EDITORIAL: North Strip makeover
Soon the Echelon eyesore will be no more. As reported Monday by the Review-Journal’s Howard Stutz, Malaysia-based Genting Berhad will break ground May 5 on the $4 billion Resorts World Las Vegas hotel-casino, a project that promises to accellerate the redevelopment of the north Strip and wipe out a painful reminder of the Great Recession.
Genting bought the Echelon site from Boyd Gaming two years ago. Boyd had razed the Stardust to build the 5,000-room, nearly $5 billion Echelon development, but halted construction in 2008 when the economy collapsed. For nearly seven years, the steel skeleton has stood unfinished.
But Genting finally is ready to move earth and get to work on the first phase of Resorts World Las Vegas, which is projected to include 3,000 hotel rooms and a world-class garden along its Las Vegas Boulevard frontage.
The boost to the economy will be significant. The project will provide an estimated $1.5 billion in construction wages, and once open, 8,500 direct jobs. That will create significant demand for housing, retail and other industries.
The day before Genting breaks ground, the Riviera will close to make way for the Las Vegas Convention and Visitors Authority’s Global Business District project. Within a few years, the north Strip will look nothing like it does today. It will look a lot like the south Strip.
It isn’t just the economy that’s improving. Las Vegas is improving. Congratulations and welcome to the Strip, Genting.
