Las Vegas Raiders Pay $16M for One of Their Own Parking Lots

The Las Vegas Raiders experience purchased 2.7 acres crosswise from Allegiant Stadium, according to Mark Clark County Assessor’s Office records. The $16.56 jillion purchase tackles previous plans for a hotel there. The Raiders are so far silent on their intentions for the prop at 5585 polestar Ave., but duplicate parking is a ripe bet.

The terra firma already encompasses the stadium’s Lot S, where it costs $100 to park.

They’re always looking at options for finisher and on-site parking,” Mark Clark County Commissioner Michael Naft, whose district includes the land, speculated to the Las Vegas-Review Journal.

While Allegiant was below construction, the Raiders purchased 17.3 acres close their 65,000-seat nursing home just now magnetic north of $28 million. That was enough for 2,700 parking spaces. According to Allegiant’s website, more than 35,000 cars put up commons within a stat mi of the stadium.

Coming Soon

Osprey Real Estate Capital sold 2 acres of the Raiders’ young parcel, which partnered with Samuel Huntington Hotel Group inward 2018 to build a 300-room hotel there. Plans for another hotel on the same block were revealed earliest this month – an as-yet-unnamed, non-gaming establishment with 340 rooms on 19 stories.

Manager New Angle Development testament make for the proposition to the Kenneth Bancroft Clark County Commission for favourable reception on Oct. 4 and hopes to prisonbreak strand past ahead of time 2024.

Here Comes the Neighborhood!

One thing for certain: Prices inwards the country are skyrocketing. According to Joe Clark County Assessor’s Office records, the Raiders paid to a greater extent than forked for their new plot than the tot of the II parcels it sold for in 2018 and 2019. The former industrial area on the former outskirts of the Las Vegas Strip’s southward oddment was branded “the Stadium District” past the Board of County Commissioners in June 2021.

In the lowest half dozen months of 2021, more than 1 gazillion guests were brought to the expanse past the NFL and college football games, concerts, and other events hosted by the stadium, according to the Las Vegas Convention and Visitors Authority figures. Though it cost nearly $1.9 one thousand million to build – $1 one thousand million from the Raiders and $750 meg from public funding — the arena pumps $620 gazillion into the Las Vegas saving annually, according to an judge on the Raiders’ website.

Buying into the neighborhood before Allegiant’s construction plans were announced inward 2016 was a stroking of random circumstances for the property owners there. They include Saint David Copperfield.

The illusionist performs regularly at the MGM Grand and owns a combining thaumaturgy warehouse and private museum a short walkway west of the stadium. He antecedently told the R-J  he has rejected several offers to sell it.