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September 11, 2018

LVCVA Grants Final Approval for Convention Center Expansion

The Las Vegas Convention and Visitors Authority (LVCVA) Board of Directors has taken the final step needed to begin construction on the Las Vegas Convention Center District’s Phase Two expansion by approving the guaranteed maximum price (GMP) agreement. This approval allows the development project to break ground. 

The LVCVA Board approved the construction manager at risk contract of $792 million, which includes a GMP of $758 million. Additional costs related to construction, design and consulting could bring the overall project cost for the Phase Two expansion to an expected total of $935 million. The GMP was negotiated by LVCVA staff, Cordell Corporation, the agency’s contracted owner’s representative and the project’s construction manager at risk, Turner Martin-Harris. Construction of the Phase Two expansion is expected to begin shortly. The expansion is slated for completion in time for CES in 2021.

The LVCCD Phase Two expansion project will add 1.4 million square feet to the current convention center facility, including at least 600,000 square feet of new, leasable exhibit space. Late last year, the LVCVA’s Board of Directors finalized the selection of tvsdesign / Design Las Vegas to provide design services for the expansion. 

Phase Three will be the complete renovation of the existing 3.2 million-square-foot facility, with a projected completion date of 2023. The phased approach ensures that no business will be displaced during the construction and renovation, the LVCVA said. LVCVA staff worked in partnership with Cordell Corporation, the agency’s contracted owner’s representative, to develop the vision for the expansion and renovation project. 

Each year, Las Vegas hosts approximately 22,000 meetings, conventions and trade shows, which support an estimated 65,000 jobs paying $2.7 billion in wages and salaries. In 2017, the Las Vegas Convention Center hosted 21 percent of convention attendees traveling to southern Nevada, which supported approximately 13,800 jobs, paying more than $576 million in wages and salaries. Including indirect and induced impacts, the Las Vegas Convention Center’s attendees generated $2.1 billion in economic impact for the local economy.  

The LVCC District Expansion (Phase Two) and Renovation (Phase Three) are expected to support nearly 14,000 construction jobs and more than 7,800 full-time permanent jobs upon completion, the LVCVA said. The project will generate an additional $2.1 billion in economic activity during construction and upon completion will have an annual incremental economic impact of $810 million while attracting more than 600,000 additional visitors each year.

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