The Boring Company Expands Las Vegas Loop with New Property Acquisitions
The Boring Company is buying additional parcels along its proposed Las Vegas Loop expansion.
LISTEN TO THIS ARTICLE:Since the Las Vegas Loop launched in 2021, subsidiaries of The Boring Company have quietly acquired at least eight properties directly along the route and one single-family home just outside the planned alignment. The purchases, made as the firm moves to expand what began as a shuttle linking buildings on the Las Vegas Convention Center campus, have prompted fresh scrutiny from analysts weighing the commercial logic and risks of the strategy.
The Loop now reaches Resorts World, Encore and Westgate resorts, with company plans that extend far beyond the existing segments. The Boring Company has proposed a network of roughly 68 miles of tunnels and 104 stations, aiming to connect downtown Las Vegas, Harry Reid International Airport and Allegiant Stadium, and to move as many as 90,000 passengers per hour using Tesla vehicles adapted for tunnel service. Travel times between stations are projected to be two to eight minutes.
Industry observers describe the land purchases as a classic transit-oriented development play: securing real estate near future stations to capture rising land values or to enable mixed-use projects that take advantage of improved access. But the private nature of the Loop complicates comparisons to traditional mass transit, and the likely return on those property bets remains uncertain.
Alan Adamson, a brand strategist and co-founder of consulting firm Metaforce who has studied Musk’s vertical-integration approach, said the move fits a familiar pattern. "Elon Musk often prefers to control multiple layers of an ecosystem – the infrastructure, the vehicles and the adjacent assets. Buying land along the Loop gives his companies optionality: they can influence station design, future development, and how land value is captured. That said, optionality is not the same as profit: it becomes valuable only if the transit product scales and regulatory, safety and community concerns are addressed."
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Regulatory and Financial Hurdles
Questions about whether the Loop will function as true mass transit have surfaced repeatedly. Nicholas Irwin, an economist at the University of Nevada, Las Vegas who studies housing markets, cautioned that the premium typically attached to proximity to transit applies mainly to public, high-capacity systems. "Studies show that proximity to public transit adds measurable value to nearby properties, but a privately operated system with limited capacity and higher fares is a different proposition. If the Loop cannot reliably move large numbers of people at competitive prices, the expected uplift in property values may not materialize."
Regulatory scrutiny represents another potential brake on expansion. Nevada environmental regulators recently alleged hundreds of environmental compliance breaches related to Loop construction, a development that could force temporary work stoppages while issues are investigated and corrected. Any delays would increase project costs and extend the timeline for when adjoining land could be developed or monetized.
Analysts say the combination of operational limits, regulatory risk and uncertainty over public acceptance makes the property strategy a speculative play rather than a straightforward investment. "Buying land near proposed stations can be a hedge or a bet," Adamson added. "If the Loop becomes a reliable, high-frequency backbone of mobility in Las Vegas, those parcels could be worth far more. If not, they could sit underused for years."
For now, the acquisitions underline how far The Boring Company is willing to go to shape both transit infrastructure and the urban development that may follow, even as questions about capacity, autonomy and compliance remain unresolved.
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