The Weekly / AUGUST 23 2022

Vegas Business Digest -

AUGUST 23 2022 / ISSUE NO. 38 / ARCHIVE

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This Week's Top Stories

ULI Nevada and Congresswoman Susie Lee Hosted Affordable Housing Roundtable

Last week, Urban Land Institute (ULI) Nevada district council and Congresswoman Susie Lee hosted a roundtable discussion addressing the critical needs of housing affordability in Southern Nevada. Participants were from the private, public, and nonprofit sectors who play a key role in development, architecture, planning, zoning, workforce development, and finance.

“As people migrate in search of jobs, education, and economic opportunities, the demand for housing in our most economically productive regions far exceeds the production of new homes. With 3.8 million homes short of meeting housing needs, double the number from 2012, the nation is in an extreme state of Housing Underproduction,” according to Up for Growth, a national data-driven research network.

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Cortez Masto and Water Authority Demands Urgent Federal Action to Address Drought in Southern Nevada

Photo from Office of Senator Cortez Masto

The U.S. Department of the Interior (DOI) recently announced that Nevada will face an 8% cut in its annual water allocation from the Colorado River for 2023. However, Nevada uses less water than it did 20 years ago as well as less than its current allotment from the Colorado River.

Therefore, U.S. Senator Catherine Cortez Masto and Southern Nevada Water Authority General Manager John Entsminger sent a letter and called on the administration to take significantly stronger federal action to ensure all states are contributing to water conservation along the Colorado River. More specifically, Cortez Masto demanded the administration to deliver a detailed, timely plan within 90 days to disburse the $4 billion in drought funding from the Inflation Reduction Act.

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Sneak Peek at Fontainebleau Las Vegas Retail Space

Courtesy of Fontainebleau Las Vegas

Fontainebleau Las Vegas has revealed the first details of its shopping district that will span 90,000 square feet and feature approximately 35 luxury retail concepts across two levels. The 67-story hotel consists of gaming, entertainment, and meeting space.

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$20 Million Restaurant to Open on Las Vegas Strip in Spring 2023

Courtesy of Ocean Prime Las Vegas by Cameron Mitchell Restaurants

Cameron Mitchell Restaurants’ (CMR) Ocean Prime brand has announced its first Las Vegas restaurant and 18th location on the Las Vegas Strip. CMR plans to invest early $20 million into this flagship, anchor restaurant in 63 located on the corner of Las Vegas Boulevard and Harmon Avenue.

Ocean Prime Las Vegas, totaling over 14,500 square-feet with a nearly 2,500 square-feet rooftop terrace, is scheduled to open in Spring 2023. Located on the fourth-story of 63, the restaurant will include over 400 seats, two bars, and three private dining rooms.

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Henderson Chamber to Host Annual State of the Chamber Address Luncheon on August 26

Courtesy of Henderson Chamber of Commerce

The Henderson Chamber of Commerce (HCC) will host its annual State of the Chamber Address on August 26th from 11:30am to 1:15pm at M Resort Spa Casino. The event will bring the business community together, reflect upon the accomplishments and challenges of the past year, and look ahead at moving the Southern Nevada community forward.

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