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The History of Lake Las Vegas

Lake Las Vegas is a 3,600 acre Master plan community surrounding a 360 acre man-made lake with 10 miles of shoreline, located within 25 minutes of the Las Vegas strip.

 

The History of Lake Las Vegas

Actor J. Carlton Adair conceived Lake Las Vegas around 1967 as “Lake Adair.”  At the time he purchased the land and water rights.  In 1987, Ronald Boeddeker acquired 2,000 acres from the US Government when Adair went bankrupt.  The property was acquired by Transcontinental Properties in 1990.  That same year, 3 billion US gallons of water were diverted from nearby Lake Mead to fill the lake.  The lake was built on top of the Las Vegas Wash, which continues to flow under the lake in two 96 inch diameter pipes.  In 1995, Henry luck, the former chairman and chief executive officer of Caesars World, became the co-Chairman of Transcontinental Properties.  With Sid Bass and Lee Bass, two billionaires from Fort Worth, Texas, he developed the new community.  The project cost US $5 billion.

 

On July 28, 2008, Lake at Las Vegas Joint Venture, LLC filed for Chapter 11 bankruptcy.  Lake Las Vegas emerged from bankruptcy in July 2010 with a plan that took nearly two years to complete.  All existing debt was wiped away and the development had $30 million in hand to complete several of the unfinished infrastructure projects.

 

In 2012, John Paulson purchased 835 acres for $17.3 million from Highland Capital and Credit Suisse.  Paulson invested more than $50 million upgrading Lake Las Vegas.  The development includes a beautiful village and the South West end of the lake with restaurants and retail.  The Westin and Hilton Hotels offer luxury accommodations and fine dining.  Real Estate offerings include Waterfront homes and Homesites, twelve active new home communities and many resale homes.  Lake activities start at the village and include all non-gas powered fun; paddle boarding, kayaking, electric boats and swimming.  There are two golf courses; both Jack Nicklaus signature courses.  A new Sports Club located off of Lake Las Vegas Parkway includes pools, fitness classes, Tennis courts, Fitness facilities, Pickle Ball and a Members Lounge.

Posted on November 3, 2020 at 7:10 pm
Robyn Yates (Gajjar) | Category: Uncategorized | Tagged , ,

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