Brightline Acquires Site for Las Vegas Terminal
Brightline reported the acquisition on July 6, and said that plans are being developed for a 65,000-square-foot terminal, which will include parking and connections to ground transportation systems. The location offers easy access to the Las Vegas Strip, the Raiders’ Allegiant Stadium and McCarran International Airport, according to Brightline (see map below).
“We have continued our pioneering efforts throughout a period of unprecedented change to advance the development of Brightline West, and we now have secured our new home,” Brightline Holdings CEO Michael Reininger said. “Today’s [July 6] announcement represents another important milestone for the project and is tangible evidence of our commitment and progress. The location and quality of the site matches our aspirations for what will be the showcase for new high speed rail in the country.”
In late June, Brightline West decided not to seek state-based private activity bonds in 2021 to help finance construction of the 135-mile California line and 34-mile Nevada line (see map below). Brightline told Railway Age that the bond request will move to 2022.
Last year, parent company Fortress Investment Group had been marketing $2.4 billion of debt to be issued through California and Nevada agencies, but failed to sell the bonds to support its project. The Brightline West website had pegged year-end 2020 as a potential start date for construction.
As for a new potential start date, a Brightline spokesperson told Railway Age last month: I’m happy to keep you updated as we have additional information on project/construction timeline.”