Thursday, October 2, 2014

Where Tony has failed in Downtown Las Vegas, Developers need to succeed!

I have said several times that a corporate town is doomed for failure.

Unfortunately for Tony Hsieh, it happened sooner than even I expected.  Recent news stories have told the tale of Tony stepping down from the Downtown Redevelopment Project and the subsequent layoffs of about 10% of their staff.

One of the proponents of the project was a former professor who moved to Las Vegas a few years ago to be a part of this development.

Thus, in an open letter to the Las Vegas Weekly, the former professor states that the lack of a plan was the point of undoing to the project's failure.  Apparently, there was no "North Star" to help guide the progress.

Which now is verifying everything I had been hearing about the project.  I have continually stated that more developers were needed to help this project along.  More residential, more office and retail has to go in, in order to bring the correct demographic to Downtown Las Vegas to make this viable.

Since Tony had no direction and the City kept saying to my sources he didn't have a plan, I am NOT surprised at this failure.

IF Tony had brought in developers from the beginning and encouraged their input, things could be different.

With the development of new projects, the city may have had more to Downtown than hotel casinos.  I am talking the return of high paying jobs that are the major component of most "Hub" cities such as Phoenix, Los Angles, San Diego, San Francisco, etc.

Without these high paying jobs, Downtown Project's lack of vision was going to end up a train-wreck -- which is what has happened.

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.