Teledata Technologies

Nevada Construction Part 2

        Construction developments are picking up in the Las Vegas valley and show no signs of slowing down.  In addition to the Las Vegas Convention Center, Resorts World, Wynn Paradise Park ( and the many other construction developments featured in Las Vegas Future Construction, southern Nevada is expected to bring in more exciting projects that will further develop its’ economy.   

            Fortunately, Nevada has overcome the vast foreclosures and stalled construction from the recession and statistics show that Nevada’s economy continues to progress.  While gaming and hospitality remains to be Nevada’s number one industry, construction follows at number two and happens to be Nevada’s fastest growing sector.  2017 brought in 10,800 construction jobs to the valley, making Las Vegas the second largest construction city next to Riverside, California.  Housing tracts, apartment complexes, warehouses and office buildings are rapidly developing but it is the massive projects underway that is making headlines.  Some additional projects include:

  • The Drew – Fountainbleau began construction in March 2006 and was set to open in 2008. Unfortunately, the building hit some hurdles with financing and was purched by Carl Icahn. The 60 story resort and casino with nearly 4,000 rooms is slated for construction continuation  2018 and will open late 2020. This property will be one of the tallest buildings along the Las Vegas strip and will be managed by the Marriot. The drew las vegas
  • All Net Resort and Arena- an entertainment complex developed by businessman and former basketball player, Jackie Robinson. The arena will be 63 stories and will feature 2,500 hotel rooms, a 240,000-square-foot conference center, 24-lane bowling alley and  a 2,500-seat showroom.  The arena is expected to cost $2.7 billion dollars.

 All_Net_Arena_Victory_Plaza_rendering

 

 

  • MSG Sphere- the MSG Sphere is a 400,000-square-foot, 18,000 seat, facility shaped like a ball. The development will be owned by Madison Square Garden and will be used for general conference audiences.The MSG Sphere will be completed by 2020 and located east of the Sands Center and connected by pedestrian bridge to the Venetian and Palazzo.msg sphere
  • The Edge- a 130-acre project that will feature off-road dirt biking areas, wakeboarding lakes, surfing lakes, in-door mountain bike track, indoor skydiving, rock climbing, bungee jumping, zip lines and a 15-story 640-room hotel.  Additionally, the Edge will also have a casino, convention space, restaurants and two rooftop swimming pools.  This massive extreme sports part will be located at the corner of Las Vegas Blvd and Sunset Road, just minutes from Town Square.
  • 51’s Park- The Las Vegas 51’s will into a new ballpark in Summerlin. The new park will sit next to the new Golden Knight’s practice facility and is within walking distance from Downtown Summerlin.  The development is expected to sot $150 million and is expected to premier in 2019.51s summerlin
  • Raiders Practice Facility- The city of Henderson recently approved the sale of 55 acres of land which will hold football practices and serve as the team’s corporate headquarters. The project is estimated to cost $75 million dollars and will be located near the Henderson Executive Airport.  This massive project will is expected to generate $13.8 million dollars in property and personal property tax revenue in the next 30 years.
 raiders practice facility

 

Construction will have a significant impact on Las Vegas’ housing market and overall economy.  More people will move to Southern Nevada, which will boost the city’s housing market.  Las Vegas’s future construction developments is expected to bump the population to 3 million by 2025 and will create thousands of jobs. 

 

Las Vegas, construction, nevada economy, stadium, raiders

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