Last month the city approved a huge new downtown project. Mayor Goodman has been a driving force behind the redevelopment of downtown Las Vegas so its no surprise that the project was given the green light. Downtown is being divided up into seven districts. Current projects like Juhl will allow people to live right in these new districts, giving them access to art, entertainment, great dining and shopping literally right outside their doorstep.
The new development green lighted by the city will include roughly five million sf of additional retail, commercial and gaming space, another 9,000 hotel and condo units and a 22,000 seat major sports arena and will be approximately 85 acres on the west side of Main. The arena idea has been around for years, but it looks like its finally going to become a reality.
Real Estate Interests Group was selected out of six applicants to develop the arena. Looks like Las Vegas is a step closer to getting a major sports franchise. Plus property owners in the vacinity are certainly going to benefit as well.