The Cordish Company Receives Unanimous Approval from the City of Las Vegas for a Major Arena, Entertainment and Gaming Anchored Development: Las Vegas Live!
The Las Vegas City Council voted unanimously to select The Cordish Company, one of the largest and most respected developers in the country, as the master developer for a new sports arena, hotel, casino, and entertainment district that will cover approximately 20 acres of City-owned land in downtown Las Vegas. The agreement gives The Cordish Company exclusive rights to work in partnership with the city for two years. The Cordish Company will conduct a feasibility analysis, create a master plan, and formulate a public-private financing mechanism to develop the district.
Las Vegas Live! will blend world-class sports, entertainment and gaming amenities in one location. The District will feature a major sports arena, totaling approximately 20,000 seats, and will be designed for Las Vegas’ first professional NBA and/or NHL team. The development will also include a mixed-use entertainment district, hotel and casino, which will offer visitors an unmatched mix of culinary, retail and entertainment experiences.
Las Vegas Mayor Oscar B. Goodman commented on the unanimous vote as follows, “The Cordish Company is in a class of its own. We conducted a national search and concluded there is no other development company in the country with the expertise and financial resources to deliver the premier arena and entertainment district the city has sought for years. A project of this magnitude and importance requires a truly unique company, especially during these unprecedented economic times. We are extremely excited to be working in partnership with The Cordish Company and look forward to making this development a reality. The City of Las Vegas deserves a world class project; we now have a world class developer to help us achieve this vision.”
Las Vegas Live! will draw upon the unique and diverse expertise of The Cordish Company in fields ranging from: entertainment, public-private partnerships, sports anchored developments, food & beverage, and gaming.
Remarking on the selection, Fantini’s Gaming Report stated, “In choosing Cordish, Las Vegas [may] have the only developer in the US who has successfully done both urban redevelopment with entertainment and retail elements and built casino resorts.”
“We are tremendously excited and honored to be part of such a ground-breaking and important project for the City of Las Vegas. Las Vegas Live!, anchored by a world class sports venue and hotel casino, will transform the economic landscape of Las Vegas,” stated David S. Cordish, Chairman of The Cordish Company.
“The project will create a unique environment and an unparalleled entertainment experience for Las Vegas residents and its visitors.”
Cordish is widely acknowledged as the premiere national developer of mixed-use, entertainment-oriented districts. The Cordish Company is the only developer in the United States to have been awarded seven separate Urban Land Institute (ULI) Awards of Excellence for its projects. Notable developments include. The Power Plant in Baltimore, Maryland; Fourth Street Live! in Louisville, KY; Power & Light District in Kansas City, Missouri; The Walk in Atlantic City, NJ and Bayou Place in Houston, Texas. Likewise, its gaming developments include the two Hard Rock Hotel & Casinos in Hollywood and Tampa, Florida, two of the most profitable casino facilities in the history of gaming, and Indiana Live! outside of Indianapolis, Indiana.