$14M owed to contractors for Downtown Henderson high-rise – KLAS – 8 News Now

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LAS VEGAS (KLAS) – Downtown Henderson business owners have not seen builders at The Watermark in over a month, and county documents point to a possible reason why.

Henderson residents and business owners reached out to 8 News Now to learn more about The Watermark’s property owner, Strada Development Group, and to find an explanation as to what caused the high rise to empty.

8 News Now reached out to Strada by email and over the phone but had not heard back as of Tuesday evening on a status update for the property and its estimated completion date.

Strada Development Group (KLAS)

Documents requested from the Clark County Recorder’s Office show a possible cause.

Over the past four months, 17 liens have been filed on the parcel where The Watermark stands, totaling $14.5 million owed to nine contractors.

Two of the liens filed by Gillett Construction, the company that has since removed company fence banners from the property, total $11.5 million owed.

Downtown Henderson business owners who spoke with 8 News Now expressed shock about the amount, but said they hoped The Watermark still finds a way to completion—for the good of the community.

Multiple ongoing projects

Three Downtown Henderson projects by Strada Development Group are still ongoing with a total budget of $252.2 million, according to the company’s website.

The 22-story Waterfalls apartment and hotel complex on Water Street and Lake Mead Parkway is estimated to be completed in the third quarter of 2025 but nothing appears to have been done with the property.

Local business across the street from the Waterfalls said they saw construction crews several months ago walk the property and take pictures but nothing else has changed and expressed doubt that a 22-story building would be done by the estimated deadline.

The 22-story Waterfalls apartment and hotel complex on Water Street and Lake Mead Parkway is estimated to be completed in the third quarter of 2025. (Waterfalls concept art, Credit: Strada Development Group)

The Atlantic, a mixed-use development, is planned for the Henderson Gateway District with an estimated completion date in the third quarter of 2024.

8 News Now asked the City of Henderson if city staff plan to check in with the property owners. A city spokesperson said, “We have had and will continue to have meetings with Strada Development regarding their project.”

Past revitalization efforts for Water Street have been successful such as 314-326 South Water Street, which houses Public Works and Azzurra Cucina Italiana, and the America First Center, formerly the Lifeguard Arena, which acts as a benchmark for the community and hockey-related events.

Gillett Construction and Strada Development Group have not yet responded to requests for comment on the status of the development.

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