Home>702Times>Harry Reid International Airport Expands Its Horizons with $135 Million Land Purchase

Harry Reid International Airport Expands Its Horizons with $135 Million Land Purchase

By TheNevadaGlobeStaff, October 31, 2023 7:30 pm

Las Vegas, NV – Harry Reid International Airport, a vital aviation hub in the heart of Las Vegas, has made a significant expansion move with the acquisition of 65 acres of prime real estate just south of the airport. The transaction, valued at $135 million, is poised to facilitate the airport’s growth and meet the demands of a bustling travel industry.

Owned by Clark County and operated by its Department of Aviation, the airport confirmed its commitment to growth by revealing that its lease agreement with the Las Vegas Golf Center, one of the property’s tenants, will remain intact. This strategic land purchase underscores the airport’s dedication to both current and future passengers.

The acquired land is strategically situated at the southeast corner of Las Vegas Boulevard and Sunset Road, a location previously under the ownership of Las Vegas-based company Urban Land Investment. It’s important to note that this area falls within the airport’s runway protection zone, a common reason for airports to invest in land adjacent to their runways.

One notable aspect of this acquisition is the airport’s eligibility to receive up to 75 percent reimbursement of the purchase price through a future Federal Aviation Administration (FAA) grant. This financial support from the FAA demonstrates the federal government’s commitment to bolstering the nation’s aviation infrastructure.

In a related development, Harry Reid International Airport has experienced unprecedented growth, setting a record in September with 4.8 million passengers arriving and departing. The Department of Aviation predicts that the airport is well on its way to reach a capacity of between 63 million and 65 million annual passengers by approximately 2030. However, the construction of a reliever airport, which would help manage this growth, is not expected until 2037.

Credits: Review Journal

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