The Business Journal A familiar 10-acre lot in Fresno is in the process of being developed into the city’s next major shopping district, with a luxury hotel at the heart of the project.
According to Edward Erganian, principal for Las Vegas-based NAC Development Co., the plan is to turn the long-vacant spot on the northwest corner of Blackstone and Shaw avenues into a major hub for retail, housing, hospitality, dining and entertainment.
The Erganian family has owned the property for several years, waiting for the right time to start building, and the Erganian says the time is fast approaching. Phase 1 on the Blackstone and Shaw project is expected to begin during the second quarter of 2021. The first stage of development will focus on an 8,000-square-foot, multi-tenant, mixed-use building, which they are expecting to come in at a cost of $300 per square foot.