City officials will weigh three proposals to develop 279 acres near the future home of the NFL’s Raiders. The land, which has a market value of nearly $27.4 million, is located south of the intersection of Via Inspirada and Volunteer Boulevard.
“We’ve been in a good economic cycle, investments are being made by the development community as well as end users, and so there was an interest in this property because it’s greatly positioned for success when you’re looking at employment and logistics and transportation,” said Barbra Coffee, the city’s director of economic development and tourism.
Two companies, MatterPanattoni and PEGH Investments, offered the market-value price for the land, but one company, Scannell, offered nearly $39.5 million for the property. All three companies have plans to develop the area for industrial use.
Henderson stands to gain nothing from merely accepting the highest bid because the city controls the land for development only. Money from the sale of the land will go back to the federal government, Coffee said. The city will benefit from the economic impact of development in the form of employment and tax revenue.
Coffee said city leaders have made a push to diversify Henderson’s economy with high-paying jobs, and development of the west side of the city creates an opportunity to delve into the industrial sector. Overall plans for west Henderson include a mix of residential, commercial and industrial development.
Regardless of which developer the council selects, Coffee expects the project will bring more than 4,000 jobs.