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Strip property owner plans new retail complex

Updated August 12, 2022 - 6:43 am

A property owner on the Strip has drawn up plans for a retail complex spanning more than 300,000 square feet along Las Vegas’ famed casino corridor.

New York investment firm Gindi Capital is looking to develop the three-story project on the east side of Las Vegas Boulevard just south of Harmon Avenue. It would replace a cluster of existing properties, including the now-closed Hawaiian Marketplace.

The Clark County Commission is scheduled to consider the plans Aug. 17.

According to county documents, the 95-foot-high project would span 302,613 square feet and include retail shops, restaurants, supper clubs, service bars and outdoor entertainment space.

Moreover, a “future hotel may be submitted at a later time to be located at the rear of the building” but is not part of the current plans, according to a July 5 letter from the landlord’s representative to the Clark County Comprehensive Planning Department.

An attempt to speak with Gindi about the proposed retail complex was unsuccessful Thursday.

The project would reshape a busy stretch of the Strip that gets heavy foot traffic and is near several megaresorts. Plans for the new complex do not come as a surprise, either.

Gindi acquired the roughly 9.5-acre property in 2019 for $172 million. When it announced the purchase, the firm said it was working with its design and development teams to “unveil plans for a new flagship retail, entertainment and dining experience.”

The landlord also said in a June lawsuit against the owner of a former business in Hawaiian Marketplace that “construction is imminent” and that it would “begin demolishing structures” by Aug. 15.

Meanwhile, Gindi’s project site is just south of a 6-acre spread that Houston billionaire Tilman Fertitta acquired in June for $270 million.

Sources previously told the Review-Journal that Fertitta is looking to build an upscale hotel.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

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