LAS VEGAS (KSNV) — A newly announced $10 billion development planned directly on the Las Vegas Strip is being pitched as a massive, year-round sports and entertainment hub — and as a potential contender for an NBA-ready arena.
The 63-acre proposed site from Starr Vegas Development, Inc. would be near Las Vegas Boulevard and Starr Avenue.
“Starr Vegas will redefine what a sports and entertainment destination should be. Our prime Strip location, integrated broadcast infrastructure, and multi-venue synergies create unmatched opportunities. We are building world-class facilities for soccer, basketball, concerts, combat sports, and more, the future home of professional sports in Las Vegas,” Chuck Haifley, chief executive officer of Starr Vegas Development, Inc., said.
Plans include a proposed 50,000-seat soccer and concert stadium that could expand to 60,000 for concerts and festivals.
The stadium is proposed with a covered roof, one open end with Strip views, 120 VIP suites, Dolby Atmos audio, large-format LED displays and 30 broadcast-grade 4K cameras.
The venue is intended to be purpose-built for MLS, USL, international soccer and major live events.
The development also includes a proposed 25,000-seat basketball and concert arena expandable to 30,000, with 100 VIP suites, robotic LED display systems and Dolby Atmos audio.
The arena is designed for hockey, combat sports, boxing, NBA, WNBA, college Final Four events, and concerts, and would include an automated quick-turn configuration for 12,500-seat events.
Other components outlined include a rooftop dome venue seating up to 1,000 guests atop the Big Vision Tower, intended for intimate concerts, private events and broadcast productions. The Big Vision Tower is described as a 40-story landmark that would house a Global Broadcast and Streaming Headquarters, production studios, AR/VR facilities, luxury residential condominiums with live-in-unit event feeds, a wellness center, and premium office space for media companies, sports leagues and technology firms.
Six dedicated development pads are included in the proposal for a sportsbook, casino, hotels, casino pre- and post-event suites, a rooftop stadium and a swim multi-use amphitheater with a 160-foot LED screen, along with retail, residential and office components.
The company said the development is enabled through a strategic land partnership with Las Vegas landowners Larry Canarelli and Khusrow “K.” Roohani, described as among the largest landowners in Clark County. The project site is currently in escrow, and the company said $6 billion in funding has been secured through a financing structure developed by Lou Weisbach, CEO of ITWT.
This comes after the NBA announced last month that it will move forward with exploring bids for expansion franchises in Las Vegas and Seattle.
Las Vegas Mayor Shelley Berkley recently expressed hope to pitch the NBA on a downtown arena as the new home of an expansion team. MGM Resorts has already pitched T-Mobile Arena, the home of the Vegas Golden Knights, as a potential NBA team’s home as well.