Oak View Groupthe global venue developer / investor co-founded by Irving Azoff and run by Tim Leiweke, is building a new $ 3 billion entertainment district in Las Vegas on 25 acres including an 850,000 square foot arena, amphitheater, casino and hotel.
The 20,000 + -seat arena will have suites, premium hospitality clubs and host live events including concerts, sporting events, family entertainment, as well as conventions, award shows and international gatherings. Construction – with a focus on the prioritization of technology, sustainability, and green initiatives – is expected to create thousands of permanent and temporary local jobs.
“It doesn’t get much bigger or better than Las Vegas,” said Azoff, calling the development “the next jewel in the OVG crown.”
The firm’s projects include the Climate Pledge Arena in Seattle ($ 1.2 billion, 18,100-seat, the world’s first net-zero carbon certified arena in the world and home of the NHL’s new Seattle Kraken); the UBS Arena in New York ($ 1.1 billion, home to hockey’s NY Islanders); and the soon-to-open Moody Center arena at the University of Texas in Austin.
Groundbreaking is expected in 2023 for the Vegas complex, located on 66.5 acres of land near the intersection of two major freeways, I-15 and I-215.
“South of the Las Vegas strip represents one of the few areas of potential future growth of the gaming and entertainment corridor,” said Oak View Group CEO Leiweke. He called the project “an industry game-changer” that will “usher in the evolution of Las Vegas as the new entertainment and sports capital of the world.”
Marc Badain, a veteran sports industry executive and former president of the NFL’s Las Vegas Raiders, has partnered with OVG to spearhead and consult on the new project along with the President of Business Development, Francesca Bodie, who will oversee business transactions and operations. Development on what will be OVG’s biggest project to date will be led by Steve Collins, its president of global venue development and special projects.
The complex is designed by architecture firms Gensler and Populous.
Nevada Gov. Steve Sisolak said the new entertainment district “will help continue the state’s economic momentum and create thousands of jobs and greater prosperity for Nevadans.”
The development is adjacent to the planned Brightline high-speed rail station on that site that OVG, citing estimates, said more than 13 million vehicles coming from California pass each year. The site will be a 15-minute drive to and from all major Las Vegas Strip resorts and the airport.
OVG’s other upcoming projects include the Acrisure Arena in Coachella Valley; São Paulo Arena in Brazil; Baltimore Arena; FirstOntario Center Arena; the New Arena at the Atlantic Wharf in Cardiff, Wales; and Co-op Live arena located in Manchester, which when completed in 2023, will be the largest arena in the UK.