Russell Road lot still considered top choice for Raiders Stadium
LAS VEGAS (KSNV News3LV) —
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The sign says it's still available, but a 62-and-a-half acre lot off Russell Road may soon be bustling with activity.
Clark County Commissioner Steve Sisolak has indicated it is the preferred location for the new Las Vegas Raiders Stadium. It has easy access from I-15. It's close to the strip, and it's right smack in the center of town.
Longtime Las Vegas Commercial Real Estate Broker Drew Levy said, "I think that type of development, any type, is going to greatly enhance that whole area." He said if this site is chosen, property values in the area will increase almost immediately. "I think you could see a good 5-mile radius around the stadium that could be impacted, positively," he said.
Rental and lease options will certainly go up and other vacant land in the area would likely be sought by investors.
Jeremy Aguero with Applied Analysis told News 3, "The expectation is that we'll sell about 2 million tickets a year. A lot of those will be people coming in from out of town, which means additional heads in beds."
And as for existing businesses, don't be surprised to see improvements. An attempt to attract some of those visitors.
"If they're smart businessmen they'll do some enhancements because they're going to want that higher rent," said Levy.
Not official just yet, but sources tell News 3 Russell Road is the Raiders first choice, and so far they've gotten what they've asked.