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Rebels18

UNLV Abandons Domed-Stadium Option

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http://www.reviewjournal.com/news/las-vegas/unlv-deflates-dream-domed-stadium

 

Well, UNLV is putting an end to the domed-stadium concept...Right now projections for a shaded stadium are still in the $500 mill range, but that's just a lofty number to negociate down from. We'll get a nice $300~ million stadium, but it won't be the gamechanger that would've completely transformed UNLV's campus and catapulted UNLV academically and athletically.

 

Remember, Majestic was willing to put up $400 million of their own cash towards a $800 million stadium that would've been world-class. $400 mill from a private investor, that's more than our whole stadium will likely cost and then some. A state-of-the-art, luxurious venue that would've given UNLV the most unique and extravagant college football experience in the country that would've defined the very nature of LAS VEGAS. Not to mention it would've raked in more revenue from hosting alternative events than any other stadium in the entire country. Revenue that would've been redirecting to improving Athletic faciltiies across the board to be on par with the big boys of collegiate sports and used to bolster our Academic resources to build a medical school, Greek Row, and more suitible on-campus housing for students to shake the transient status of the university.

 

What a wasted opportunity squandered by those who lack vision and ambition at UNLV. $400 million down the drain, and hundreds of millions of dollars more flushed away in revenue that would've been generated for decades to come. I'm curous to see how much the resort/casino industry is going to pony-up for UNLV's stadium. Probably peanuts. It'll be even more hilarious when then MGM twists the knife in UNLV's back even further by stealing the NFR away once their arena is finished.

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Failure. Just put a little money in to Sam Boyd rather than building another mediocre football stadium. Go big, like UNLVnow, or its just wasting money. 

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http://www.reviewjournal.com/news/las-vegas/unlv-deflates-dream-domed-stadium

Well, UNLV is putting an end to the domed-stadium concept...Right now projections for a shaded stadium are still in the $500 mill range, but that's just a lofty number to negociate down from. We'll get a nice $300~ million stadium, but it won't be the gamechanger that would've completely transformed UNLV's campus and catapulted UNLV academically and athletically.

Remember, Majestic was willing to put up $400 million of their own cash towards a $800 million stadium that would've been world-class. $400 mill from a private investor, that's more than our whole stadium will likely cost and then some. A state-of-the-art, luxurious venue that would've given UNLV the most unique and extravagant college football experience in the country that would've defined the very nature of LAS VEGAS. Not to mention it would've raked in more revenue from hosting alternative events than any other stadium in the entire country. Revenue that would've been redirecting to improving Athletic faciltiies across the board to be on par with the big boys of collegiate sports and used to bolster our Academic resources to build a medical school, Greek Row, and more suitible on-campus housing for students to shake the transient status of the university.

What a wasted opportunity squandered by those who lack vision and ambition at UNLV. $400 million down the drain, and hundreds of millions of dollars more flushed away in revenue that would've been generated for decades to come. I'm curous to see how much the resort/casino industry is going to pony-up for UNLV's stadium. Probably peanuts. It'll be even more hilarious when then MGM twists the knife in UNLV's back even further by stealing the NFR away once their arena is finished.

UNLVNow was dumbest idea in the history of mankind and that is being kind! Who puts all the seats a mile away in the ENDZONES while using the prime 50 yard line seats for a monster big screen? It is worst idea I ever heard of and UNLV would have to be fools to let any OUTSIDER own a stadium on our campus!

A domed stadium would be outdated in under 10 years and we would be stuck with some behemoth Astrodome ridiculous looking alien ship building on our campus that is 80% empty! A DOME is a DISASTER for a college team.

UNLV needs a real College Football Stadium outdoors like the game of Football is meant to be played! We need it On-Campus and we MUST own it and control it. Build it 45,000 seats but expandable to 60,000 if we ever need that many.

Thank god we have real leadership at UNLV that is taking us down the proper path to greatness.

That UNLVNow would have been a nightmare disaster that would have ruined UNLV forever.

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Failure. Just put a little money in to Sam Boyd rather than building another mediocre football stadium. Go big, like UNLVnow, or its just wasting money.

I believe this is what eventually happens, once the legislature votes down tax increases to build a new stadium.

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Failure. Just put a little money in to Sam Boyd rather than building another mediocre football stadium. Go big, like UNLVnow, or its just wasting money.

Sam Boyd Stadium On-Campus is what we want.

The location, atmosphere and design of the current S Boyd Stadium is a non starter and that facility will never be acceptable for UNLV long term. We can sell Sam Boyd Stadium and the land for approximately $30 million dollars to use for our new stadium On-Campus.

Pouring money into Sam Boyd is a waste. It is a dump in the desert and that is all it will ever be.

UNLV will build a new On-Campus Stadium that will take us to the next level and allow us to join the big boys of the college football world.

Don Snyder knows what he is doing and he is doing this right! UNLV will get a College Football Stadium that we can call our own... ON CAMPUS!

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I believe this is what eventually happens, once the legislature votes down tax increases to build a new stadium.

Don Snyder already has approval for the stadium from the people who matter. The Legislature will do what they are told to do. Done deal.

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Sam Boyd Stadium On-Campus is what we want.

The location, atmosphere and design of the current S Boyd Stadium is a non starter and that facility will never be acceptable for UNLV long term. We can sell Sam Boyd Stadium and the land for approximately $30 million dollars to use for our new stadium On-Campus.

Pouring money into Sam Boyd is a waste. It is a dump in the desert and that is all it will ever be.

UNLV will build a new On-Campus Stadium that will take us to the next level and allow us to join the big boys of the college football world.

Don Snyder knows what he is doing and he is doing this right! UNLV will get a College Football Stadium that we can call our own... ON CAMPUS!

Who the hell would pay you guys 30 million dollars for Sam Boyd? 

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Who the hell would pay you guys 30 million dollars for Sam Boyd?

UNLV owns 70 acres of land at Sam Boyd Stadium plus the stadium itself. What do you think it would be worth on the market?

How much does an acre of land go for in Las Vegas right now?

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UNLV owns 70 acres of land at Sam Boyd Stadium plus the stadium itself. What do you think it would be worth on the market?

How much does an acre of land go for in Las Vegas right now?

The top end just based on a quick zillow search is 186,567/acre so you can probably expect around $13million for the land.

Unless the developer plans to use Sam Boyd it's likely the stadium is of little to no value in the sale as they're going to have to demolish it.

thelawlorfaithful, on 31 Dec 2012 - 04:01 AM, said:One of the rules I live by: never underestimate a man in a dandy looking sweater

 

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UNLV owns 70 acres of land at Sam Boyd Stadium plus the stadium itself. What do you think it would be worth on the market?

How much does an acre of land go for in Las Vegas right now?

 

Another interesting question: This is old (2012) but all I could find... I guess it all depends on the desirability of the area and how many houses they can cram on an acre of land.

 

FROM LVRJ: http://www.reviewjournal.com/business/economy/las-vegas-land-sales-show-dramatic-rise

 

By one measure of demand, SalesTraq reports that the number of Las Vegas subdivisions with new homes for sale has decreased to 220, down 10 percent from a year ago. During the peak of the building boom in 2005, there were about 500 active subdivisions in the valley.

 

Residential land values are determined by how many homes can be built on the parcel, average price and development costs to prepare the site and build the homes, Lenhart noted.

High-density residential land - 14 or more units an acre - sold for an average of $191,347 an acre in the first quarter, up from $168,836 at the end of 2011; medium-density residential (six to 14 units) sold for $104,000 an acre, down from $110,011; low-density residential (three to six units) was $35,135 an acre, down from $90,023; and rural residential (one to two units) was $42,398 an acre, down from $63,008.

While land values appear to be regaining traction in Las Vegas Valley, they may never reach the level of the boom years.

 

"Right now, it could be decades before we return to the peak that we saw five or six years ago, with lots of peaks and valleys in between," Lenhart said.

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Another interesting question: This is old (2012) but all I could find... I guess it all depends on the desirability of the area and how many houses they can cram on an acre of land.

 

FROM LVRJ: http://www.reviewjournal.com/business/economy/las-vegas-land-sales-show-dramatic-rise

 

By one measure of demand, SalesTraq reports that the number of Las Vegas subdivisions with new homes for sale has decreased to 220, down 10 percent from a year ago. During the peak of the building boom in 2005, there were about 500 active subdivisions in the valley.

 

Residential land values are determined by how many homes can be built on the parcel, average price and development costs to prepare the site and build the homes, Lenhart noted.

High-density residential land - 14 or more units an acre - sold for an average of $191,347 an acre in the first quarter, up from $168,836 at the end of 2011; medium-density residential (six to 14 units) sold for $104,000 an acre, down from $110,011; low-density residential (three to six units) was $35,135 an acre, down from $90,023; and rural residential (one to two units) was $42,398 an acre, down from $63,008.

While land values appear to be regaining traction in Las Vegas Valley, they may never reach the level of the boom years.

 

"Right now, it could be decades before we return to the peak that we saw five or six years ago, with lots of peaks and valleys in between," Lenhart said.

 

Anything from 2012 might as well be 1912. Land is certainly increasing in value from then, but there is still lots of inventory to get thru before residential starts a consistent recovery.

 

As for the SBS land, it is worthless as commercial as it doesn't have the frontage necessary for hotel/casino (and the Boulder Strip is dormant... South Strip is more likely to see development than this area). Industrial is out based on the location (surrounded by residential). Seems residential is the best use and I don't know that you are going to get many developers eager to tear down a stadium to do it.

 

UNLV would be wisest to sit on this property for a satellite campus, IMO.

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Sam Boyd Stadium should be deeded to Nevada State College since they are only about 3 miles apart from each other.

Not saying that it will be used quickly or even for football but NSU might just find a use for it, like renting it out for events to generate money for their school.

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UNLV owns 70 acres of land at Sam Boyd Stadium plus the stadium itself. What do you think it would be worth on the market?

How much does an acre of land go for in Las Vegas right now?

Isn't it in a pretty undesirable area?

 

The stadium itself wouldn't be worth anything I wouldn't think. Most likely the buyer would factor in the cost of demo and potential environmental cleanup and subtract it from the offer.

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Sam Boyd Stadium should be deeded to Nevada State College since they are only about 3 miles apart from each other.

Not saying that it will be used quickly or even for football but NSU might just find a use for it, like renting it out for events to generate money for their school.

 

 

Besides the Motocross what else do the host at Sam Boyd?

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