Launch for Las Vegas hotel project

December 26, 2017 by  

A hotel complex is being built near the Strip on behalf of a developer from the area.

The commissioners of Clark County gave their consent to the initiative nearly a full year ago. The accommodation will include 250 hotel rooms, but lots of apartments will be provided on the same site. There will also be plenty of retail space within the complex.

The site is almost nine acres in area. The location was meant to be used to build a tower of luxury condominiums, but the scheme fell through as the economic situation changed. The land was then purchased by Chris Beavor, the founder of CAI Investments. Beavor spent $13.5m to get hold of the space.

Commission Chair Steve Sisolak told the Las Vegas Review-Journal:

“This corner has remained vacant for a long time, and it’s exciting to see something happening here.”

Many suburban apartment projects are changing the layout of Las Vegas. A few initiatives of this sort are taking place in urban districts. At the same time, a few hotels not connected with gaming have been built recently. Nevertheless, it remains quite unusual for investors to embark on hotel projects near the center of the place.

The idea is that the hotel will be completed in 2020. A rooftop deck should give the building something special. Tenants for the retail area have already been approached.

Brochures are often used to showcase new hotels in Nevada.