LAS VEGAS (FOX5) — Historic Commercial Center, once a hub of Las Vegas commerce in the 1960s and 70s, is on the cusp of a new chapter as new businesses move in and local officials weigh redevelopment options for the aging district near Maryland Parkway and Sahara Avenue.

FOX5 reporter Jaclyn Schultz has been following the area closely, tracking a series of updates as the county and local stakeholders work to determine what comes next.

MORE: Business owners call for continued progress at Historic Commercial Center

A number of small businesses call for continued progress to revamp and revitalize the Historic Commercial Center.

From heyday to hardship

Schultz said the center was once a destination for shopping, dining and live entertainment — including concerts by major acts.

“That used to be the spot in the 60s and 70s,” Schultz said. “You would go there, maybe get your hair done, then go shopping at a store, you could go see concerts there. It was like almost like a one-stop shop, and the parking lot used to be packed and full of people.”

Over time, the district declined. Clark County Commissioner Tick Segerblom, whose district includes the area, previously called it one of the most dangerous places in Clark County, citing homeless encampments and break-ins at stores and vehicles.

RELATED: Historic buildings at Commercial Center needs major facelift

One of the most pressing decisions facing the Center is the fate of Orleans Square, the oldest structure on the property, which was modeled after New Orleans and features architectural details reminiscent of the French Quarter.

Schultz said the cost gap between the two options is significant — but local businesses are pushing to preserve it.

“It will cost about $15 million to rehab it and $3 million to demo it,” Schultz said. “But all the locals and all the businesses are like, ‘We’ve got to save it. We tear down everything else in Vegas-keep this one.’”

The fate of Orleans Square has not been decided.

Redevelopment area status and new investment

The district has been designated a Clark County redevelopment area, meaning tax dollars generated by spending at local businesses can be reinvested back into improvements for the district. Local lawmakers are responsible for deciding how that money is used.

“After that giant building that’s being demolished now is finally going to get leveled, there’s going to be more live entertainment there, maybe live event spaces,” “And they’re hoping to partner with maybe a very big events partner to be able to bring more live events,” Schultz said.

New businesses are already moving in. Schultz said Arty’s Steakhouse– a restaurant with art and gaming, a new diner, a new Pilates studio and the return of the Lotus of Siam are among the recent additions.

Location seen as an advantage

Many artists look to Commercial Center as a potential creative hub, in part because rising rents have pushed artists out of the nearby Arts District.

“Artists are like, ‘We need a place to go,’” Schultz said. “The county has bought various buildings and spaces where there’s a hope for that. There’s hope for small business incubations, art installations, art incubators as well.”

Schultz noted that Commercial Center also holds cultural significance as an LGBTQ+ district in the Las Vegas area, with longstanding venues including The Badlands, still operating there. Liberace Avenue runs along the stretch, and Liberace himself was a fixture in the neighborhood.

Schultz said the district’s central location and its free parking give it an edge.

“There’s a hunger for different places to go,” Schultz said. “It’s just a matter of finding the direction and, as I’ve been talking with insiders, making sure there’s a clear plan of where things are going to go from here.”

Commissioner Segerblom has been a consistent source for Schultz’s coverage of the area. She described him as deeply invested in the district’s future.

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