Officials create offseason plans for F1 building

Las Vegas Grand Prix officials are still working out how their 300,000-square-foot facility just off the Strip will be used year round.

Formula One parent company, Liberty Media, spent about $500 million to acquire the 39-acre plot on the northeast corner of Harmon Avenue and Koval Lane and to construct the three-story building. It has a rooftop terrace featuring views of the Strip and Grand Prix Plaza.

With the sizable investment made by Liberty Media, the building is expected to be used for a variety of events beyond the race.

The building houses driver garages and high-end hospitality spaces during race weekends. Pit lane, the start-finish line and temporary grandstands are located there during grand prix weekends. The floors for the hospitality spaces are customizable and can be adjusted to host different events beyond the grand prix.

“We’re actually working really hard on providing a variety of destination hosting, so we can host anything from a business meeting all the way to something like the Super Bowl media party which had over 6,000 people attend,” said Betsy Fretwell, Las Vegas Grand Prix chief operating officer. “So we can flex up, and we can flex down.”

Las Vegas Grand Prix CEO Renee Wilm previously stated that everything from convention-style events, a driving school and fan experiences featuring 3D or 4D technology could potentially be hosted at the building.

Grand prix officials are providing tours to various groups in hopes of landing events starting next year.

“We are able to expose various destination management companies to what we have to offer here, so that we can get in the mix for that type of work next year,” Fretwell said. “But we’re also looking for some fan experience activities. More to come in ’25, maybe toward the end of ’24. We’re working on that right now.”