The Montecito Companies Unveils Plans for It's Town Center Development

MassMedia|Vanguard Public Relations & Advertising

Montecito Companies announced today its plans for the 200-acre Montecito Town Center project that at build-out will include approximately 10 million square-feet of retail, office, medical, residential and entertainment uses. Additional development plans in the area from the City of Las Vegas include 60-acres of upscale residential and more than 100-acres of parks and civic centers.

With a unique mixed-use design that incorporates main street concepts with office centers, retail destinations, entertainment complexes, and a regional mall, Montecito's Town Center will become the new "center" of Las Vegas where more than 650,000 residents will be within a 10 minute drive-time of the site. The Montecito Town Center will be located in the Northwest Master Plan of Las Vegas at Durango Road, U.S. 95 and I-215 Beltway.

"We believe we have the perfect location in which to build a truly cohesive and thoughtfully planned destination for all of Las Vegas to enjoy," Schulman said. "The project will become a new place to live, work and play."

Renowned land planning and architecture firm RTKL & Associated Inc., designers of such Town Center projects as the Galleria in Houston, Texas, Fashion Island in Newport Beach, Calif., Westlake Village in Ventura, Calif. and Reston Town Center in Reston, Virginia, have spearheaded the architecture and design for Montecito Companies.

"We envision major courtyards and landscaped pathways in pedestrian-friendly and mixed-use areas," Schulman said. "The courtyards will make an attractive setting for major restaurants and boutique retailers that will be located next to each other in a centralized location."

The Montecito Companies is an umbrella organization headed by Schulman and President Frank Nielsen, who together have developed more than $750 million in real estate projects over the past 30 years in both Nevada and California. The two developed such landmark properties in Las Vegas as Alexis Park Hotel, the first major non-gaming hotel in Las Vegas, and Citibank Park, the first major mixed-use development. Schulman also pioneered the upscale residential condominium concept with The Palisades in Pacific Palisades, California.