It's not happening right now. I think the idea is to get the planning approved. Once that's done there is an unlimited time line to follow through. So it sits for ten years. The guy already owns the land. Housing prices go up. Homes get built. People buy them. It would be pretty sweet if you had the capital to sit on it till the "economic downturn" is over.
I'm just repeating what Jorge Urioste said to me. I assume he must have a good "feel" on the situation since he lives in Vegas.
As you probably know, Jorge and his wife put in many of the classics in RR.
Watch Las Vegas "grow" from space. This is a time lapse video from the Landsat satellites which have been in orbit, shooting pictures of the earth since the early 1970s. For land cover change geeks, it's been a consistent data source for decades.
Any of you folks who remember when Red Rock was still a ways out of town BITD will appreciate this.
Just a reminder that this world class climbing area will probably always be under threat of development.