LAS VEGAS (FOX5) — New York-based real estate firm Fisher Brothers is pitching a 50-acre site adjacent to its AREA15 entertainment complex as the potential future home of an NBA franchise in Las Vegas, according to a development presentation outlining the proposal.
The plan envisions a state-of-the-art arena anchoring a larger mixed-use entertainment and retail district situated immediately west of Interstate 15. The site is contiguous to the existing 30-acre AREA15 complex, which has welcomed more than 17 million visitors since opening in 2020 and includes over 600,000 square feet of immersive retail and experiential entertainment space.
The proposal has drawn formal backing from top Las Vegas city leaders, including Mayor Shelley Berkley and Mayor Pro Tem Olivia Diaz.
In a July 27, 2026, letter of support, Berkley called the site “uniquely suited for a project of this scale.”
“I believe this is one of the premier development opportunities in the Las Vegas region and an exceptional location for a future NBA franchise,” Berkley wrote. “The vision reflects the kind of ambitious, transformative investment that will continue to strengthen Las Vegas as a global destination for sports, entertainment, tourism, and economic development.”
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Diaz, who represents Las Vegas Ward 3 where the property sits, echoed that endorsement in a July 28, 2026, letter, writing that she supports the vision for an arena and sports district.
“The AREA15 site presents a rare opportunity to create not only the future home of an NBA franchise, but also a world-class sports and entertainment district that can serve residents and visitors for generations,” Diaz wrote.
According to the proposal deck, the site is shovel-ready with strong municipal support and offers existing economic incentives. The project falls within a designated redevelopment area and federal Opportunity Zone, with $140 million in authorized economic incentives already established through the Tourism Improvement District program.
Fisher Brothers also highlighted existing site infrastructure, reporting $18 million in completed improvements. Among the completed utilities are a new 16-inch water main meeting Las Vegas Valley Water District standards, a new 21-inch sewer main along the frontage capable of supporting flow rates of up to 3.3 million gallons per day, and a Masterplan Umbrella Agreement securing 40.5 megavolt-amperes of dedicated power capacity.
Developers emphasized the property’s accessibility, noting its proximity to major corridors including Rancho Drive, Sahara Avenue, Desert Inn Road, and Spring Mountain Road. The site sits about seven minutes from approximately 150,000 Strip hotel rooms and within a 20-minute drive of 2.4 million residents.
Both Berkley and Diaz noted that league officials and a future team ownership group will ultimately decide where a franchise will play, but encouraged serious consideration of the proposal.
Founded in 1915, Fisher Brothers manages $6.1 billion in assets, encompassing more than 8 million square feet of commercial and residential property across New York, Washington, D.C., and Miami. According to the document, the company is flexible on structure and open to partnering with potential franchise owners.
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