Brightline West has purchased 110 acres of land on Las Vegas Boulevard South to house the Southern Nevada terminus for the proposed high-speed line to Southern California, the company said Tuesday.
The property acquired by Brightline Holdings is located on the west side of Las Vegas Boulevard between Warm Springs Road and Windmill Lane, across from Premium Outlets South and offers quick access to the Strip, McCarran International Airport and Allegiant Stadium.
Brightline did not disclose the purchase price, but Clark County’s records show the land sold for $ 140 million and the transaction closed on Thursday.
“We have continued our pioneering work in a time of unprecedented change to fuel the development of Brightline West and have now secured our new home,” said Michael Reininger, CEO of Brightline Holdings, in a statement. “Today’s announcement marks another important milestone for the project and is tangible evidence of our commitment and progress. The location and quality of the location corresponds to our efforts to be the showcase for new high-speed trains in the country. “
The plans include a 65,000-square-foot terminal with ample parking and connections to ground transportation that customers can use for the long-discussed high-speed rail project from Las Vegas to Southern California.
Clark County Commissioner Michael Naft called the announcement “a significant step forward in our journey to secure the high-speed rail to Southern California.”
“It’s a demonstration of Brightline’s commitment to the project and investing in our community,” said Naft. “And it couldn’t come soon enough, as became clear on the July 4th weekend. The way to California is simply not enough to meet the needs of our booming travel industry. “
Company forecasts assume that 11 million passengers will travel between Las Vegas and Southern California annually upon completion of the project.
Brightline operates a high-speed line in Florida between Miami, Fort Lauderdale and West Palm Beach. Construction of an extension to Orlando is underway and should be completed by the end of 2022.
Brightline was set to lay the foundation for the project in 2020, but the company pulled a bond offer late last year citing market instability amid the coronavirus pandemic.
The bond offering consisted of the marketing of $ 800 million bonds that were purchased in Nevada and California to raise $ 3.2 billion to build the railroad. After the bond supply was abolished, the bonds of private activity were shifted into affordable housing projects.
Last month, Brightline announced that it would re-request the two states’ bonds, reiterating pandemic-related issues.
Brightline West will use zero-emission trains to connect Las Vegas Station and Los Angeles through several intercity projects, including planned stops in Victorville, California, where drivers can transfer to Rancho Cucamonga or Palmdale and transfer to the California Metrolink to get to the Los Angeles area.
“The location gives us the size and optimal properties to fully realize our vision, which is anchored by the most convenient link between two of the most important markets in the West,” said Sarah Watterson, President and Chief Development Officer of Brightline West, in a statement from Tuesday. “Building on our experience in the big cities of Florida, we will now bring creativity, innovation and environmental awareness to this new gateway for Las Vegas.”
Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on Twitter. The author Eli Segall contributed to this report.
