Molasky in spotlight

Think of Las Vegas landmarks such as the downtown Bank of America Plaza, Sunrise Hospital Medical Center, University of Nevada, Las Vegas, and Park Towers at Hughes Center, and you'll have come up with a small part of developer Irwin Molasky's resumé. His local real estate accomplishments span nearly 50 years, and last Wednesday night, the Lied Institute for Real Estate Studies recognized them.

Before a crowd of about 180 people at Piero's Restaurant during a ceremonial dinner and reception, Molasky became the second recipient of the Lieder award, an honor conceived last year by the institute. Although the devel- oper/horse owner/television and movie producer has been acknowledged for other accomplishments over time, he considered the Lieder designation a special addition to his trophy case.

"I'd have to rank it right up at the top," Molasky said of the award. "It's coming from a university I love and admire. It's not just a professional award, it's given by not only your peers but by the teachers of real estate. I'd have to rank it right up at the top."

Molasky addressed the assembled group of friends, family and colleagues, including Robert Lewis, last year's recipient of the Lieder award, with a collection of one-liners, anecdotes and words of appreciation, citing the Lied Institute's importance to the community. Also coming to the podium were Molasky's son Steven; longtime partner and developing mogul Steve Wynn; and Hank Gordon, president of Laurich Properties and emcee of the event.

"I think it's a fantastic honor," said Gordon, who has known Molasky for 10 years. "When I was called as part of the board of directors of the Lied Institute for Real Estate Studies, I was asked, `Who would you recommend for this year?' And I could only think of one real estate icon in town and that is Irwin Molasky."

Members of an executive committee from the institute nominated other individuals besides Molasky, but their vote was unanimous during the selection process, according to Debra March, executive director of the institute.

Molasky's local contributions have generally spoken for themselves. But March put the matter in perspective, saying that Molasky has "changed the face of real estate" in the Las Vegas Valley.

"Locations all over the valley have had Irwin Molasky's hand in them -- he's developed projects that are very significant," March said. "He's clearly left his mark all over the valley."

March noted that the only change over last year's Lieder award was the venue. In this case, she referred to Piero's as Molasky's "favorite." Coinci- dentally, it is located next to Park Towers, one of Molasky's latest and most significant developments.

The twin-tower, luxury condominium high-rise could be characteristic of Molasky's local structures, since most tend to be innovative, experimental or elaborate in their design. His downtown Bank of America Plaza may be another example, with its futuristic, million-dollar elevator system.

Other notables for Molasky include his building of the Boulevard Mall and Sunrise Hospital, the valley's first modern private hospital. He has also been active in developing "power centers," such as The Best in the West shopping center, located at Lake Mead and Rainbow boulevards. Currently, he has one "on the drawing board" at Flamingo Road and Grand Canyon Drive. Molasky also expressed his excitement about working with Wynn on the upcoming replacement for the Desert Inn.

Molasky wouldn't disclose details about the project, but he did say, "It's going to knock your socks off."

March also mentioned how Molasky is often referred to as a community leader, as well as being a family man, saying the Lieder award considers "all aspects" of the honoree. But naturally, Molasky's real estate legacy was the deciding factor. March said the institute is proud to honor him, describing him as a "man with vision" who has changed the face of Southern Nevada.

"Las Vegas is experiencing immigration of about 80,000 people a year," Molasky said. "Our construction and we, as a company, have tried to provide for those people for 50 years. We've tried to take care of that growth factor. I think the Lieder award is an appreciation of those efforts, and for that we are very grateful."

Real Estate home