A new NBA-ready arena project proposed for the south Strip aims to be a diamond in the desert.
The Las Vegas Diamond Arena is planned as a 21,212-seat arena, featuring a 100,000-square-foot ground-level plaza and 140,000 square feet of team and broadcast facilities. The venue would feature over 18,000 parking spaces and be within walking distance of over 20,000 hotel rooms on the Strip.
“This isn’t just another arena project — it’s a global stage for the NBA,” Tom Letizia, a spokesman for the Diamond Arena, said in a statement. “The league is looking for a long-term home in Las Vegas, and this site delivers everything needed to define the future.”
The project would be built on 11 acres located on the northeast corner of Las Vegas Boulevard and Four Seasons Drive. The existing shopping center located on a portion of the land would be demolished, with the tenants having another building to move into, Letizia said.
The project would feature several stakeholders from the land owners, which include Chetak Development Inc., an NBA ownership group and other partners, Letizia said.
Chetak has held a business license in Nevada since 1994 and owns developments and land across the Las Vegas Valley. Aside from the Strip shopping center where the arena would be built, Chetak also owns a shopping center on the northwest corner of Paradise Road and Sahara Avenue.
In March, the NBA Board of Governors voted to explore Las Vegas and Seattle as potential expansion cities. An ownership group led by former NBA great Earvin “Magic” Johnson and one that includes Golden Knights owner Bill Foley have expressed interest in owning a potential Las Vegas NBA team.
There is no projected timeline when the arena could be built or the price tag on the project, as it is contingent on the NBA awarding Las Vegas an expansion franchise, Letizia said.
“The timeline right now is contingent on the NBA, with the approvals and those will be refined as the project progresses,” Letizia said. “The goal is to align development with the NBA’s expansion timeline. So, we’re kind of at the NBA’s mercy as far as all of that’s concerned. And I know that’s moving on a very fast track right now.”
There have been conversations with the NBA, potential team ownership groups and Clark County officials about the project, Letizia said. Initial conversations with the Federal Aviation Administration have been had, as well, and Letizia doesn’t see any issue stemming from being located next door to Harry Reid International Airport.
“We’re right across the street from the Mandalay Bay,” he said. “I don’t believe there’s any issues there.”
One area where there haven’t been discussions relating to the project is regarding obtaining public funding to construct the arena.
“I know that’s pretty popular right now with sports teams, but that conversation has not taken place at this time,” Letizia said.
The Diamond Arena project would be unaffiliated with a casino or hospitality group, which would create more partnership opportunities for a potential NBA ownership group, according to the release.
There have been multiple potential NBA-ready arena projects announced in recent years, and it’s likely only one of those gets built, should an NBA team be awarded to Las Vegas. Letizia said he likes the chances that Diamond Arena is the project that makes it past the finish line.
“This stadium will be built specifically to NBA standards,” Letizia said. “The land is there. And you know what they say, location, location, location. I don’t think there’s any better location anywhere than where we sit right now, walking distance to 20,000-plus hotel rooms right on the fabulous Las Vegas Strip.”
Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.