Las Vegas is boomtown! This isn’t the first time this city in the desert has seen a building boom. From the time that the city was founded in 1905 to today, Vegas has gone through multiple booms. The Hoover Dam period, the first casino boom, multiple housing booms and downtown growth have all passed over the city.
Right now, the city is seeing one of the biggest and strongest growth periods it has seen in years.
The new NFL stadium
The Raiders’ arrival in Las Vegas is driving a massive amount of growth. This type of growth is sustainable as the football franchise will continue to draw tourists and drive a local economy for decades to come.
Two new resort complexes and a new convention center are fast becoming the jewels in the crown of the city. This is being coupled by many modern and innovative housing projects, many that include retail shopping and offices where the residents can work.
The Raiders stadium will seat 65,000 people and have a glass-domed roof. It will have real grass and retractable doors.
This is a 3,200 room hotel and casino that has a hefty price tag, $4 billion. The resort is expected to open in early 2020 with two 60-story hotel towers. It will feature Asian decor and have multiple restaurants highlighting the cuisines of various parts of China.
3,780 rooms will sit in the location where the Fontainebleau was never completed. This hotel-casino will be the latest in the attractions that bring millions of visitors to the city every year.
The latest boom is sustainable
Many booms in Las Vegas’ past have been based in irrational exuberance. These current projects are tempered with the caution brought on by the lessons learned during the housing crash of 2008. These investments and housing projects are being handled with a tempered and quiet style.