World Market Center to expand by 60% by 2015
Furniture/Today -- Home Accents Today, 4/1/2005
Las Vegas World Market Center officials announced plans in early April for an expanded campus comprising 12 million square feet of permanent and temporary showrooms dedicated to all segments of the home furnishings and hospitality contract industries. Original plans called for 7.5 million square feet of showrooms.
The new development will be constructed in eight phases on a 57-acre campus in Las Vegas, with a completion date of 2015. Phase One of the campus is fully leased and nearing completion, with the first Las Vegas Market to be held July 25–29.
"Our growth plans are the result of buyers' and exhibitors' avalanche of support for the Las Vegas Market," said co-managing partner Jack Kashani. "We continue to be approached by multiple segments of the industry and are continuing our efforts to address the needs and wants of the industry. Based on extensive input, we are certain a diversified mix of products located within a convenient, integrated campus represents the way of the future."
High Point officials were skeptical of the plans, saying it will take more than drawings and site plans to knock the International Home Furnishings Market off its perch as the world's largest furniture exhibition.
Officials said that while they are taking the threat from Las Vegas very seriously, they are not convinced that backers of that market can execute their ambitious plans, which call for 12 million square feet of showroom space to be constructed by 2015.
"It's one thing to announce plans. It's another thing to bring plans to fruition," said High Point Mayor Becky Smothers. "The proof will be in 10 to 12 years ... and our market will be stronger at that point too."
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