Investors hope to create gay neighborhood in Las Vegas

ImageIs a “gayborhood” the next development for downtown Las Vegas?

Maybe.

Investors are pooling their money to buy swaths of property downtown in the hopes of creating an affordable gay neighborhood.

Realtor Jack Levine is one of about four investors. He said lawyers are poring over legal documents this week to form a corporation, and the group hopes to start buying property soon. He would not specify where they are looking.

“I think it needs to be walkable but further from the Arts District or Fremont Street,” said Levine, who has lived downtown since 1985. “Walkability is a big part of it.”

If a gayborhood does spring up downtown, it likely will be a good thing for the entire area, experts who study urban livability said. Many gay couples don’t have children, so they have more expendable income to improve their properties, increasing the value of other land nearby.

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