Las Vegas Plaza
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This article or section contains information about expected future buildings or structures. Some or all of this information may be speculative, and the content may change as building construction begins. |
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The Las Vegas Plaza is the working name for a future $5 billion to $8 billion multi-use ultra-luxury hotel, private residences, retail and gaming complex to be developed on the Las Vegas Strip by ElAd Properties[1]. Construction will begin in early 2008 and is expected to be completed in 2011.
It will be built on the 34.5 acre site of the former New Frontier Hotel and Casino which closed July 15, 2007. ElAd purchased the New Frontier for $1.2 billion from Phil Ruffin in a deal announced May 15, 2007. This property purchase set a new record for Strip land at over $33 million an acre.[2]
The Plaza name comes from ElAd's flagship property, the Plaza Hotel in New York City. The company's current design plans for the Las Vegas complex are based on the New York Plaza.[1]
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[edit] History
On December 16, 2007, Elad put their plans for The Plaza before the Clark County planning commission for approval. The plans include:[3]
- Seven towers containing 6,700 keys (4,100 hotel rooms and 2,600 resort condominium units)
- 175,900 square feet (16,340 m²) of casino area (making it the largest casino on the strip and second largest in the valley)
- 134,500 square feet (12,500 m²) of restaurant area
- 347,887 square feet (32,319.8 m²) of retail area
- 539,607 square feet (50,131.1 m²) of convention space
- 50,000 square feet (4,600 m²) of a health club
- 1,500 seat theater
- 227,038 square feet (21,092.5 m²) of open space on the roof top of the podium that includes the pool areas.
The grand total for the project includes 3,317,400 square feet (308,200 m²) of parking garages and a total area of 15,080,846 square feet (1,401,056.4 m²).
[edit] Lawsuits
[edit] August 2007
In August 2007, a lawsuit was filed against ElAd Properties by the Tamares Group, owners of the Plaza Hotel & Casino in downtown Las Vegas, which alleges that the new property's name infringes on the current Plaza's trademark. [4]
[edit] David Atwell
Depositions have been taken in a case filed by resort Properties of America broker in U. S. District Court. Resorts longtime Las Vegas broker David Atwell is seeking $12 million plus damages for unpaid fees. He claims he initiated the $1.24 billion sale of the New Frontier to Elad from owner Phil Ruffin, Atwell has had dealings with Steve Wynn, Caesars Palace, Sheldon Adelson to name a few. Atwell's attorneys will call Elad president Miki Naftali and founder Yitzhak Tshuva for depositions in the coming new year.[citation needed]
[edit] References
- ^ a b Nakashima, Ryan. "Vegas' New Frontier to Become History", Associated Press, 2007-11-12.
- ^ Stutz, Howard. "MORE THAN $1.2 BILLION: New Frontier sale sets record", Las Vegas Review-Journal, May 16, 2007.
- ^ The Plaza Las Vegas
- ^ Spillman, Benjamin. "What's in a name? Owners of Plaza say plenty", Las Vegas Review-Journal, August 10, 2007.
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