Urban Land Institute report on future of Apex Industrial Park
The Urban Land Institute’s report, “A Way Forward for Apex”, can be viewed here.
In 2016, Las Vegas Global Economic Alliance (LVGEA) and the City of North Las Vegas asked the Urban Land Institute (ULI) to assemble a Technical Assistance Panel, with the purpose of conducting a visioning process on the development of the Apex Industrial Park.
Key stakeholders—including landowners, business leaders, utility representatives and other government officials—were brought together to assess and set a vision for the future of Apex. The result was a panel report, “A Way Forward for Apex,” that was released on Tuesday, Feb. 15, outlining a five-year plan and new direction recommended for the industrial park.
With the opportunity to transition Apex from an industrial park to an innovation hub for the development, testing and manufacturing of high-tech mobility and transportation systems in mind, the ULI panel made assessments on five important areas: land use; mobility; workforce; sustainability and finance.
The ULI report was produced with support of LVGEA’s Research Center and coincides with a recent spike in the business attraction pipeline of manufacturing clients who want to do business in Southern Nevada.
“If we want these high-end jobs our region, we need to create the product companies are looking for, which includes having the right workforce and environment in place,” said LVGEA President and CEO Jonas Peterson. “The ULI report outlines steps to unlock the full potential of Apex, and its assessment will help the LVGEA in its efforts to recruit more businesses to the region.”
With a demand for large-scale industrial space in the valley, Apex has the potential to meet that demand and deliver product to new companies. Apex has the land capacity to support companies that would create 20,000 jobs and induce an additional 56,000 throughout the region.
Next steps for Apex involves a consolidated effort to foster a competitive advantage for next generation companies. Five bold moves are planned to be made in the next five years:
- Assembling a steering committee that represents at least 51 percent of the land area.
- Commissioning a feasibility study focusing on the form, function and financing of the Apex site.
- Developing a vision statement and common objectives that will guide the future development of Apex.
- Developing a comprehensive plan for the entire Apex site that incorporates plans for four elements—land, infrastructure, marketing and financing—with themes of innovation and sustainability integrated throughout.
- Having a Master Developer implement the comprehensive plan, as well as a portfolio of related projects.
Through analysis of the site and discussions with stakeholders, the ULI panel found that a site like Apex can create a manufacturing ecosystem and to create synergies across industry clusters, giving it the potential to become a platform for innovation and large-scale economic change in North Las Vegas.