In 2013, Zappos CEO Tony Hsieh embarked on a $350 million plan to turn Las Vegas into the “coworking and colearning capital of the world.” He bought about 60 acres of land in the city’s beleaguered downtown, invested $50 million in small businesses incubators and $50 million in arts organizations, and hoped that the extra money would transform Vegas into the Silicon Valley of Nevada.
Size of development:
Number of Units:
15 tiny houses and airstreams, seven micro apartments
Number of Residents:
6 to 45
Cost of Living:
$1,200 a month
Average Size of a Unit:
Studios: 500 square feet; tiny houses and Airstreams: 200 to 250 square feet
So far, the rate of return on his investments—collectively called the Downtown Project— hasn’t reached the scale of his ambition. The most notable successes are the Life Is Beautiful music festival—which accounts for $77.7 million of the Downtown Project’s $86.6 million economic output and 64 percent of its job creation—and a community of tiny houses, Airstreams, and micro apartments called Private Residential at Ferguson’s Downtown.
Built on the site of a former motel, the development has attracted an eccentric mix of young residents, including musicians, Zappos employees (Hsieh lives there), families, and entrepreneurs.
Ferguson’s Downtown is a microcosm of the larger community Hsieh envisioned, and it’s all anchored by tiny houses: