Las Vegas apartment complex, backed by late Tony Hsieh, has new name

After changing hands earlier this year, a downtown Las Vegas apartment complex backed by the late Tony Hsieh has a new name.

Fremont9 was referred to as Ely in Fremont. The five-story building has Ely signage on the outside, and landlord The Calida Group will hold a ribbon-cutting ceremony on Thursday.

The property is “truly one of a kind” and offers renters a “walkable, urban lifestyle that someone living in a big city would seek,” said Doug Eisner, Calida co-founder, in a press release.

Southern Nevada has seen a surge in residential construction in recent years, with Calida among the largest developers. New projects have focused heavily on the suburban outer rings.

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Fremont9 was part of a small but growing group of rental developments in the metropolitan area and was the first major new apartment complex on Fremont Street in years.

Located on the corner of Fremont Street and Ninth Street next to Atomic Liquors, Ely on Fremont features a fitness center, yoga and spinning studio, courtyard with bocce ball and fire pits, media lounge, and other amenities.

The complex opened in 2018 and was developed through a partnership between The Wolff Co., an Arizona-based housing developer, and Hsieh’s subsidiary DTP Companies.

Hsieh, the former CEO of online shoe retailer Zappos and the face of downtown Las Vegas’ revitalization, died on November 27, 2020 at the age of 46 from complications caused by a house fire in Connecticut.

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He had moved Zappos from a Henderson office park to the former Las Vegas City Hall in 2013 and invested heavily in Fremont Street through his $350 million subsidiary, originally called Downtown Project.

He funded bars, restaurants, and tech startups, and became one of the largest downtown real estate owners, buying up apartment complexes, office buildings, and other properties.

He left no will, and as part of his probate proceedings, Hsieh’s family filed more than 100 notices for the sale of his Las Vegas properties in Clark County District Court in a two-day period in February 2021.

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Fremont9 was not among them, records showed.

Calida bought the upscale rental complex in February for $80 million.

At the time, Eisner said the 232-unit property was about 90 percent occupied, would be rebranded as Ely on Fremont, and would have ground floor retail space that had never been rented and was intended to serve as residential units.

Contact Eli Segall at [email protected] or 702-383-0342. consequences @eli_segall on twitter.

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