LAS VEGAS (KTNV) — A global development company says it wants to build a new arena and entertainment district as part of a multi-billion dollar project south of the Las Vegas Strip.
On Wednesday, Oak View Group announced that it has acquired 25 acres in Las Vegas, and according to a press release, the property is located on 66.5 acres of land near Interstate 15 and the 215.
The company teased a "multi-purpose Retail & Entertainment district" that would include a 20,000-seat arena, casino, hotel and additional entertainment amphitheater.
That project is expected to break ground in 2023.
A press release from OVG says it would be an 850,000 square foot arena with as many as 20,000 plus seats to host concerts, sporting events, award shows, conventions and more.
“South of the Las Vegas strip represents one of the few areas of potential future growth of the gaming and entertainment corridor,” said Tim Leiweke, CEO.
“This unprecedented project is an industry game-changer, and we will usher in the evolution of Las Vegas as the new entertainment AND sports capital of the world."
He went on to say the project would provide "good-paying jobs" in Clark County as well as "creating the most innovative and environmentally sustainable live entertainment point of destination in the world."
Jenilyn Ruff, part-owner of D'Pinoy restaurant across the street from the lot says she's excited and ecstatic to hear of the development plans.
“That’s going to bring more traffic to our business. More revenue with all this happening," she said.
View pictures of the location provided by Oak View Group below.