Las Vegas has become an increasingly popular destination for events of all kinds in the past few years and recently completed a $1 billion expansion of the Las Vegas Convention Center to better accommodate the growing demand for event space.
On the entertainment side of things, the latest development project has been announced by Oak View Group (OVG), which intends to build an entertainment district south the of the strip, including a new 20,000 seat arena for live music and sporting events, which will bring even more visitors and economic activity to the area.
The entertainment district, estimated to cost $3 billion — OVG’s biggest project to date — will be built on a 25-acre plot of land, with construction set to begin next year. Current plans for the project include an 850,000 square foot arena, as well as a casino, hotel, and an additional entertainment venue amphitheater. In addition to live events, the arena will also be able to host conventions, meetings, and exhibitions.
“South of the Las Vegas strip represents one of the few areas of potential future growth of the gaming and entertainment corridor,” said Tim Leiweke, CEO of Oak View Group, in a statement. “This unprecedented project is an industry game-changer, and we will usher in the evolution of Las Vegas as the new entertainment AND sports capital of the world.”
The new build will prioritize technology, sustainability, and green initiatives, which are finally being embraced by the industry and showcased at other venues like Oak View Group’s Climate Pledge Arena, the world’s first certified net-zero carbon arena. The former president of the Las Vegas Raiders, Mark Badain, will be consulting on the project, while architecture firms Gensler and Populous have been tapped to design the space.
“This announcement marks the next step in solidifying our reputation as #TheGreatestArenaOnEarth,” said Michael Naft, Clark County commissioner, in a statement. “The team assembled has the track record and ability to bring another world-class venue to our world-class destination. They also have the expertise and history of building a carbon zero and zero waste facility. I welcome this next evolution for south Las Vegas Blvd, the jobs this project will create, and the history that will be made by today’s news.”