Are There Any Plans to Complete the St. Regis Tower at the Venetian?

Las Vegas Sands owns the Venetian and Palazzo at the Strip, but are they planning to do anything with the St. Regis tower?

A couple days ago, we talked about the long-unfinished Resorts World and The Drew. Today is almost a Part Two about the unfinished St. Regis.

“We’re going to do something. We just don’t have the answer,” then-Las Vegas Sands COO Michael Leven told the Las Vegas Review-Journal in 2014. Four years later, Leven is gone, former boss Sheldon Adelson has bought the R-J, and Sands is no closer to solving the riddle of the St. Regis.

Budgeted at $600 million for 400 units, the St. Regis came to a screeching halt in November 2008. For a long time, bare steelwork was a stark testimony about the real-estate crash until Leven came up with the idea of draping the framework with a trompe l'oeil tarpaulin that looks like the façade of a completed building.

Umpteen quarterly investor conferences later, the St. Regis remains conspicuously unmentioned. As best we can determine, Adelson has determined that his money (he is Sands’ majority shareholder) is best spent in Macau, where he has opened — irony alert — a St. Regis condo tower, as well as the Parisian megaresort, projects that dwarf the Strip version of the St. Regis in cost, but also in potential return on investment.

Whatever the failed St. Regis becomes (aside from being a strange toupée to the world’s ritziest Walgreens), condos are not it: “The numbers didn’t work out,” Leven told the R-J. So for now it’s a monument to the condo craze of 10 years ago and as for its future, if Sheldon Adelson knows, he isn’t telling. (Nor are his PR people: Our inquiry about the St. Regis was met with a deafening silence from chief spokesman Ron Reese.)

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Dave Sep-06-2018

Cranes?

Cranes have move in on site recently. The official word is that they are there to work on the Venetian’s pool complex once swim season ends. 

That simply doesn’t add up. What sort of pool work requires tall cranes? And even if true? Why are they on site so early?

Something very fishy going on at LV Sands....

ocliffgirl62 Sep-06-2018

St. Regis Tower

Is this the part of the Venetian that was supposed to be smoke-free?  I recall someone there telling me they were going to build another tower and it would be smoke-free some five or six years ago.

Roy Furukawa Sep-06-2018

Unused land costs something too

They can't do ultra-luxe suites and not make money on the space? Lots of people pay for the privilege and I can't imagine Venetian has trouble finding those individuals.

Question of the Day - 06 September 2018

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