The Boring Company (TBC) purchased a plot of land near Chinatown, where it plans to build a Vegas Loop station in the future.
TBC’s affiliate company, Open Dash, purchased a 1.4-acre parcel of land from Fairground Drive Retail, an affiliate of HMV Group, for $3.7 million. Clark County property records show the land transaction was made in July.
HMV announced The Boring Company’s purchase last week.
“We continue to make progress on our retail and mixed-use developments in Las Vegas’ booming Chinatown/Asian District that are directly adjacent to the site that we sold to The Boring Company. It made perfect sense to collaborate with them since the Vegas Loop station will eventually bring customers and residents to the doorstep of our Spring Mountain Vegas Loop retail development and Valley View Vegas Loop retail development projects. Both are expected to begin construction in late 2024,” stated Maxwell Nuremberg, Director of HMV.
According to The Boring Company’s expansion plans for the Vegas Loop, which were approved in the second quarter of this year, it plans to build two stations in the Chinatown/Asian district. The stations will be located in the nearly 1.4-acre property it acquired from The HMV Group.
The Boring Company has 93 stations planned for the Vegas Loop, reaching popular tourist destinations like the Strip and the Allegiant Stadium. The Vegas Loop will also stop by adjacent neighborhoods, providing rides to locals as well. TBC estimates that the Vegas Loops could transport more than 90,000 passengers per hour once it’s complete.
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