Why Hsieh Bought Atomic Liquors' Land for $3.5 Million

Now we know why Tony Hsieh was so eager to buy the land and the building occupied by Atomic Liquors for $3.48 million.

Early days, but the first word on what will replace the empty parking lot adjacent to the venerable downtown drinking institution sounds like the possibility of more food and drinking destinations coming to Fremont East. Plus, new downtown denizens as customers.

The 1.36-acres of vacant lot will be turned into five floors of residential units looking down on the bar and the Western Hotel and Casino to its left, across from the Llama Lot parking lot and providing diagonal views to the under construction Venue of Vegas.

The 278 apartments will join seven live/work units and, as yet unspecified, 15,000 square feet of commercial space. That footprint for business opportunities compares with the 50,768-square-foot retail and dining center not far down Fremont at Fergusons Motel, also currently under construction.

The lots that make up this rectangular plot were acquired piecemeal by Zappos boss Tony Hsieh and his Downtown Project redevelopment team beginning in 2012 for a total of $9.475 million.

Earlier this month it was revealed Hsieh bought the Atomic Liquors land and building. The announcement caused a flurry of confusion and concern it meant the end of Atomic, but the bar announced it would continue with a 10-year lease, paying rent to the new Downtown Project landlords.
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