Las Vegas Approves $4.2M for THIRD Street Arts Hub
The city will reimburse up to $4.2 million toward renovating two former downtown cinemas into a performing arts incubator.
Updated on Nov. 4, 2026 in Arts Theater — General
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The City of Las Vegas Redevelopment Agency unanimously approved $4.2 million in reimbursement funds for THIRD Street, a nonprofit converting the former Eclipse Theaters into a performing arts incubator. The reimbursement is conditioned on THIRD Street raising the remaining roughly $3.3 million of the projected $7.47 million construction cost and meeting performance metrics.
Why it matters
The project would bring performance venues, film and media production facilities, classrooms and workforce training under one roof in downtown Las Vegas. It aligns with the city's economic development priorities around arts and culture and workforce development.
The 250-seat flexible studio theater will sit within a 41,000-square-foot multiplex, with THIRD Street projecting 200 events and 200,000 attendees annually. Whether the nonprofit can close its roughly $3.3 million funding gap remains unclear.
The players
City of Las Vegas Redevelopment Agency
The city body that approved the $4.2 million reimbursement and oversees redevelopment funding in downtown Las Vegas.
THIRD Street
The nonprofit developing the performing arts incubator in the former Eclipse Theaters, with founding partners including Vegas Theatre Company and Vegas City Opera.
The details
Two former cinemas will be combined into a flexible studio theater, with added safety infrastructure, restrooms and dressing rooms. Founding partners Vegas Theatre Company, Vegas City Opera, Las Vegas Sinfonietta and Laugh After Dark have already operated out of the venue, and THIRD Street has a dual enrollment partnership with the College of Southern Nevada.
Timeline
December 2025: THIRD Street signed a lease for a 41,000-square-foot multiplex at 3rd Street and Gass Avenue.
November 4, 2026: The Redevelopment Agency unanimously approved the $4.2 million reimbursement.
November 14, 2026: THIRD Street will host its inaugural gala and Cockroach Ball.
Arts Ecosystem
The project aligns with the city's economic development priorities in economic and community impact and workforce development, positioning arts and culture as an employment and training pipeline rather than only entertainment. Its dual enrollment partnership with the College of Southern Nevada would let students earn college credits and industry-aligned credentials.
Once complete, the venue would host performances, classes and film and media productions in one downtown location. Local audiences could attend events at the 250-seat studio theater, which is projected to host 200 events annually.
The takeaway
Public arts investment in Las Vegas is increasingly tied to workforce training and economic outcomes, not just entertainment. Residents interested in the project can track fundraising progress and the November 14 gala for updates.
What happens next
THIRD Street is scheduled to host its inaugural gala and Cockroach Ball on November 14, 2026, and must raise the remaining construction funds to unlock the city reimbursement.
Further reading
Explore more on Arts Theater — General coverage across the Las Vegas region.
More information
Find project details on the THIRD Street project information page.
Source note: This article includes information reported by Las Vegas Weekly.
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