Las Vegas is booming with activity! And what a year 2020 will prove to be for the valley. Billions of dollars are being invested in the local economy in the form of new construction with millions in residual income from these projects. What upcoming projects are shaping and in the works?
ALLEGIANT STADIUM (nearly a 2 billion dollar project)
Allegiant stadium is only a few short months away from completion and from hosting the Las Vegas Raiders. The state of the art design and features make it a sight to behold and add to the steep price tag.
A new mixed use project which will include a 12 screen movie theater, restaurants and entertainment across from IKEA will be the largest development in the area and add a much needed venue in the Southwest.
A new hotel being developed downtown is taking shape and is scheduled to be open this year. It will feature 777 rooms, a rooftop pool amphitheater and new food and beverage concepts. It is the first hotel to be constructed in many years in the downtown area, adding excitement and an economic boost to the area.
LAS VEGAS CONVENTION CENTER
The Las Vegas Convention Center, one of the most popular convention spaces in the world which hosts a number of world famous expo’s and conventions such as CES, is adding 1.4 million square feet of convention space and renovating the existing 3.2 million square feet. The budget is nearly 1.5 billion dollars! Additionally, an underground people mover being developed by The Boring Company, owned by Elon Musk, will transport people between 3 locations across the convention center.
The Madison Square Garden Sphere, being built right next to the Venetian, will feature 17, 500 seats and a state of the art entertainment experience. A 160,000 sqft screen will encompass the arena which will be complemented with a infra sound haptic system, making for an unforgettable experience for those that attend the venue.
VIRGIN HOTEL & CASINO
With the closure of the Hard Rock Hotel, Virgin plans to revitalize the hotel and concept and feature a new, modern look at the site.
Additionally, other projects are taking shape which we will discuss next week! Stay tuned.
Contributed by Nicklin Property Management.