The future of the Las Vegas Strip was discussed at a session of the 635-member National Association for Industrial and Office Parks (NAIOP) group, which invited Josh Swissman, founding partner of the Strategy Organization, and Alan Feldman, a former executive of MGM Resorts International. Both experts talked about how the area’s possible expansion.
According to Feldman, the Strip may eventually reach Las Vegas Boulevard and the M Resort at St. Rose Parkway in the near future. Meanwhile, Blue Diamond Road and Warm Springs Drive may serve as the Strip’s southernmost reaches over the course of the following years.
“If you look at the track record of Tim Leiveke and his colleagues, I think we’re going to see a slightly different version of that part of the Strip, like Resorts World 2,” he said.
Swissman, on the other hand, said that an MLB stadium near Las Vegas Boulevard and Sahara Avenue could extend the Strip north and that the opening of the Fontainebleau resort the following year will turn the northern end of the Strip into a growth hotspot.
“You will certainly see new hotel towers pop up from existing operators, whether it is Resorts World building its second phase – which is as big as the first – or you see that there is not much speculation to think about,” Swissman said.
Feldman also mentioned the possibility of a baseball stadium being built on the North Strip at the same time.
“I have yet to hear anyone in Oakland going ahead with a financing plan, whereas here, there are some individuals or companies that may just decide they want a baseball stadium on their development,” he said.
Feldman stressed that a lack of water could act as a “limiting factor” that hinders the Strip’s ability to develop further. However, he pointed out that some technologies have been employed to address this issue.
“The only thing that allows these big hotels to survive is that they’ve invested so much in the technology and sustainability of each property that the Strip is currently fully utilized throughout the county,” Feldman said in a statement.
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