Zappos CEO Tony Hsieh is spending $350 million of his own money
to revitalize downtown Las Vegas.
Click here to see his big investments >
It started with the idea to move Zappos' corporate headquarters from suburban Henderson, NV, into the old City Hall in Vegas — the full transition will happen next fall, costing $40 million —but turned into a much bigger vision.
Hsieh is investing $200 million into real estate and residential properties, $50 million into tech startups, $50 million into small businesses, and $50 million into arts, education and culture.
Essentially, he wants to create one of the world's next greatest cities.
We recently spent a week in downtown Las Vegas with Hsieh and his colleagues at Downtown Project— the organization that is managing the investments — and we were impressed by what we saw.
HE'S INVESTING $200 MILLION ON REAL ESTATE AND RESIDENTIAL PROPERTIES
Aimee Groth, Business Insider
Primarily in the Fremont East District, which is about two miles from the Strip.
Aimee Groth, Business Insider
The white building on the right is City Hall, where Zappos is moving its corporate headquarters in Fall 2013.
Aimee Groth, Business Insider
Hsieh is redeveloping the land directly surrounding City Hall, and several blocks beyond.
Aimee Groth, Business Insider
A few blocks away is the Ogden, the luxury apartment complex where Hsieh and many Downtown Project employees live.
Aimee Groth, Business Insider
His apartment is actually three apartments combined.
Aimee Groth, Business Insider
And includes this jungle-themed party room.
Aimee Groth, Business Insider
He often hosts parties at his place, for Downtown Project and Zappos employees, and guests from around the world.
Aimee Groth, Business Insider
He has several maps in his apartment that he uses to strategize his investments.
Aimee Groth, Business Insider
One of his walls is filled with Post-It notes marked up with ideas for downtown Vegas. That's Zach Ware, who's in charge of the $40 million renovation of City Hall.
Aimee Groth, Business Insider
There are more ideas on the windows.
Aimee Groth, Business Insider
Hsieh also hosts guests in one of the 40 apartments he rents at the Ogden. Here's a view of one of the "crash pads."
Aimee Groth, Business Insider
Last month Hsieh bought a $1.4 million, 12,000-sq. ft. house nearby, which he'll use to host parties as well.
Aimee Groth, Business Insider
This is the front entrance.
Aimee Groth, Business Insider
And the pool house.
Aimee Groth, Business Insider
Developer Andrew Donner, in white, handles most of the real estate transactions for Downtown Project. Sandi Herrera, next to Hsieh, worked on the $1.4 million deal.
Aimee Groth, Business Insider
HE'S INVESTING $50 MILLION INTO TECH STARTUPS
Aimee Groth, Business Insider
Andy White, far right, heads up the Las Vegas Tech Fund.
Aimee Groth, Business Insider
Many of the startup founders, including Amy Jo Martin of Digital Royalty, live and work in the Ogden.
Aimee Groth, Business Insider
Robotics startup Romotive was one of the first to move in.
Aimee Groth, Business Insider
Next to Hsieh here is Frank Gruber of Tech Cocktail, another startup he's investing in.
Aimee Groth, Business Insider
Hsieh recently invested $500,000 into Rumgr, founded by Dylan Bathurst and Ray Morgan.
Aimee Groth, Business Insider
The Las Vegas tech community gets together every Thursday evening for pitches and just hanging out.
Aimee Groth, Business Insider
HE'S INVESTING $50 MILLION IN SMALL BUSINESSES
Aimee Groth, Business Insider
Sarah Nisperos owns Coterie, a clothing store that just opened on Fremont Street.
Aimee Groth, Business Insider
She is leaving the old signage, "Checks Cashed," because it has a retro vibe.
Aimee Groth, Business Insider
Michael Cornthwaite, second from right, owns Downtown Cocktail Room and The Beat Coffeehouse. He's a huge reason why Hsieh is investing in downtown Vegas.
Aimee Groth, Business Insider
Container Park, an open space surrounded by retailers and other small businesses, is a big part of the plan.
Aimee Groth, Business Insider
HE'S INVESTING $50 MILLION IN ARTS, EDUCATION AND CULTURE
Aimee Groth, Business Insider
Downtown Project bought the rights to First Friday, a huge arts festival that attracts thousands of Las Vegans.
Aimee Groth, Business Insider
Hsieh meets regularly with his First Friday team. To his left is Fred Mossler, a Sr. VP with Zappos.
Aimee Groth, Business Insider
There's Fred again, at First Friday with his fiancée Megan Boyd, who heads up the Las Vegas Fashion Lab.
Aimee Groth, Business Insider
But Hsieh is just getting started.
Aimee Groth, Business Insider
Now see the big presentation Hsieh gave in New York City
Aimee Groth, Business Insider
Tony Hsieh's PowerPoint Presentation On His $350 Million Investment >
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Tags: Tony Hsieh, Zappos, Zappos.com, Las Vegas, Downtown Las Vegas, Downtown Project, Andrew Donner, Fred Mossler , Real Estate, Tech Spending, Las Vegas Tech Scene, Real estate market, Real Estate Crash, Real estate bubble, Features | Get Alerts for these topics »
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