There is over $20 billion dollars in investments with these major projects happening in Las Vegas and Henderson right now! Now is your time to get your piece of Las Vegas real estate! I have lived here for over 18 years and I have been a realtor for over 14 years and I would be happy to share my knowledge and negotiating skills with you if you are thinking of buying or selling. Contact me and we can discuss the market and how it affects you.
MSG Sphere (Madison Square Garden) This futuristic venue is scheduled to open in late 2020 on Sands Avenue between Manhattan Street and Koval Lane. The plans are to build a 360 foot-tall, 500-foot-wide, 18,000-seat spherical arena. A pedestrian bridge will connect the new venue to The Venetian and The Palazzo complex. A groundbreaking is set for June 2018. The arena will feature a programmable exterior with more than 36 miles of LED lights and a 250 million-pixel interior screen with a 19,000 by 13,500 resolution, making it the largest, highest-definition screen on Earth, according to MSG. The venue will be able to host events ranging from immersive shows and e-sports to some live professional sports events.
Wynn’s Paradise Park was first announced in 2016. Construction is scheduled to ramp up in the spring 2018 and is expected to open in about three years. When complete, Paradise Park would have a lagoon, boardwalk, new convention space and food services. Wynn Resorts is considering $1.5 Billion investment to include a 1,000-room expansion at its Strip property centered around a 38-acre lagoon that would host water skiing, paddle boarding and parasailing by day and fireworks displays at night. This amazing dream is scheduled to be completed by 2020 at the same time as the Raiders stadium and Resorts World.
Resorts World was set to open in 2016 but had its opening date pushed back to 2020. The resort, which would cater to Chinese tourism, would be located at 3000 S. Las Vegas Boulevard. $7 Billion dollars, give or take a billion is the projected spend on this project. This may be the largest and most massive resort casino to be constructed in Las Vegas history. The completed 21,847,314-square-foot project will include 4 towers totaling 6,583 rooms with 175,000-square-foot casino. This will include a 4,000-seat theater, retail, dining and convention space. The “extras” which can change during the development include a rooftop sky park and observation deck, Aquarium, Ice skating rink, Indoor water park and a Panda exhibit.
The Bend This is a retail, dining, and office project with a movie theater and is planned across the street from IKEA – near Sunset Road and Durango Drive. The southwest Las Vegas project, called The Bend. Anchored by a 73,000 square-foot, 13-screen Galaxy Theaters, an early leasing brochure lists SkinnyFats joining Johnny Rockets as a casual dining options. Talks are currently underway with VegeNation, Pizza Rock, wine bar Bin 702, coffee roaster Vesta, and Henderson’s Great Greek Mediterranean. There is also negotiations fort beer favorite Aces & Ales to build a full brewery and Lotus of Siam could also open at the complex. An opening date has not been announced
NFL Football Raiders Stadium This 62-acre stadium site that is the future home of the Raiders and the UNLV football team broke ground at its location near Russell Road and Dean Martin Drive in November 2017. It is projected to open in the summer of 2020. The site cost $77.5 million to acquire. The Raiders will continue to play at in Oakland stadium through the 2019 season and are expected to move into their new stadium in Las Vegas for the 2020 NFL season. This Massive 65,000-seat stadium will be located adjacent to Interstate-15 and will be connected to the city’s expanding monorail system once it is built out to Mandalay Bay in the coming years. The monorail will not only make it easy for Visitors to simply arrive at the stadium from the southern strip hotels. Las Vegas residents who own some of the Las Vegas high rise condos such as VEER, Mandarin, Panorama, Martin or MGM Signature condos already have the monorail outside their door.
West Henderson Land Use The area referred to as West Henderson is mostly vacant land and is generally bound by Las Vegas Blvd. to the west, St. Rose Pkwy to the north, the master-planned communities of Seven Hills and Anthem to the east and Sloan Canyon to south. The West Henderson project will facilitate diverse economic opportunities, generating a strong economic hub and increasing the city’s overall job-to-housing balance. It will supply a range of high quality housing, a well-connected transportation and infrastructure, and a safe inter-connected system of parks, trails, and open spaces for education and recreation.
Fremont Street Experience renovation LVCVA approved a large-scale renovation to downtown Las Vegas. The $30 million project will completely renovate the Fremont Street Experience. Approximately $9.5 million of that money will go into renovating the 1,500foot long video canopy attraction. This is the first time it’ll be renovated in 14 years. The city plans to add four-times the number of LED screens on the canopy, making it seven times brighter so that the video display can run 24-7. The $30 million project will be split three ways between the LVCVA, the city, and the Fremont Street Experience. The renovations will take place over 14 months.
Kind Heaven at The LINQ Promenade will offer Southeast Asian culture, music, food, danger, fashion, exoticism, exploration, mystery and spiritual enlightenment. Featuring a soundscape curated by Perry Farrell (front man for Jane’s Addiction and creator of Lollapalooza), Kind Heaven will provide a variety of experiences, from dark and mysterious back alleys to a Forest Temple and Sanctuary. Ferrell describes Kind Heaven as an immersive entertainment complex. It doesn’t have chairs like a traditional theater. It will have stages within the complex for music and other types of entertainment, but you’re basically walking through a 90-minute show routed in mythology. When you’re within the complex, you’re free to roam around and discover hidden alleyways, visit nightclubs and eat from Hong Kong-style street food vendors. There will be improvisational actors, musicians, acrobats and comedians, combining elements of sensuality and espionage into an experience that will be a first of its kind. Kind Heaven will be family friendly by day and adult at night. It is scheduled to open in 2019.
Symphony Park Las Vegas sold a five-acre parcel in the city-owned downtown Symphony Park for $4.25 million to SLC Development, Inc. The Nashville-based company wants to build more than 300 residential apartments and 20,000square-feet of retail space across from the Smith Center for the Performing Arts. Background: Marked by two iconic anchors — a $550 million performing arts center campus and an $82.5 million private medical and research facility. This 61acre infill parcel in the heart of the city first came to life in 2009 with the opening of the Cleveland Clinic Lou Ruvo Center for Brain Health and the 2012 opening of The Smith Center for the Performing Arts. Symphony Park is surrounded by the valley’s second largest employment center comprised of multiple downtown hotelcasinos; major entertainment attractions and museums that make up downtown’s vibrant tourist economy; Las Vegas Premium Outlets North, one of the country’s most successful outlet shopping malls; World Market Center Las Vegas, a five million-square-foot showcase for the home and hospitality contract furnishings industry; headquarters of Zappos.com; federal courthouses and multiple legal offices; office towers and more.
Monorail Extension The Las Vegas Monorail will extend the line from MGM Grand to Mandalay Bay. The plan is to have the track go over Tropicana Blvd., turn west and go over The Strip, go above the exiting tram line from Mandalay Bay to Excalibur and end at a station behind the Shoppes at Mandalay. There is no timetable set for the completion at this time.
Extreme Sports Hotel/Casino The Clark County Commission has approved a land use permit for the construction of an extreme sports-themed hotel, casino, and amusement park. Slated to go on a plot of land on Las Vegas Boulevard just south of Mandalay Bay (next to the airport), the facility would include a 15-story hotel, a casino, indoor skydiving, a BMX style track, rock climbing towers, a bungee jump, ziplines, wakeboarding, surfing, and more. This was first proposed way back in 2013 but seems to have gained a least a little momentum recently.
The Drew In February 2018, the unfinished Fontainebleau hotel got a new name — The Drew. The hotel, which will be located at 2755 S. Las Vegas Blvd., is scheduled to open in 2020. The Drew Las Vegas is located on the Las Vegas Strip on the 24.5-acre site previously occupied by the El Rancho Hotel and Casino and the Algiers Hotel. It was intended to be a sister property to the well-known 1950s-era Fontainebleau Miami Beach hotel. Excluding the nearby Stratosphere observation tower, the Drew’s 68-floor hotel building is the tallest building in Las Vegas and in the state.
Las Vegas Ballpark The Las Vegas 51s are finally getting a long-discussed 10,000-fan capacity stadium next to Downtown Summerlin. They broke ground on February 23rd. The project, which will cost about $150 million — an estimated $90 million for the stadium itself — is expected to be ready for the start of the 2019 season. The park sits next to City National Arena, the Golden Knights’ practice facility, and adjacent to Downtown Summerlin.
MGM Convention Center Expansion A $130 Million may not sound like much money, but it’s what this expansion represents. Las Vegas is currently rated #1 in the USA for convention destinations and despite the mass amounts of current space available Las Vegas demands more. The number of convention delegates visiting Las Vegas has risen 41 percent since 2010 to top 6 million last year. The expansion will be an extra 250,000 square feet, bringing this destination to a total of 850,000 square feet. To create a mental picture that would be like combining 6 large Costco buildings.
All Net Resort-Arena Clark County commissioners approved in October 2017 the next phase of the arena, which would be located between The Drew and SLS on the Las Vegas Strip. This is a project of businessman and former basketball player Jackie Robinson. The complex would encompass a resort hotel, a retail and restaurant streetscape, and a multi-purpose indoor arena with a retractable roof. The arena first broke ground in 2014 but a completion date is unknown.
AREA 15 In January 2018, a new development called AREA 15 was announced. It will be located on 40 acres near Sirius Avenue and Rancho Drive. The space offers up to 126,000 square feet of customized tenant space for a specialty collection of experiential and retail businesses, 68,000 square feet of leasable ground floor space, 58,000 square feet of mezzanine space and a 40,000-square-foot indoor and outdoor event space. The space will include multiple areas, one of which is likened to comic books, another to science fiction film “Blade Runner” and a third to the apocalyptic “Mad Max” film series. The project is expected to be complete by the end of 2019.
Las Vegas Convention Center Expansion The Riviera implosion in 2016 led the way for the expansion of the Las Vegas Convention Center. The $860 million addition, and after renovations, the exhibition hall will be North America’s second-largest (top honors go to Chicago’s McCormick Place). This mega project will proceed in phases. The first phase, the LVCC District Expansion, is expected to be finished by the end of 2020, while a subsequent renovation of the existing 3.2-million square-foot convention center will wrap in 2023.
Can you believe all this is happening in the next year and a half!? Time is of the essence to buy Las Vegas and Henderson real estate. There is always excitement happening in our town but now there are even more exciting things happening. Contact Lauren Paris to discuss buying or selling.