Ice hockey plans
Red Rock Resorts has sold three parcels of land in the Las Vegas area to a California real estate developer that is working with the Vegas Golden Knights to build two ice hockey rinks.
closed escrow on the 73-acre site for around $59m.
The Las Vegas Review-Journal cited Agora Realty & Management, which confirmed Friday it had closed escrow on the 73-acre site for around $59m.
The site upon which Texas Station and Fiesta Rancho casinos stood will now see new development that will cost around $380m, according to Agora. As part of this development, the Calabasas real estate firm has teamed up with the Vegas Golden Knights on the “highly anticipated remodeling of the hockey facility,” once part of the Fiesta Rancho property operated by Red Rock subsidiary Station Casinos.
New owners upbeat
Judging by the upbeat tone of Agora following the deal, the developer is eager to realize its vision of the site at Lake Mead Boulevard and Rancho Drive.
Agora’s Chief Operations Officer Ryan Lefton said his firm was “thrilled” to expand its North Las Vegas footprint. Lefton added: “We eagerly anticipate contributing to the community and fostering growth and opportunities in this dynamic landscape.”
from resort commercial to a “mixed-use neighborhood”
In August, the North Las Vegas Planning Commission voted unanimously on Agora’s vision to rezone the land from resort commercial to a “mixed-use neighborhood.” The LVRJ cited Lefton as stating the $380m transformation will be in three phases, featuring a 150-room hotel, restaurants, retail outlets, an outdoor recreational area, plus the two Golden Knights ice rinks.
Agora has also earmarked a parcel of property in the southeast corner for building 665 residential units in addition to outdoor entertainment, a convenience store, and a childcare facility.
A positive development
Agora’s said it expects to break ground in early 2024 to complete the construction works by the end of 2025. Its news that might please Nevadans who did not take kindly to the announcement that Station Casinos properties would be demolished.
Many, such as Vegas-based professional poker player Katrina Kovell, reacted badly to Red Rock’s decision in July 2022 regarding Texas Station, Fiesta Rancho, and Fiesta Henderson, saying the news “sucks.” Kovell said out of all Station casinos, she “won the most money” at Texas Station.
At the time, President of Station Casinos Scott Kreeger, however, stated that even pre-pandemic, the three casinos were his company’s “worst-performing properties.”