Joint venture partners AEG and MGM Resorts International (NYSE: MGM), developers of a new indoor arena in Las Vegas, have released the first images and details of the 20,000-seat sports and entertainment venue.
It will be located near the heart of the famed Las Vegas Strip and adjacent to the I-15 corridor.
The images were unveiled as part of a project update by the ownership group for the new arena, which is expected to break ground in April 2014.
The arena is being designed with an array of premium offerings and club experiences as well as features that will make it immediately available to host NBA and NHL teams, concerts, boxing, mixed martial arts, family shows, award shows and other major events.
The arena, which will be the centerpiece of the revitalization of the area between New York-New York and Monte Carlo resorts, extending from Las Vegas Blvd. to Frank Sinatra Drive, is scheduled to open in the spring of 2016.
The project’s anticipated cost of approximately $350 million will be financed entirely with equity contributions from the partners and privately funded third-party debt financing.
Moreover, the arena is being designed to meet the U.S. Green Building Council’s standards for LEED Gold Certification.