Las Vegas’ long-delayed north Strip resort has seen owners come, go and, in one case, return.
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A long-shuttered motel site on the Las Vegas Strip is getting a new owner: a North Dakota tribal nation that owns nearly 22 acres along the south edge of the famed resort corridor.
The developer said he owes approximately $25 million to $30 million for work on the resort, and that construction “will restart once the terms of the financing are finalized.”
Developers Brett Torino and Paul Kanavos, who built Harmon Corner and are working on the 63 retail center, would become the owners of property near the Convention Center.
The hotel-casino’s shopping district will span 90,000 square feet and feature around 35 “luxury retail concepts.”
Dream Las Vegas is estimated to cost around $550 million and slated to open in late 2024.
The towering north Strip hotel-casino will feature a pillarless ballroom spanning more than 105,000 square feet, one of the largest in Las Vegas.
After years of seeing big plans come and go, the north edge of Las Vegas’ famed casino corridor is showing more momentum than it has in years.
Gilda Perez-Alvarado, global CEO of brokerage Jones Lang LaSalle’s hotels and hospitality group, spoke about hotel sales and construction and the tourism industry’s recovery at recent conference.
The Las Vegas Convention and Visitors Authority board will consider selling land at Las Vegas and Elvis Presley boulevards to finance convention hall renovations.