There are talks of UNLV having a Las Vegas stadium built. How would this affect the local jobs market and also the Las Vegas housing market?
UNLV president Neal Smatresk recently stated that he has been in talks with Ed Roski and Craig Cavileer about building a domed 40,000-seat stadium and entertainment complex near the campus. There is also talk of making improvements to the Thomas and Mack Center as well. The parties involved have reportedly discussed forming a “public-private partnership.”
Majestic Realty, one of the world’s largest developers is owned by Roski. In 2008 Roski ranked 524th on the Forbes list of the world’s billionaires. He currently has an interest in both the Los Angeles Laker’s NBA basketball team as well as the LA Kings NHL franchise. His company also helped to build the Staple’s Center in L.A. Located in Las Vegas is the Silverton Casino Hotel and Lodge which is owned by Roski and where Caliveer serves as president.
At this time it is unknown just where the new complex will be located. The university president Smatresk is enthusiastic about the possibility of the new proposition. He said it would be somewhere near the Strip and the airport and there are rumors that it could even be built on the UNLV campus.
Las Vegas Mayor Oscar Goodman has for many years wanted a new Las Vegas stadium in hopes of a getting a pro hockey or basketball team. While his preference is to have a downtown stadium Mayor Goodman agrees that a stadium at UNLV is fine.
So what does it mean to Las Vegas to have a new stadium and entertainment complex?
Jobs and a revenue stream are what is at stake. These are critical to getting Las Vegas back on the mend. It is very easy to see how all of this relates to our local economy and to the health of our housing market. All eyes and ears are watching and listening to this matter very closely even though the news of the stadium discussions are still in the early stage.
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