UNLV has proposed entering into a 99-year ground lease for 42 acres it owns near the Las Vegas Strip that could generate over $1 billion in revenue for the university.
The university has asked the Nevada Board of Regents to approve the lease with G2 Capital Development for 42 acres of undeveloped land located just north of the Harry Reid International Airport near the intersection of Tropicana Avenue and Koval Lane.
The lease agreement would allow G2 Capital Development to create a mixed-use project on the land, according to documents filed with the Board of Regents. No details on the development were included in the documents, and the developer also declined to comment on the proposed plans.
