Henderson Says No to Land Sale; Planned Resort Remains in Limbo

City officials in Henderson passed up on the opportunity to sell federal land to a developer willing to develop a hospitality project in the Las Vegas Valley. Reports indicate that a development team consisting of Kapelfre LLC and CKB Management Affiliates LLC, the latter being an entity controlled by known developer Raymond Shapiro, asked that a 9-acre piece of land be put up for auction during the fall of 2015. Local authorities have denied the sale of the property, with future selling prospects for the land currently being unclear.

Henderson officials have declined to sell nine acres of federally owned land near the M Resort that a development team is eyeing for a casino  and hotel project. The decision leaves the site’s future in limbo for the short term, although officials left the door open for a future sale.

According to the Las Vegas Review-Journal, a team of Kapelfre L.L.C. and CKB Management Affiliates L.L.C. asked that the parcel, which is owned by the Bureau of Land Management, be auctioned this coming fall. In turning down the request, Henderson’s Property Management Committee cited the proposal’s submission after the deadline for land sale applications and what officials considered insufficient detail.

Robert Shapiro, who controls CKB Management, has been interested in developing a resort for several years and owns a 16-acre site adjacent to the BLM parcel, the Las Vegas Sun has reported.

Henderson’s decision delays but by no means scuttles a potential project, the Journal-Review points out. CKB and Kapelfre could apply for an auction as early as 2016.  BLM’s most recent land sale, held last month, raked in $49 million.

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