Las Vegas' 'Evangelical Urbanist' Steps Down From Bleeding Downtown Project

Zappos CEO and "evangelical urbanist" Tony Hsieh has stepped down from his role as leader of Las Vegas' Downtown Project, and 30 additional staff members were laid off yesterday. A statement explains the cuts as an aim to "restructure ... operations and focus on follow-on investments."

Seeded by Hsieh's own $350 million, the Downtown Project is a redevelopment group aimed at turning Las Vegas' off-strip urban core into a kind of alt-wonderland. Since 2012, "DTP," as it's known to insiders, has purchased some 60 acres of property in the area, funding restaurants, bars, shops, bakeries, a record store, a hardware hacking center, and a $40 million outdoor mall built from shipping containers. A source close to the project told Re/Code that many of these new businesses were "bleeding money."