UNLV officials are planning the next big thing in the state of Nevada. A proposal was made this past Friday to the Nevada System of Higher Education Board of Regents from UNLV officials and their private partner, Majestic Realty.
What was presented to the Nevada education board was a new, 60,000 seat state of the art facility that features a mind-blowing 100-yard HD video screen — that is forty yards longer than the video board at Cowboys Stadium, which is currently the largest in the world.
“This project is a game changer for UNLV and Las Vegas,” said project leader Don Snyder. “It’s an important and significant project for the state as well. It’s the next big thing.”
The project, dubbed UNLV Now, could reach a price tag as high as $800 million, but a majority of the money would come from UNLV and Majestic Realty.
Plans for the stadium include much more than football. The hope is that such an incredible facility would be able to attract major music festivals, UFC events, NFL exhibition games and soccer matches.
“We will secure a lot more events if we have this stadium,” said president of Las Vegas Events Pat Christenson. “Because this venue itself will become an attraction, it’s going to help sell more tickets. With the event, the Las Vegas (Strip) and the venue, it’s going to be a highly powerful marketing combination.”
Talks are entering a crucial stage over the next six months and Snyder says UNLV will be doing a lot to make this project happen. Some of the steps UNLV will take include:
- Seeking approval from the Nevada Legislature to allow a tax-increment finance district for the project. If the district is approved, the project would be exempt from paying property, sales and live entertainment taxes for an estimated 25 to 30 years. Developers could still collect those fees and keep the money to help pay off the project’s debt. A similar attempt to allow tax dollars to be used to fund a stadium’s construction failed late in the 2011 session.
- Contacting the LVCVA, hotels and casinos to seek their pledges.
- Seeking approval from regents for an “area plan” for the stadium.
- Completing the “basic economic terms” between Majestic and regents, expected in late February.
This would be great for everyone involved if the project were to become a reality.
If everything were to go according to plan, the site would break ground within two years and be prepared for a 2017 opening.
The stadium would become a major attraction and could bring UNLV some top recruits that are hoping to play under the big lights of one of the nation’s greatest facilities. It may be an ambitious project, but those involved appear determined to make it happen.
Here’s hoping they do!
Here is a photo gallery of concept photos, per the Las Vegas Sun: