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Old July 29th, 2014, 02:20 AM   #41
desertpunk
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With a $29 million funding gap, Las Vegas works to pull together Major League Soccer bid



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Developers proposing a $201 million Major League Soccer stadium must first plug a $29 million funding gap and reduce the taxpayers' share of the project's costs, according to city officials and records obtained by the Las Vegas Sun.



The records show that the city of Las Vegas is proposing picking up 74 percent of the stadium's total cost. The developers would be on the hook for the remaining 26 percent. The city would own the land and stadium. The developers would pay the city rent to use it.

But Bill Arent, the city's economic and urban development director, cautioned that the two-page "city funding model" document dated July 22 is still under negotiation. Two key points: the funding gap and splitting the stadium construction cost.

On the funding gap, Arent said they will search for ways to reduce the construction costs and the developers will explore other revenue sources.

[...]
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Old September 3rd, 2014, 06:57 AM   #42
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Originally Posted by LVS



Developer fashions plan for Las Vegas expo center off I-15 near Strip

Developer Jack Kashani, who helped launch the World Market Center furniture-expo hall, has his sights on another massive showcase center for Las Vegas, even though his first one was marred by financial and legal woes.

Kashani is rumored to be under contract to buy 63 acres of vacant land behind Mandalay Bay just west of Interstate 15, with plans to build the 2 million-square-foot International Fashion Center with 2,000 showrooms, according to brokers familiar with the deal. Two of them said Kashani is paying $90 million for the property, but another pegged the price at $75 million.

Kashani has been talking for years about building the fashion-industry expo hall at various sites in the valley, brokers said. He even has a website, which features renderings of the project behind Mandalay Bay and advertises showroom space to would-be exhibitors.
http://vegasinc.com/news/2014/sep/02...o-center-i-15/
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Old September 3rd, 2014, 07:53 AM   #43
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Oh nice to see another development in Las Vegas, this place has been quite dormant in a while.
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Old September 3rd, 2014, 10:02 PM   #44
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Las Vegas woud be a much better city if they lern that a small city alows create more shadows, and that is what that city needs
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Old September 4th, 2014, 06:24 AM   #45
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Originally Posted by LVS



MGM Resorts International and Morgans Hotel Group executives exclaimed, “We’re open!” — and Delano Las Vegas officially opened with a ribbon cutting Tuesday morning at the former site of The Hotel at Mandalay Bay.

Notes from a tour of the $80 million renovated South Beach chic Delano Las Vegas on Tuesday afternoon:

* The Hotel at Mandalay Bay opened in 2003, and Delano South Beach opened in 1994. In merging the properties, a goal was to bring to the former The Hotel a property with an identity and solid reputation — and South Beach chic vs. the over-the-top glitz of Las Vegas.

* Della’s Kitchen, which serves breakfast and lunch, aims to be a power-lunch spot for business travelers who are reportedly about 40 percent of the property’s visitors. Della’s is described as “historic farmhouse meets urban spoon.” “We take pride in knowing where our food is coming from,” says Della’s Kitchen chef Jay Calimlim.
http://www.lasvegassun.com/vegasdelu...s-opening-day/
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Old September 4th, 2014, 06:49 AM   #46
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They started tearing down the Harmon Hotel due to its structural issues.
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Old September 6th, 2014, 01:38 AM   #47
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Originally Posted by el palmesano View Post
Las Vegas woud be a much better city if they lern that a small city alows create more shadows, and that is what that city needs
I don't understand
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Old September 11th, 2014, 05:21 AM   #48
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Originally Posted by LVS



More parking, more stores coming to Premium Outlets-North

The open-air downtown mall is a hit with visitors and locals alike, and practically every storefront is taken. To further capitalize on bargain-hunters and sellers, management has expanded a parking garage with 780 more spots and is building 34 more stores, the mall’s second growth spurt since opening a decade ago.

Simon Property Group, the owner, started construction in May 2013 and plans to finish the 150,000-square-foot expansion by May 2015, just before retail real estate convention RECon kicks off in Las Vegas, said Alexandra Goranson, marketing director for Premium Outlets.

One tenant lined up for the space is Saks Fifth Avenue Off 5th, which plans to occupy a two-story building. Goranson declined to name the other expected tenants, though she said management signed Saks and some other retailers before breaking ground.

“Most of the stores are filled,” she said.

The mall, dubbed Las Vegas Premium Outlets-North, is especially popular with foreign tourists.
http://vegasinc.com/business/2014/se...um-outlets-no/
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Old September 29th, 2014, 10:16 PM   #49
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Harmon Hotel demo update:
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Old October 7th, 2014, 05:23 AM   #50
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Las Vegas economy on a roll as Downtown Summerlin opens


Downtown Summerlin by Marc Balatbat, on Flickr

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For more than 15 years, people have pestered Tom Warden about when Summerlin would get its own big shopping center.

Warden, vice president of community and government relations for Summerlin’s developer, The Howard Hughes Corp., won’t hear that question anymore come 10 a.m. Thursday.

That’s when Downtown Summerlin’s biggest phase to date — a 1.6 million-square-foot shopping, dining and entertainment complex — finally opens to the public.

But this project is way more than a mall. It began as an economic messenger heralding the dawn of Southern Nevada’s Great Recession. The unfinished, nine-story steel frame of its 200,000-square-foot, Class A office building loomed for six years over the 215 Beltway north of Sahara Avenue — a symbol of the city’s devastated economy.

Today, the project signals the downturn’s end. The 2,000-employee development is the biggest off-Strip project to open in nearly a decade: You’d have to go back to the 2007 debut of the 1.5 million-square-foot Town Square, on Las Vegas Boulevard at the Beltway, to find anything comparable.

“That’s a long time to go without a big, new project for a community that’s geared for growth,” said Jeremy Aguero, a principal analyst with local research and economics consulting firm Applied Analysis.

Downtown Summerlin is also one of the biggest retail developments under construction nationwide, second only to New Jersey’s 2.8 million-square-foot American Dream at Meadowlands, and three times bigger than No. 3, Iowa’s 668,000-square-foot Willow Creek Crossing, according to CoStar, a Washington, D.C.-based commercial real estate research firm. That rank is no small accomplishment for a city that took the Great Recession’s hardest punches.

“Just the fact that you’re seeing reinvestment, particularly in a project that had stalled and was nothing more than a steel cage for a few years, is extremely important from both a psychological and economic standpoint,” Aguero said. “Is it a harbinger of things to come, or some metaphorical corner that reflects we’re an economy in recovery and not in recession? All of those things are true. Think of what a partially constructed, empty building means. People who drove by Downtown Summerlin saw it every day. It was a symbol of just how difficult a time we went through as a community and an economy. Now it represents the opposite — a reflection that the market has turned.”

[...]


Downtown Summerlin by Marc Balatbat, on Flickr


Downtown Summerlin by Marc Balatbat, on Flickr


Downtown Summerlin by Marc Balatbat, on Flickr
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Old November 1st, 2014, 03:30 AM   #51
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Originally Posted by LVS



Is Las Vegas becoming the competitive bowling capital of the world?

“All the casinos in town that have bowling centers, there’s a reason: It’s a popular sport, anyone can do it and it’s also a great demographic,” said South Point general manager Ryan Growney. “(Bowlers) like to drink beer, they like to have a good time, they like to gamble — so it’s a demographic that casinos are going to obviously try to reach out to. We just went one step further to reach that next level of tournament bowlers.”

The 90,000 square-foot bowling facility has 60 lanes and a 360-seat viewing area. And that’s just the second level — on the first floor, the South Point also built two new horse showing facilities to expand its equestrian offerings.

Whereas other bowling spots are usually open to the general public — including the South Point’s original bowling area — this one is only for tournaments. Per a 12-year deal with the United States Bowling Congress, Las Vegas Events and the Las Vegas Convention and Visitors Authority, the facility will regularly host major bowling championships.

Future events will be much more extensive than the Professional Bowlers Association World Series of Bowling that will break in the center this weekend. During the USBC open championships, Growney said the center should see hundreds of bowlers pass through multiple times a day, seven days a week for several months.

Las Vegas has already seen how the bowling championships can affect the local economy. In 2009, the Cashman Center held the USBC Open Championship, which brought more than 17,000 teams and an estimated 292,750 travelers. The nongaming economic impact of the championship, held from February through July, was around $120 million.

USBC executive director Chad Murphy, who bowled his first tournament in Las Vegas in 1990, said the city is “exceptional” for bowling.

“There’s a long, storied history here — both amateur and pro alike,” he said. “We’ve kind of gravitated to these areas in some cases just because of the facilities that Vegas offers. Not to mention, it’s a vacation destination for folks, so our consumers like coming here.”

Asked whether the South Point’s facility makes Las Vegas the bowling capital, Murphy said he can’t say yet but “it looks like it’s going to be.”
http://www.lasvegassun.com/news/2014...ve-bowling-ca/
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Old January 26th, 2015, 12:30 AM   #52
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In addition to PK-12 investments, the bold vision that the Governor laid out this evening included other investments that will benefit Southern Nevada economic development, including the 9.3M initial investment for the UNLV Medical School, $250M for Project Neon, support for the $2B statewide investment of Switch, and support for the Las Vegas Global Business District, which will continue to make Las Vegas the number one tourism and convention destination in the world.
http://www.fox5vegas.com/story/27864...-state-address

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proposed Las Vegas Global Business District

"This is the single most important economic development project in the state," said Rossi Ralenkotter, president/CEO of the LVCVA. "This project is a defining moment for our organization, our industry, and our city. It will take us 25 years into the future and ensure we stay ahead of our competition and remain the envy of the convention industry."

The project is the largest development project for the center since it was originally built in the late 1950s and will be done in two phases. Phase one includes 750,000 square feet of new exhibit space and 187,500 square feet of supporting meeting space as part of the total 1.8-million-square-foot expansion. Phase two focuses on renovating the existing facility and includes a 100,000-square-foot general session space and another 100,000 square feet of meeting space.

Including public areas and service areas, the expansion and renovation expand the facility from its current total footprint of 3.2 million square feet to nearly 5.7 million square feet. Once construction begins, the entire project is expected to take 5 - 8 years to complete.

The $2.3 billion project is projected to bring 6,000 construction period jobs to Southern Nevada and the construction portion alone is projected to generate $3.6 billion in economic activity. When the project is complete, the resulting increase in economic activity could sustain up to 6,000 permanent jobs and generate an estimated incremental economic impact of nearly $700 million and $221 million in wages and salaries.

"The Global Business District is a watershed moment for Southern Nevada and it's a moment that we must seize for the benefit of our entire community," Ralenkotter said. "The construction job creation, the sustained permanent job creation, the direct and induced economic impact are all things any other city or state would envy. I believe it helps to secure a strong future for our city."

The Las Vegas Convention Center currently hosts approximately 1.2 million convention delegates each year. Those visitors and the conventions they attend support 14,000 local jobs, sustain $530 million in wages, and generate an annual economic impact of $1.7 billion. The expansion project could lead to an additional 480,000 new attendees as current conventions grow and up to 20 new conventions may relocate here.

In addition to the $2.3 billion convention center expansion and renovation, the Las Vegas Global Business District is a visionary project that includes developing a district concept in the neighborhoods surrounding the center. The district would provide a distinct look and feel to the area and provide the opportunity for economic development related to the industry, including the development of a global business center that utilizes the facility's World Trade Center designation to attract corporations wanting to interact with the tens of thousands of businesses who visit the convention center each year.

The Global Business District also includes plans for a centralized transportation hub that would be the centerpiece to a new transportation plan for the entire city. The LVCVA is working closely with the Regional Transportation Commission and transportation authorities and companies to develop a more efficient and expanded transportation system in the Valley.
http://www.lvcva.com/article/global-...boost-las/977/
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Old January 29th, 2015, 02:54 PM   #53
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Isn't the convention business suffering a bit on a global scale? Especially lavish convention business...
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Old February 6th, 2015, 02:45 AM   #54
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Would like to see done resort world.
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Old April 7th, 2015, 08:04 AM   #55
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Pawn Plaza

Pawn Plaza will open this summer and has announced the first three tenants — Rick’s Rollin Smoke BBQ and Tavern, Poutine Vegas and Rita’s Italian Ice.

Pawn Plaza will be located just south of Gold & Silver Pawn Shop, home to History Channel’s “Pawn Stars.”
http://vegasinc.com/news/2015/apr/06...ans-expansion/
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Old April 7th, 2015, 08:04 AM   #56
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UNLV group strikes deal to buy 42-acre site for stadium, other uses
By ALAN SNEL
LAS VEGAS REVIEW-JOURNAL
The UNLV Foundation, the university’s nonprofit fundraising arm, has entered a deal with Wells Fargo to buy a 42-acre site at Koval Lane and Tropicana Avenue for $50 million for a potential football stadium or other uses.

The UNLV Foundation won’t actually close on the land deal but instead transfer the option on the property to UNLV, or the university and other private partners, to cover the entire $50 million purchase, said Gerry Bomotti, senior vice president for finance and business.
http://www.reviewjournal.com/busines...ium-other-uses
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Old April 7th, 2015, 08:05 AM   #57
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Anschutz Entertainment Group, partnering with MGM Resorts International on the $375 million arena being built on the Strip, provided this rendering Monday showing the "Toshiba Plaza," the 2-acre plaza and park that will lead to the arena entrance. Toshiba and Coca-Cola have signed on as founding partners, or major sponsors, of the arena scheduled to open in late April 2016. Courtesy (AEG)

http://www.reviewjournal.com/busines...hiba-coca-cola
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Old April 7th, 2015, 08:06 AM   #58
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Lawmakers from both sides of the political aisle and transportation leaders from the federal government and two states gathered Monday on a breezy bluff overlooking a four-lane highway bottleneck near the newly reopened Hoover Dam Lodge for a historic groundbreaking for the first section of Interstate 11.

http://www.reviewjournal.com/news/ne...groundbreaking
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Old July 30th, 2015, 10:51 AM   #59
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What is the name of this project in Las Vegas?

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Old July 30th, 2015, 04:32 PM   #60
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Las Vegas Arena: http://www.arenalasvegas.com/home.aspx

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