Town Center FAQ

In February 2022 the City signed a letter of intent with KHJR Real Estate Advisors to develop the area along Jones Road south of US 290 that is currently in the TIRZ #2.

On November 21, 2022 the City Council authorized an updated Letter of Intent with KHJR Real Estate Advisors

Below are some Frequently Asked Questions on the project. 

Q: Who is KHJR?

A: KHJR Real Estate Advisors is a private investment platform focused on the Healthcare and Wellness real estate market dedicated to ground-up mixed-use development, adaptive reuse & monetization initiatives of owners/operators. 

KHJR was formed approximately 3 years ago by Gary Holland, Craig Johnson, Chris Kay and Chris Ridout.  Two of the founders, Gary Holland and Craig Johnson, came to KHJR as founders and developers of Union Village which is located in Henderson, Nevada.  Union Village is the world’s first fully integrated “smart city” and consists of multi-use developments within its approximately 150-acre borders.  Although a significant portion of this $1.3 billion development is healthcare related, Union Village does/will consist of hospitality, residential, retail and recreational elements as well.  Presently, Union Village is approximately 95% sold or in escrow.

 

Chris Kay has over 30 years of experience in master planning and project development on a national basis including, but not limited to, acting as a past president and COO of the Hammes Companies (“Hammes”), a national real estate consulting, development, investment and management firm.  Among other credentials, Hammes is recognized as the largest healthcare developer in the United States and has supervised and developed a number of large-scale master planned communities that surround healthcare and wellness related anchors.  Chris Kay also serves as an advisor to the board of directors of Jones Lang LaSalle (“JLL”), a leading worldwide provider of real estate and investment management services. 

 

Chris Rideout has been an attorney for in excess of 30 years and has a wide variety of experience in both transactional work and litigation, including having acted as corporate counsel for Union Village for approximately 7 years.

Learn more about KHJR from these documents. (Opens PDF Files)

 

Q. How long has KHJR been around?
A. KHJR was founded in 2019 by Gary Holland, Chris Kay, Craig Johnson and Chris Ridout. The common thread between the four founders is that they all worked on UnionVillage, the first Integrated Health Village in the United States, located in Henderson, NV.

 

Q. What developments have KHJR been a part of?

A. Gary Holland and Craig Johnson are two of the founders of UnionVillage (2011). Chris Kay, in his capacity of President of Hammes Companies, was intimately involved in the project as Hammes was a partner/investor. Chris Ridout has served as Corporate Council for UnionVillage for the past number of years. KHJR take over the remaining master developer duties at UnionVillage.

KHJR also has a consulting agreement with the city of Lancaster, CA to design and develop a 300-acre mixed-use district.

The individual members of KHJR have been a part of several other development projects around the county before KHJR was founded. 

 

Q. What has the City agreed to with KHJR so far?

A. The City has signed a Letter of Intent with KHJR. This is a nonbinding letter that lays the framework for future agreements. You can see the letter of intent here.

 

Q. What is being proposed for the development?

A. Some of the proposed uses include retail, restaurants, office space, residential, and medical facilities. A multi-purpose stadium has also been proposed.

 

Q. Why is the City considering a multi-purpose stadium?

A. Currently the City is looking to engage a company to do an independent  feasibility study on the stadium. This study would include a market assessment, financial analysis, and Economic and Fiscal Impact Analysis of the stadium.

The City has had conversations with an independent league baseball team and the developer about the possibility of a multi-purpose stadium as a part of this development. If a stadium were to be built it could be used by the baseball team during the season, but built to accommodate several other types of events such as soccer, rugby, football, concerts, high school and college sports, community events and more.

 

Q. What has the city spent on Town Center so far?

A. As of March 1, 2022, the City has not spent any money with KHJR. The City has committed to doing a feasibility study for the stadium currently estimated to be about $71,500.

 

Q. What future agreements would there be?

A. Some future agreements include a Master Development Agreement and a Chapter 380 Agreement. As of March 1, 2022 there is no timeline set for these agreements to be completed.

 

Q. What is the timeline for this development?

A. Currently the City and KHJR are working on a Master Development Agreement and Chapter 380 Agreement. Ground breaking is not yet scheduled.