We’re getting this question all the time now, in various incarnations. It seems everyone is noticing how much construction is going on, not only in the tourist corridor, but all over the valley. We wrote about the casinos under construction presently in the 3/25/07 QoD, so this answer concerns all the non-casino projects with price tags of more than $250 million currently under way. We’ve organized them according to how close they are to completion. (The basic list comes courtesy of the excellent weekly newspaper, the Las Vegas Business Press.)
The Signature at MGM Grand is a $1.2 billion three-tower hotel-condo complex going up on the lot that was once occupied by the MGM Adventure amusement park. Each tower has 576 junior, one-, and two-bedroom suites with only 16 units per floor. Construction began in October 2004 and the third tower will be completed in about a month.
Town Square is a $750 million project consisting of 1.5 million square feet of retail, entertainment, and hotel development on Las Vegas Blvd. S. at the intersection of 215. A 90,000-square-foot Rave multiplex cinema and a 229-room hotel are included. Ground was broken for Town Square in 2005 and it should be finished this fall.
One Lifestyle Condominiums, going up on the south Strip south of Windmill Lane, is a $500 million condo project consisting of five 18- to 21-story residential towers. The first tower is scheduled to open this November.
The seemingly never-ending widening of US 95 north of downtown is a $450 million state- and federal-financed road project that is supposed to be finished this fall.
Turnberry Towers is yet another Turnberry project on Karen Avenue, caddy-corner to its Turnberry Place project. (Turnberry is also involved in the Signature at MGM Grand and Town Square; Turnberry’s Las Vegas construction projects currently total $2.45 billion.) The two 45-story towers, housing 632 total units overlooking the Las Vegas Country Club, are costing $500 million and will be completed around a year from now.
Trump International Hotel and Tower, across from the back of the Fashion Show Mall, is costing $370 million and should be open exactly a year from now. (See QoD 3/20/07 for the details about Trump Tower.)
The World Market Center continues on an inexorable march toward completing eight buildings with 12 million square feet of wholesale furniture showrooms by 2012. The $370 million Building 3 is slated for a June 2008 debut.
The Beltway Business Park at Decatur and 215 is a $610 million office, retail, and industrial development. This 400-acre master-planned business park occupies more than a mile of freeway frontage along the Las Vegas Beltway (215); the 10-year project, now in its sixth year, when completed in 2011 will boast 3.5 million square feet of industrial buildings, 1.5 million square feet of office buildings, 200,000 square feet of retail buildings, and a technology park.
Sullivan Square is a $800 million residential project at Durango at 215. When completed in 2013, the development will feature six living options, including lofts, townhomes, condos, brownstones, high-rise towers, and live-work space, totaling 1,300 units.
City Crossing is a $1.5 billion six million-square-foot office, retail, and residential development with 2,500 units, planned for southwest Henderson at St. Rose Parkway and Executive Airport Drive. It’s scheduled to open in 2009 and be completed 2014.
Finally, the Arroyo, at $750 million, is a 450-acre retail, office, and light-industrial complex at 215 between Rainbow and Buffalo in the southwest valley. When completion in 2014, it will consist of 4.5 million square feet, including a million square feet in Arroyo Market Square, a 90-acre retail center.
