Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBB/CMAR
# of Projects: 1
100% of the Results

Background informationProject Created: December 20, 2017

Project Name: Las Vegas Stadium
Year in Operation: 2020
Sector: Buildings
Subsector: Sports Venue
Status: Design / Construction
Type: New Facility
Description: 65,000 seat Domed stadium in Las Vegas, Nevada for the Las Vegas Raiders or the National Football League and the UNLV Rebels football team from the University of Nevada, Las Vegas.
Delivery Method as described in the country where it's located: Construction Manager at Risk
Is the project still active: Yes
Comments: Design Team: MANICA Architecture, HNTB, ARUP Construction Team: Mortenson Construction, McCarthy Construction

Project Locations

Address: 5301-5599 Polaris Ave.
City: Las Vegas
State: Nevada
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: The Raiders are reported to have acquired the land for $75 million in early 2017. The relationship between the team and the Stadium Authority is not known at the time of the posting.
Checkbox Checked Environmental Clearance

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: The Owner is the Las Vegas Stadium Authority (Clark County Commission). Not all documents are available. Development budget is $1.9 Billion. Financing is reported (not verified) as follows: $750 million in public funding, through municipal bonds issued by Clark County, backed by a special tax on hotel rooms in the Las Vegas area. There is no lease signed between the Authority and the Raiders.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: $650 million loaned by the Bank of America. Security for the loan is not disclosed.

Checkbox Checked

From Producers as Equity: $500 million from the Raiders ($200 million loan from the NFL's stadium upgrade program, $250 million in sales from personal seat licenses, and $50 million from cash reserves of the team.) No contribution disclosed from UNLV.

Project Delivery & Finance Method

Project Delivery:
Design Bid Build/Construction Management at Risk (All Public Finance). Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Construction Manager At Risk Variants: Public Sponsor contracts with Construction Manager At Risk while design is in process.

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals
Design
X
Construction Manager at Risk
X
X

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Initial Design and Construction
3
0
Forms
Description
Don't Know
 

Project Value (If and As Known)

Date of Estimated Project Value: December 1, 2017
Project Value
Hard Cost
Hard & Soft Costs
Construction
$1-5 Billion US
$250 Million - 1 Billion US
Total
$2-10 Billion US
$2-10 Billion US

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