LAS VEGAS (KTNV) — The Arts District in Las Vegas has long been a vibrant, eclectic hub for creativity. Many locals consider it a place where local businesses and artists breathed life into what was once a forgotten part of downtown.
Today, however, the thriving community is facing a looming question: Is it being priced out of existence? Meowton, owner of Sinwave, would say "yes."
“I think just the overhead was a lot for us. We wanted to be like your friendly neighborhood venue and I honestly thought the Arts District seemed like the perfect place for that,” he said.
Just this week, the venue permanently closed its doors. Meowton said the reason was because of the skyrocketing rent. He paid $15,000 a month for his location on Main Street.
The transformation in the area is undeniable. High-end apartment buildings and more upscale retail spaces have popped up in recent years. Despite some changes to its original, unique vibe, the trend is clear — people still love it.
“There’s great food, great shopping,” one person told us.
“There’s always something to do. There’s always something going on,” said Victor Aguirre, who recently moved to the area.
“I love the cool stores and the murals,” said Annie Kaplan, who was visiting the Arts District for the first time.
Over time, that pulse has slowly started to fade. While visitors still appreciate the area's vibrancy, many local business owners are feeling the squeeze.
“I love it down here. We are a community. All of the business owners get along well and we help each other but sometimes things can get out of hand with rent,” said John Tovar, owner of Reclaim Las Vegas, which recently opened in November of 2024.
According to Colliers International, an investment management company, the average asking rent for retail space in downtown Las Vegas, which includes the Arts District, has increased by nearly 70% over the last five years.
At one point in 2024, the cost per square foot was sitting at $2.13.
“In any scenario like rent increasing is inevitable but I wish there was something that the city could do to help out businesses that they could stay,” Kaplan said.
So, the question now becomes: Will the heart of the Arts District — the very thing that drew people here in the first place — be the next to disappear?
