pedestrian walkways of pavers, elaborate water features and raised planters that mimic a European village street scene.

“The Seven Hills community within Green Valley is a great location to live, work, and shop,” adds Zack Hussain, a broker with CB Richard Ellis, who is handling leasing for both projects. “Conveniently located to the Strip, McCarran Airport, and the I-215 Beltway, The Clock Tower at Seven Hills will be one of the foremost shopping and dining locations in the Southeast.”

The Clock Tower at Seven Hills is located at the intersection of St. Rose Parkway and Seven Hills Drive, just west of existing commercial facilities. This site is highly visible and centered in a high-end demographic profile of residents and business. Access to the region’s three major arterials provides convenience to a local and sub-regional market. Physically, the site enables tremendous unobstructed views of the Las Vegas Strip, valley and mountains.

“Architecturally, this project is quite different from The Clock Tower at Spanish Hills, which is cleaner and sleeker,” notes Tucker. “Seven Hills has more of a Southern California motif. It’s much busier and has more architectural detail.”

Access to and circulation within this development have been designed and refined through a comprehensive traffic study. The off-site circulation system relies on the proximity to the three adjacent major arterials for primary access and connection to the regional interstate highway system of I-215 and US 95. The Clock Tower at Seven Hills, like its sister project, The Clock Tower at Spanish Hills, will provide for mass- and para-transit access to the project and the site provides excellent pedestrian and bike connectivity opportunities.

Construction of the project will begin in May 2007. Completion of retail and restaurants is slated for fall 2008. The hotel will deliver by Summer 2009 and condos are expected to be complete by fall 2009.

Citation Property Group is a fully integrated property development company. Based in Queenstown, New Zealand, Citation Property Group has offices in London and the United States.


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