If it decides to build, Wynn knows limit of possible third tower

A vacant lot owned by Wynn Resorts just north of Fashion Show mall probably will remain empty for the near future despite a recent study showing a 640-foot-tall structure could be constructed on the site.

An aeronautical study from the Federal Aviation Administration for the vacant lot across Las Vegas Boulevard from Wynn Resorts Strip properties was completed in April for a “resort hotel and casino with a high-rise.” It showed that the site could accommodate a building up to 640 feet above ground level without causing problems for aircrafts.

Wynn Resorts, which has owned the 38-acre lot since 2017, asked for the study but downplayed the significance of it.

Michael Weaver, a spokesperson for Wynn Resorts, said in an email to the Las Vegas Review-Journal that the casino-resort operator “does plan to develop the parcel but has not announced a timeline for that.”

“(These) are standard steps we take to ensure that we maintain all future development rights for that land,” he said in a separate email.

The FAA study was requested by DeRuyter Butler, executive vice president of Wynn Design and Development. The study request was received by the FAA in June 2022 and completed in April 2023. It will expire in October 2024.

Under federal law a developer must give the FAA a chance to evaluate proposed structures near airports to determine if they would cause problems for aircrafts or with aviation navigation, according to a FAA spokesperson. An FAA aeronautical study provides a recommendation on heights that isn’t binding but can be used by local governments when a project is being considered for approval.

Howard Hughes Holdings announced last week that it was forming a spinoff company called Seaport Entertainment that has plans to develop a casino that would rise above Fashion Show mall. Weaver said development plans for the Wynn Resorts-owned land have nothing to do with any plans at Fashion Show. Howard Hughes and Fashion Show declined to comment on its future plans.

Erik Pappa, a spokesperson for Clark County, said there are no active permits for the lot owned by Wynn Resorts.

Vacant land, active history

The Wynn Resorts owned-land north of Fashion Show has a complicated history though it has been vacant since the New Frontier was imploded on the site in 2007 after an Israeli investor bought the land for more than $1.2 billion. The land was then acquired by Australian billionaire James Packer in 2014 through a foreclosure, who sought to develop a 1,100-room resort, Alon Las Vegas.

Plans for Alon Las Vegas were abandoned because of struggles to find financing and Packer’s company, Crown Resorts, stepped away from the development and put the land on the market for sale.

Wynn Resorts bought the land in 2017 for $336 million, and in 2018 founder Steve Wynn told analysts there were plans to develop the site quickly and add 2,000 to 3,000 rooms. But that idea happened shortly before Wynn resigned from the company because of a sexual misconduct complaint — which resulted in Wynn agreeing to step away from gaming and pay a fine of $10 million.

Former Wynn Resorts CEO Matt Maddox said in 2019 that the company likes owning the land for its “option value” and is “continuing to think about what could work” there. The company wanted to wait and see what the impact of the opening of Resorts World and Allegiant Stadium would be, he said.

Contact Sean Hemmersmeier at shemmersmeier@reviewjournal.com. Follow @seanhemmers34 on X.