Pacific Group (“Pacific”) and the City of North Las Vegas (“City”) are pleased to announce the approval of a development agreement for a premier, medical destination campus for mixed commercial use, including healthcare, research, and business facilities on the 135-acre Job Creation Zone located at Pecos and Clark County 215 across from the VA Hospital in the City of North Las Vegas.
Conceptual rendering showing a potential streetscape for the Job Creation Zone medical campusOver the next 5-10 years, the project is anticipated to include over 700 medical facilities beds, more than 2 million square feet of medical office and technology research space, over 250 hotel rooms, multiple restaurants, and 500,000 square feet of retail space, representing an overall investment of up to $5 billion.
The Pacific Group collaborated with City of North Las Vegas officials to make the project a reality, as well as the Governor’s Office of Economic Development, VA hospital leadership, existing healthcare providers, Nevada’s higher education system leaders, Las Vegas Global Economic Alliance, and additional community partners to create its vision for the JCZ Project.
Pacific and the City executed a purchase agreement on March 3, 2022 and a development agreement was approved by the City Council on April 20. With City Council approval, Pacific intends to begin preliminary development immediately.
“Pacific is pleased to be selected to develop and build a premium, medical destination complex for the residents of the City of North Las Vegas and the broader Southern Nevada community,” said Douglas Anderson, Chairman of Pacific. “Pacific appreciates the City’s swift and diligent negotiations on the agreements to execute the land purchase and project development, which should allow Pacific to break ground in the fall.”
“After working extensively with our Federal Delegation to establish a Job Creation Zone as part of the Public Land Act in 2014, we intended for this property to be used to develop world-class medical care and research facilities while bringing jobs of the future to our City, and this project is what we envisioned,” North Las Vegas Mayor John Lee said. “Pacific sees our vision, and this project is a game-changer that will cement North Las Vegas as a destination for quality medical care, research and development, and jobs.”
For more information on the JCZ project, visit www.pacific-group.com.
Original source can be found here.
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