The Las Vegas Convention & Visitors Authority board has taken the final step needed to begin construction on the Las Vegas Convention Centre District’s Phase Two expansion.
The body had approved the guaranteed maximum price agreement, allowing the project to break ground.
“This is an incredibly important and exciting time, not just for the LVCVA but for the entire destination.
“With today’s approval, we’re delighted to join a boom in development that’s on a scale that we haven’t seen in more than a decade,” said Steve Hill, LVCVA chief executive.
“We’ve been the number one trade show destination in North America for 24 consecutive years, but we must continue to be innovative and upgrade our offerings if we’re going to maintain that top spot.
“This expansion and renovation is our commitment to our clients and our community to foster growth and continue to deliver the excellent service and amenities that have made Las Vegas the world’s premier destination.”
The LVCVA Board approved the construction manager at risk contract of $792 million, which includes a guaranteed maximum price 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 guaranteed maximum price 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 to welcome CES in 2021.
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