On June 5, City Council approved an exclusive negotiating agreement (ENA) with The Renaissance Companies Inc. to explore building a mixed-use live, work and play development including a new soccer stadium at the Cashman Field site to house a Major League Soccer (MLS) expansion franchise. Renaissance’s corporate base has been in Nevada since 2000 with other offices in California, New York and Florida, and with affiliate wealth management partners in London and Dubai.
The ENA allows for discussion of plans for a new stadium and mixed-use development on the 62 acres where Cashman Field is currently located at 850 Las Vegas Blvd., North. During the 180-day term of the agreement, the city and Renaissance will work to draft a master development agreement that would then be brought back to the City Council for consideration.
The ENA also calls for Renaissance to present the city a detailed plan for the financing of the development of the stadium for review and approval by the City Council. The agreement calls for a master development agreement that maintains soccer downtown and requires team ownership working with the city to make an application to MLS for an expansion team.