By Richard N. Velotta / Las Vegas Review-Journal
September 11, 2018 – 4:41 pm
Construction of $935.1M Las Vegas Convention Center starting
The last puzzle pieces for the Las Vegas Convention and Visitors Authority’s $935.1 million expansion fell into place Tuesday and construction equipment should begin moving into place on the site within days.
The LVCVA’s board of directors approved a guaranteed maximum price of $758.1 million on a 1.4 million-square-foot building that will include 600,000 square feet of new exhibition space at the northwest corner of Paradise Road and Convention Center Drive. (Wes Rand/Las Vegas Review-Journal)
The guaranteed maximum price is a part of a $792.1 million construction-manager-at-risk contract the LVCVA has with a joint venture of New York-based Turner Construction and Martin-Harris Construction of Las Vegas.
Under a construction-manager-at-risk development method, the manager provides a maximum price and must deliver the building by a set deadline with failure resulting in a series of financial penalties. The LVCVA is counting on a completion of the new exhibition hall by Dec. 1, 2020, in order to prepare for the arrival of CES 2021. The contract with Turner Martin-Harris includes $34 million in contingencies.
In addition to that contract, the LVCVA, guided by consulting project manager Terry Miller of Cordell Corp., agreed to three additional related projects as well as locking in a 67-foot shift of the entire project footprint to the west.
The new projects will include building landscaping and wall buffers along Paradise Road and Elvis Presley Boulevard and a canopy over the building’s loading docks for a total of $10 million. The LVCVA also is contributing $10 million for hazardous materials remediation and site improvements for newly acquired land west of the building.