Elon Musk’s The Boring Company (TBC) bought a new tract of land in Las Vegas as the company looks to expand its Vegas Loop underground transportation system.
A TBC affiliated firm, Object Dash, purchased a 1.8-acre parcel of land across the street from the Thomas & Mack Center, a multipurpose arena located on the campus of the University of Nevada, Las Vegas (UNLV). The acquisition cost $7.2 million according to Clark County Records and was first reported by the Las Vegas Review-Journal.
The acquisition is the company’s latest as part of its Vegas Loop project, with this particular parcel intended to help connect UNLV with the Las Vegas Convention Center.
TBC says on its website that Clark County and the City of Las Vegas have approved 68 miles of tunnel and 93 stations for the Vegas Loop, which would link the Las Vegas Convention Center with casinos on the Strip, Allegiant Stadium, downtown Las Vegas and Harry Reid International Airport.
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Once the Vegas Loop is completed, TBC projects it will be able to transport over 90,000 passengers per hour, and the company plans to eventually connect it to Los Angeles.
Currently, one section of the Vegas Loop is operational – the Las Vegas Convention Center (LVCC) Loop – which has 1.7 miles of tunnels connecting the LVCC West Hall with the main campus that features the North, Central and South Halls.
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It first opened in April 2021 and has been in operation at all subsequent conventions, demonstrating a peak capacity of over 4,500 passengers per hour and over 32,000 passengers per day.
The cost of the LVCC Loop’s two one-way tunnels, plus two surface-level stations and one subsurface station was about $47 million, according to TBC.
TBC says that the LVCC Loop cut a 45-minute cross-campus journey to roughly two minutes and that it was built in about one year and occurred during conventions without disruptions or road closures.
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TBC did not immediately respond to a request for comment.