Earlier this week, Clark County signed off an expanded development proposal for the north Strip that includes a new Las Vegas arena — yet another facility in the area.
In an effort that has been in the works for several years, former NBA player Jackie Robinson has proposed the construction of a new arena as part of a larger development. The project has been slated for a 27-acre parcel between Fontainebleau and the SLS Las Vegas, and a ceremonial groundbreaking was held in 2014. However, the site was left largely unattended until excavation work begin in March.
On Wednesday, Clark County Commissioners signed off on an expanded plan that is estimated to cost $2.7 billion. Along with the arena, the development is slated to include two hotel towers, retail space, a movie theater, and other amenities. Robinson says that the financing is in place, and that he is seeking to complete construction by 2020. His goal, besides opening a new facility in a market that includes T-Mobile Arena, Thomas & Mack Center, Orleans Arena, MGM Grand Garden Arena, the Mandalay Bay Events Center and an upcoming NNL stadium, is to install an NBA team in the new arena. More from The Las Vegas Review-Journal:
Following the expansion vote, Robinson told the Review-Journal that the excavation process would take seven to eight months, and he indicated that the project would go vertical by late spring.
He also said “100 percent of the financing is done and completed,” and he named Credit Suisse as his lender. He declined to say whether the Swiss banking giant was alone on the deal or part of a consortium but said it’s “the lead on the project.”
Credit Suisse declined comment.
Asked why he was plotting a sizable expansion after it took him almost three years to start heavy work following his initial county approvals, Robinson said: “It’s called the numbers. You don’t want to build something that’s not going to be successful.”
Las Vegas has seen considerable action when it comes to sporting and event space in the last few years. T-Mobile Arena opened in April 2016, and the NHL’s Vegas Golden Knights made their regular season debut there this month. Meanwhile, it was recently revealed that MGM will purchase the WNBA’s San Antonio Stars and relocate the team to the Mandalay Bay Events Center.