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New stadium at Cashman Field site could revitalize area

Posted at 5:21 PM, May 30, 2019
and last updated 2019-05-31 00:08:08-04

LAS VEGAS (KTNV) — Mayor Carolyn Goodman is hoping to move one step closer to her goal of bringing a Major League Soccer franchise to Las Vegas.

This as the city council will vote Wednesday on developing a plan for a new stadium at Cashman Field.

RELATED: City of Las Vegas exploring MLS, soccer stadium options for Cashman Field

"We have been practicing for this for three and a half years. We have all the paperwork, our ideas, our ways to help fund it," Goodman said.

Mayor Goodman is clear the city has to look at any deal carefully but is hopeful things will line up in the latest attempt to being a major league franchise into the city limits.

Something financial advisor Steve Budin says could have a significant impact downtown.

"It is in a separate part of town from the other two stadiums so it will help diversify locally where people can go and watch a game," Budin said.

The previous effort to build an MLS stadium at Symphony Park in 2015 was derailed over opposition to public funding being pledged to the proposed $200 million, 24,000 seat project.

While funding for the new project hasn't been revealed most seem to agree, taxpayers want to see private investment.

"Clearly if the stadium builder is not coming to the taxpayer for money they stand a much better chance of getting the project approved," Budin said.

While there are still a lot of hurdles, Budin says a new stadium would do wonders for the redevelopment of the neighborhoods around Cashman.

"They will have people invest money down there and create restaurants and hotels and rental properties to help justify the visitation," Budin said.

With a new Downtown Summerlin Ballpark, the Las Vegas Raiders Stadium and T-Mobile Arena there are some question about whether las vegas could soon have too many sports venues?

"I think the fear of saturation is out there. I don't think we are there yet because of the stadiums and some of these venues that are getting built cater to niche fans," Budin said.

Budin also says one thing that will help a soccer stadium is the price of tickets which is typically lower than football and hockey, allowing more fans to enjoy the games in person.