Category: Raiders

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Las Vegas Raiders Stadium Q&A With Commissioner Steve Sisolak

Clark County Commission Chairman Steve Sisolak — one of the people most responsible for the Raiders-to-Vegas move — recently visited the Las Vegas stadium site to talk about the 2 billion dollar project. He covered a handful of topics and brought up a few interesting points…

The Parking Problem

The current location doesn’t have nearly enough parking for a 65,000-seat football stadium. It’s solvable but the solutions are all pretty expensive. The team will need to buy one or two nearby properties, turn them into parking garages, and develop a plan to shuttle people back-and-forth between the stadium.

Officials hope the Las Vegas Monorail can be extended to a nearby location, so large volumes of fans can be dropped off and only have a short walk to the stadium. Uber and Lyft are also expected to play a big role in getting people to the site.

UNLV Football

Part of the $750 million deal Las Vegas made with the Raiders is to allow UNLV to play their home football games in the stadium. The Rebels have been playing at an old, run-down stadium on the edge of Vegas for many years. Now they’ll be in a world-class stadium, which officials hope helps get them into a Power 5 conference.

No matter what, having such an amazing stadium should help with recruiting big time!

A Better Community

The addition of a $2 billion stadium is expected to help “build a better community” for all Southern Nevadans. Everyone from UNLV students to local construction workers to Vegas families should see major benefits from the project.

Tourism Boost

City leaders expect a year-around boost in tourism after the stadium is completed. “Raider Nation” fans from California and around the country will come by the 1000s, obviously, but so will the visiting team’s many hardcore fans.

Concerts and other sporting events are expected to keep the stadium full even when the NFL isn’t in town. There’s even talk of bringing the World Cup to Vegas one day. The “opportunities are endless” in terms of what the complex can be used for!

Bali Hai Golf Club

The large golf course across highway I-15 from the stadium location would make an ideal parking complex, so many people are wondering why the Raiders don’t just buy it. But the situation is actually fairly complex due to legal issues related to ownership and unpaid taxes.

Some interesting trivia: the land is actually controlled by famous sports gambler Billy Walters, who was just sentenced to 5 years in prison for insider trading.

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Have a question or comment? Looking for help buying a home in Las Vegas or Henderson? Leave a comment below or give us a call today!

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Las Vegas Raiders Stadium Update: FAA Gives the Green Light!

las vegas raiders stadium image

 

IT’S OFFICIAL: A pro football stadium is coming to Las Vegas!

That’s because, after months of waiting (and, we assume, world-class cajoling) the Federal Aviation Administration has approved the plans for the new Las Vegas Raiders stadium.

This was vital because the stadium location is surprisingly close to McCarran International, the nation’s 8th busiest airport. In fact, it’s only about a mile and a half away!

But the FAA put their best brains on the “problem” and came to the conclusion that the tallest parts of the stadium, which will measure just under 230 feet in height, won’t pose a risk to the 1000s of commercial jetliners and military aircraft that arrive every year.

The FAA green light opened the door for a unanimous project approval vote by the Clark County Commission, allowing them to issue construction permits to get this massive project underway.

Clark County Commissioner Steve Sisolak — one of the biggest and earlier proponents of the Oakland-to-Vegas Raiders move — was understandably happy:

Now we just need to solve the parking problems. 🙂

Bottom Line: A potentially MAJOR hurdle has been overcome and the new Vegas NFL stadium is on schedule. If all goes well, the team will be playing their first season here in 2020!

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Have a question or comment? Interested in buying a home in the beautiful Las Vegas valley? Contact us today!

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The Las Vegas Raiders Real Estate Boom Kicks Off With Massive Land Investment

rendering of new Las Vegas Raiders stadium

Like the 2017 NFL preseason, the Las Vegas Raiders real estate boom has officially begun.

An investment group called Global Trust Group just bought 2.5 acres of land right next to the new Raiders stadium site… for $7.25 million. That’s almost 3 million dollars per acre — about 6 times the average price of land in Southern Nevada right now!

That’s a lot of money but, given the popularity of the Raiders and the excitement surrounding their move to Sin City, this deal could lead to a huge windfall for the new owners.

Here are a few more interesting facts about this big commercial real estate deal:

  • No one knows yet exactly what the new owners plan to do with the land
  • There were no “preconditions” for the deal, meaning the buyers didn’t require project approvals from Clark County to finalize the deal (evidence that they may plan to re-sell it instead of developing it)
  • Immediately after acquiring the property, the new owners posted a sign that says “Create and defend wealth” which sounds like a solid investment strategy to be honest
  • There’s a 1.8-acre parcel adjacent to this parcel that’s tangled up in legal problems (and purported to be haunted)
  • Global Trust Group beat out 6 other qualified prospective buyers to get the land

Construction on the new Raiders stadium is expected to start within the next 5 months and finish before the 2020 NFL season begins. We expect several more large land deals to happen within the next year as demand skyrockets for both commercial and residential real estate near the Raiders’ new home.

Now that someone has paid nearly $3 million per acre, you can expect every property owner in the area to be posting “For Sale” signs very soon.

Want your own piece of “Raiders real estate” in Las Vegas? Now is the time to buy before home prices go up even more. Contact us today!

 

(h/t LVRJ)

Image courtesy of Manica Architecture

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Get Ready for the Las Vegas Raiders!

Over the next couple of years we’ll all have to start getting used to saying, “The Las Vegas Raiders”! The move to our Valley by 2020 became official after the recent vote by the NFL owners! In fact, the Raider organization has narrowed down the two possible sites on the North End of the Las Vegas Strip where their $1.9 Billion dollar stadium will be built! You can see the amazing renderings and summary of it’s features here.

Growing up in Las Vegas and being here for over 30 years has helped my real estate career immensely. My clients are able to take advantage of my Las Vegas & Henderson knowledge. I know this area! And the fact that we’ll soon have 2 professional sports teams here really shows that Vegas has arrived!

What do I expect to see in our real estate future? Nothing short of greatness! More jobs, more people moving here, and more houses!

The cost of living in Southern Nevada is certainly less expensive than California. Nevada consistently ranks as one of the cheapest States to live in. We don’t have a state income tax here! Zero/Nada/Zilch/$0…whereas California could have you paying up to 13% annually depending on income. Housing is less here too! That $500K home in California is around $300K here. You can absolutely stretch your money farther here.

If you have questions about moving here or you’re ready to buy here, contact me today. Mike Rebarchick w/ LIFE Realty at (702) 501-8726. Your Las Vegas and Henderson Real estate expert!