London-based developer outlines Moulin Rouge development plans

A London-based developer said Friday he is prepared to develop the Moulin Rouge and redevelop “as many” of the 470 acres that make up the historic Westside site “as possible.”

Paul Taliaferro, CEO of London-based Psi-Key Entertainment, said as an African-American he finds the story of the Moulin Rouge compelling and is looking to “uplift” the Westside community.

“The overall cost of the development itself, which includes several different pieces, is about $1.9 billion for this initial flagship component,” Taliaferro said.

He said plans call for developing a hotel resort for the Moulin Rouge along with a convention center. He also envisions a film and television studio for a new 3-D international game show, a hall of fame arena and a museum that would be comprised of the rebuilt and rejuvenated facade and sign.

“We’re thinking of maybe even being able to possibly include the old tower as well,” he said.

The 15.5 acres that make up the Moulin Rouge site include property at 840 W. Bonanza Road, 920 W. Bonanza Road and 1001 W. McWilliams Ave., along with 59 condominium units in the Desert Cactus condominium complex between Martin Luther King Boulevard and H Street.

No developer has been able to successfully redevelop these 15.5 acres since the Moulin Rouge, which was the first racially integrated casino in Las Vegas, shut down in November 1955 after a successful six-month run.

The most recent redevelopment attempt was earlier this summer by Boris London, who was managing member of Moulin Rouge Holdings LLC.

“Money and financing is everything in real estate,” London said. “If they (Psi-Key) have resources, this can be absolutely beautiful — the best thing that can happen to Vegas and especially in this area.”

Judging by the the company’s initial $1.9 billion just going toward the Moulin Rouge site, London said the project is in good hands.

“It comes down to resources. If they have the resources to withstand the market, to withstand little bumps in the road here and there, and (wait for) people getting used to this area and changing minds about this area, to change the stigma about this area, if they have staying power to withstand all of that absolutely they will be successful,” London said.

Taliaferro, 47, has been involved with multiple large-scale development projects, including several resorts in the Caribbean.

The redevelopment attempt in 2004 that ultimately left the Moulin Rouge property in receivership involved about 300 investors, who still are waiting to be repaid after a successful closing sale of the property.

Taliaferro said this project involves a “relatively small tight-knit group of investors … well under 300.”

The Moulin Rouge resort would be accompanied by a transportation system that would bring guests from the airport, through the Strip, past the Downtown area and to the Moulin Rouge. In talks with city representatives, Taliaferro said he is hoping “to gain more support on that,” and said he is working with Las Vegas Mayor Carolyn Goodman and the governor’s office of economic development.

“I think people have been waiting for something positive to come into this community and specifically to see see something happen with this site,” he said. “ We are quietly confident that things can actually evolve now and be developed in a manner that’s going to be conducive to being able to make this truly a win-win situation for both the community and for ourselves.”

Stephen Miller, director of the Center for Business and Economic Research at UNLV, said, “Kudos to Katherine Duncan … There have been efforts to try to build up the Moulin Rouge as a historic site and trying to link it to African-American heritage and issues. This sounds like it’s fitting the bill.”

But, he said, he wonders what tourism demand there is for such a site, and, as with any big project, “Let’s see the money.”

Psi-Key has $1 million in escrow with Fidelity National Title and is slated to pay $9 million in two years for the purchase of the property. The company has a 30-day feasibility period, and the closing of the sale is contingent on a district judge approving the sale to Psi-Key on Nov. 18.

Contact Nicole Raz at or 702-380-4512. Follow @JournalistNikki on Twitter.

Project billed as one of the world's largest marijuana dispensaries plans to open Nov. 1
Planet 13 co-CEO Larry Scheffler talks about what to expect from the new marijuana dispensary, Thursday, July 19, 2018. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Oasis Biotech opens in Las Vegas
Brock Leach, chief operating officer of Oasis Biotech, discusses the new plant factory at its grand opening on July 18. (Bailey Schulz/Las Vegas Review-Journal)
UNLV Tech Park innovation building breaks ground
Construction on the first innovation building at the UNLV Tech Park is underway. (Bailey Schulz/Las Vegas Review-Journal)
Caesars Forum Meeting Center
Caesars broke ground Monday on its $375 million Caesars Forum Meeting Center (convention center) just east of the High Roller observation wheel. (Caesars Entertainment)
Technology reshapes the pawn shop industry
Devin Battersby attaches a black-colored device to the back of her iPhone and snaps several of the inside and outside of a Louis Vuitton wallet. The device, installed with artificial intelligence capabilities, analyzes the images using a patented microscopic technology. Within a few minutes, Battersby receives an answer on her app. The designer item is authentic.
Recreational marijuana has been legal in Nevada for one year
Exhale Nevada CEO Pete Findley talks about the one year anniversary of the legalization of recreational marijuana in Nevada. (K.M. Cannon/Las Vegas Review-Journal)
Young adults aren't saving for retirement
Financial advisors talk about saving trends among young adults. (Bailey Schulz/Las Vegas Review-Journal)
President Trump’s tariffs could raise costs for real estate developers, analysts say
President Donald Trump made his fortune in real estate, but by slapping tariffs on imports from close allies, developers in Las Vegas and other cities could get hit hard.
Las Vegas business and tariffs
Barry Yost, co-owner of Precision Tube Laser, LLC, places a metal pipe into the TruLaser Tube 5000 laser cutting machine on Wednesday, June 20, 2018, in Las Vegas. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Nevada Film Office Connects Businesses To Producers
The director of the Nevada Film Office discusses its revamped locations database and how it will affect local businesses. (Bailey Schulz/Las Vegas Review-Journal)
Opendoor isn't the typical house flipping company
Unlike most house flippers, the company aims to make money from transaction costs rather than from selling homes for more than their purchase price.
The Venetian gondoliers sing Italian songs
Gondolier Marciano sings a the classic Italian song "Volare" as he leads guests through the canals of The Venetian in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal)
Building In Logandale
Texas homebuilder D.R. Horton bought 43 lots in rural Logandale. (Eli Segall/Las Vegas Review-Journal)
Indoor farming in Southern Nevada
Experts discuss Nevada's indoor farming industry. (Bailey Schulz/Las Vegas Review-Journal)
Former Fontainebleau could have become a Waldorf Astoria
Months after developer Steve Witkoff bought the Fontainebleau last summer, he unveiled plans to turn the mothballed hotel into a Marriott-managed resort called The Drew. But if Richard “Boz” Bosworth’s plans didn’t fall through, the north Las Vegas Strip tower could have become a Waldorf Astoria with several floors of timeshare units. (Eli Segall/Las Vegas Review-Journal)
LVCVA CEO Rossi Ralenkotter announces plans to retire
Rossi Ralenkotter, CEO of the LVCVA, on Tuesday confirmed a Las Vegas Review-Journal report that he is preparing to retire. Richard N. Velotta/ Las Vegas Review-Journal
Cousins Maine Lobster to open inside 2 Las Vegas Smith’s stores
Cousins Maine Lobster food truck company will open inside Las Vegas’ two newest Smith’s at Skye Canyon Park Drive and U.S. Highway 95, and at Warm Springs Road and Durango Drive. Cousins currently sells outside some Las Vegas Smith’s stores and at Fremont Street and Las Vegas Boulevard. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas home prices to continue to rise, expert says
Lawrence Yun, chief economist at the National Association of Realtors, gives homebuyers a pulse on the Las Vegas housing market. (Eli Segall/Las Vegas Review-Journal)
NV Energy announces clean energy investment
The company is planning to add six solar projects in Nevada, along with the state's first major battery energy storage capacity. Bailey Schulz/Las Vegas Review-Journal
3 Mario Batali restaurants on Las Vegas Strip to close
Days after new sexual misconduct allegations were made against celebrity chef Mario Batali, his company announced Friday that it will close its three Las Vegas restaurants July 27. Employees of Carnevino Italian Steakhouse, B&B Ristorante and Otto Enoteca e Pizzeria, all located in The Venetian and Palazzo resorts, were informed of the decision Friday morning. Bastianich is scheduled to visit the restaurants Friday to speak to employees about the next two months of operation as well as how the company plans to help them transition to new positions.
Nevada has its first cybersecurity apprenticeship program
The Learning Center education company in Las Vegas has launched the first apprenticeship program for cybersecurity in Nevada. It was approved by the State Apprenticeship Council on May 15. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas union members voting to authorize the right to strike
Thousands of Las Vegas union members voting Tuesday morning to authorize the right to strike. A “yes” vote would give the union negotiating committee the power to call a strike anytime after June 1 at the resorts that fail to reach an agreement. (Todd Prince/Las Vegas Review-Journal)
Small businesses struggle to find qualified candidates
A 2018 survey found that over two-thirds of small businesses in Nevada find it somewhat to very difficult to recruit qualified candidates. Bailey Schulz/Las Vegas Review-Journal
Nevada secretary of state website offers little protection against fraudulent business filings
Property developer Andy Pham tells how control of his business was easily seized by another person using the secretary of state website.
Caesars may be going solo in its marijuana policy
Several Southern Nevada casino companies aren’t following Caesars Entertainment’s lead on marijuana testing.
How much is the Lucky Dragon worth?
Less than a year-and-a-half after it opened, the Lucky Dragon was in bankruptcy.
Gyms and discount stores take over empty retail spaces
Grocery stores used to draw people to shopping centers. But many large retail spaces have been vacant since 2008. Discount stores like goodwill and gyms like EOS Fitness are filling those empty spaces, and helping to draw shoppers back in. K.M. Cannon/Las Vegas Review-Journal
Funding source of Las Vegas stadium for the Raiders is sound, expert says
The stadium is funded in part by $750 million of room taxes, the biggest such tax subsidy ever for a professional sports stadium. Robert Lang, executive director of Brookings Mountain West and The Lincy Institute at UNLV, says that is a good use of public funds. (Richard Velotta/Las Vegas Review-Journal)
Las Vegas needs light rail, expert says
Robert Lang, executive director of Brookings Mountain West and the Lincy Institute said he is afraid of a "congestion mobility crisis." Las Vegas needs a light rail system, he said, to accommodate the city's growing number of attractions. (Richard Velotta/Las Vegas Review-Journal)
Three takeaways from Wynn Resorts' Earnings Call
Matt Maddox came out swinging in his first earnings conference call as Wynn Resorts chief executive officer, boasting of record Las Vegas quarterly revenues and applicants lining up for work.
News Headlines
Add Event
Home Front Page Footer Listing
You May Like

You May Like