An entertainment project that involves the Las Vegas Sands Corp. and Madison Square Garden Company appears to be moving forward, increasing the likelihood that another music venue will grace the Strip corridor.

The two companies announced last year that they were creating a “venue of the future” capable of housing large touring concerts, specially designed residences and full-blown productions and events.

The Nevada-based Kaempfer Crowell law firm submitted pre-application project documents with Clark County on Oct. 20, said Al Laird, the county’s principal planner. The documents include a diagram showing a proposed 585,000-square-foot music venue, which would sit on the southeast corner of Koval Lane and Sands Avenue. Sands owns the roughly 18-acre parcel of land, he said.

The documents submitted to the county didn’t include a capacity estimate, but a news release issued by the companies last year indicated it would include 17,500 seats facing a stage.

“In addition to superior acoustics, state-of-the-art technology will be utilized throughout the building, creating a venue of the future capable of delivering new and innovative experiences for both artists and fans,” company officials wrote in the May 2016 statement. “The venue will reinvent the VIP experience, with luxurious seating options and exclusive clubs and lounges.”

Laird said the proposed music venue is considered a high-impact project given its size, scope and the number of people it likely would draw to the area, hence the pre-application requirement.

County planners and staff from other agencies have a conference scheduled with the developers later this month to discuss the project and provide feedback The next step, which may occur in December, is for the developers to submit a formal application, thus beginning the entitlement process, he said.

A Sands spokesman said the company didn’t have additional information to share. A statement issued Tuesday night by Madison Square Garden Company largely echoed that sentiment:

“We are pleased with the progress we’re making on our plans to bring a groundbreaking new venue to Las Vegas. We will continue to work closely with all of our stakeholders and, at the appropriate time, look forward to sharing more about the investment we’re making in the vibrant future of the city.”

Aside from the company’s iconic and namesake arena in New York City, Madison Square Garden is also behind The Forum, an arena-sized venue in Los Angeles dedicated to music and entertainment.

Entertainment venues have been the latest trend in Las Vegas. The 650,000-square-foot T-Mobile Arena, owned by MGM Resorts International and AEG, debuted in spring 2016. It’s considered a multi-purpose entertainment venue that hosts concerts, sporting events and awards shows as well as being the home of the Vegas Golden Knights NHL team.

And, on Monday, the Raiders broke ground on an estimated $1.9 billion stadium just off the Las Vegas Strip, which will host sporting and other entertainment events.

Clark County Commission Chairman Steve Sisolak said he has met twice with officials from Madison Square Garden Company, who have described it as a high-tech entertainment venue that won’t be used for athletic events. As for whether the market can handle another sizable venue, Sisolak declined to speculate.

“If they think it can pencil, that’s a business call,” he said. “It creates more jobs and brings more people here, so that’s a good thing.”