2020 will transform not just Sin City’s skyline, but also the ventures of every professional property management company in Las Vegas. The construction of numerous new infrastructures is pouring billions of dollars into the world’s ultra-glamorous entertainment capital. This means nothing but good news for anyone interested in the Las Vegas real estate market, whether to buy or sell property, find a new business headquarters, or find a dream home.
Hottest Developments in Las Vegas This 2020
More than 40 million tourists visit Las Vegas every year, on top of nearly 3 million year-round residents. This makes it the economic and cultural hub of Nevada. For 2020 and beyond, those figures are expected to skyrocket due to a wave of new casinos, hotels, stadiums, and other construction projects set to intensify the city’s star status. Here are some of the most highly-anticipated:
- Raider’s Stadium
Las Vegas’ sports landscape will change permanently with the completion of the Allegiant Stadium this coming July. It will be the new home for the Raiders, who were based in Oakland until 2019. The $2 billion football stadium can seat 65, 000 people and is located near the Mandalay Bay just west of Interstate 15.
As early as now, many prominent events organizers are eyeing the Allegiant Stadium for their upcoming affairs. There are talks of eventual stadium-worthy concerts, Super Bowls, kick-off classics, Final Fours, and other major events. If all these push through, the venue will draw thousands more visitors to Las Vegas and cement the city’s credentials as an athletic destination.
- Downtown Project Receives
Another development for those interested in the professional property management of Las Vegas real estate is the Downtown Project (DTP). The initiative received more than $15 billion for its efforts.
Part of the DTP is the Expo at World Market Center Las Vegas, a $90 million, 315, 000-sq ft convention center that can host corporate events, trade shows, and other conventions. The Symphony Park is also being redeveloped and set to be finished later this year. Other notable projects include the residential complex Lave Om, new homes in East Fremont Street, and brand-new food destinations, such as Whiskey Licker Up and Hatsumi and La Monja.
- The Drew Hotel by Mariott
Marriot International and real estate firm Witkoff have joined forces to breathe new life into the Fountain Blue.
Renamed as The Drew Las Vegas, it will debut Marriot’s premium “Edition” brand in the city. The Drew Hotel will welcome guests with 4, 000 rooms and half a million square feet of convention space. Guests can also look forward to shopping and dining venues, entertainment and nightlife options, and a high-end casino.
- Resorts World Las Vegas
Las Vegas will soon become the home of the most expensive megaresort in the world: the $4.3 billion Resorts World Las Vegas. Its accommodations include 3, 500 rooms with villas, luxury suites, and penthouses with their own lobbies. The resort will also feature a 5, 000-seater cutting-edge theatre, a sky casino, and 50-ft diameter video globe plus a 75, 000-sq ft “daylife and nightlife concept.”
Upon completion, the Resorts World Las Vegas megaresorts will be unlike anything residents and tourists alike have ever seen before. Almost every professional property management company in Las Vegas is anticipating the effects of its opening to the real estate market.
- Area 15 and the Aviator’s Stadium
A whole new ballgame will hit Las Vegas in the form of the Aviator’s Stadium. Its estimated total cost is $150 million. It features climate-controlled batting cages, 22 premium seats, state-of-the-art grandstand seats, an outfield bar, play areas and picnic areas, a party deck, and a swimming pool.
- Circa Hotel Project Las Vegas
Finally, the 777-room Circa Resort and Casino will highlight local history with unique features, such as the Vegas Vickie. Other notable features include a sportsbook area, Fremont Street’s longest outdoor bar, and nine-story, 1,201-capacity parking space dubbed the Garage Mahal.
Invest in the White-Hot Las Vegas Real Estate Market!
These stunning, upcoming projects and additions to Las Vegas are adding even more value to the city’s real estate market. Interested in investing in, residing in, or buying a property in Las Vegas? Call a property management company to help you find the best residential, commercial, and cannabis real estate in NV!