Retail for Our Neighborhood

Growth and Development of Silverado Ranch Picture is only simulation

In July of 2007 the United States Postal Office split our zip code. The Post Office does this when an area shows great potential for growth. Silverado Ranch is growing before our eyes. In fact, Silverado Ranch (zip codes 89123 and 89183) has more than tripled in the last decade. With the influx of new people to our immediate area we must have commercial development in order to support our way of life. One specific site for this type of growth is the vacant land east of Amigo Avenue and south of our local mine, Cactus Sand and Gravel. This 2.5 +/- acres lot is currently for sale for $2,750,000.

Roberts Hawaii Hotels Inc. purchased this vacant lot for $1,687,950 in July of 2005. According to Al Laird, a planner from Clark County Comprehensive Planning, “The land was re-zoned from R-E (2 homes per acre) to C-1 (local business district) on February 21, 2007.” Local Business District zoning allows for businesses that benefit a community, similar to P&R Retail-Shopping Plaza (Rhino Mart, Lefty’s Pizza, Bahay Kubo Asian Market, Kandy Kastle and others) near the intersection of Pollock Drive at Pyle Avenue. Laird went on the tell me, “Plans approved…by the Clark County Board of Commissioners…allowed for a 1-story, 35 foot high, 16,625 square-foot neighborhood shopping plaza.

On December 5, 2007, I spoke to Michael Sumiyoshi from Realty 7, the brokerage firm hired to sell the land. Sumiyoshi told me, “We have preliminary plans…for a retail strip center.” A few of the businesses that have submitted letters of intent include a liquor store, a nail saloon and an All-State insurance office. Also, IHOP has shown an interest in building a restaurant there.

Silverado Ranch is becoming a bustling suburb where Picture is only simulation

home values have seen some of the highest appreciation since the early part of the century. In 2005, some homes’ sale prices have more than doubled from when they were originally purchased in 2001 through 2003. Of course, our area has also witnessed some of the largest depreciation. For example, one home, that had been purchased from American West Homes on January 30, 2003, sold for $380,000. This magnificent home was then listed on December 12, 2004 for $679,900 and sold on April 1, 2005 for $619,500. On July 26, 2007 this home was listed again as repossessed and sold on September 24, 2007 for $495,000 with $5,000 going back to the buyer as a seller contribution. Silverado Ranch is located in an ideal location in our valley. Therefore, homes will hold their values. I am optimistic that the market will turn around, soon. How long? Only time will tell.