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.
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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.”
A tribal nation that acquired most of the Route 91 site is buying the former White Sands Motel for more than $10 million.
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.
The long-planned $4.3 billion property could bring more tourists to the north Strip and a surge of visitors overall to Las Vegas.
Developer David Daneshforooz and Shopoff Realty Investments teamed up to acquire a 5.25-acre plot of land on Las Vegas Boulevard just south of Russell Road for $21 million.
The former Fontainebleau — the blue-tinted tower that has blighted the Strip for a decade — is slated to open as the Drew in the second quarter of 2022.