Fascinating. Can’t wait to see how this turns out!
Tony Hsieh, the soft-spoken chief executive officer of shoe and apparel site Zappos.com (a division of Amazon.com) (AMZN) wants to turn the often overlooked and economically depressed downtown area into a dense urban neighborhood teeming with artists, entrepreneurs, and Internet workers. It’s one of the most unconventional redevelopment efforts in any American city, ever. Instead of soliciting public funds, Hsieh is spending $350 million of his own money to buy empty lots, seed new businesses, and subsidize schools. Next year he’ll move his company’s 1,400 local employees from suburban offices into the 11-story former City Hall (complete with jail cells on the second floor that may become meeting rooms). “What started out as a campus relocation project has evolved into a project to revitalize downtown Vegas,” Hsieh says.
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