LAS VEGAS (KSNV) — A real estate development company has proposed building a massive new resort and sports arena on the Las Vegas Strip site that was once targeted for the now-scuttled All Net Resort complex.
LVXP announced plans to develop a multi-billion-dollar resort on the 27-acre site at 2601 S. Las Vegas Blvd., located between Fontainebleau and SAHARA Las Vegas.
According to a press release, the resort will include an arena that could accommodate an NBA team, plus “ultraluxury hotels and residences,” a retail plaza, convention space and a casino.
“We are honored to be stewards of this significant milestone in the city’s legacy,” James R. Frasure Jr., LVXP’s CEO, said in a statement. “Our commitment is to create a destination that captures the essence of Las Vegas and provides lasting benefits for the community.”
In addition to Frasure, the leadership team will include chief construction officer Nick Tomasino, formerly senior vice president of construction for Madison Square Garden Entertainment. Las Vegas-based firm Steelman Partners will design architectural plans.
“This is a well-conceived project that has the potential to transform a valuable undeveloped land parcel into a highly productive destination that contributes meaningful long-term value to the community and visitors alike,” Clark County Commissioner Tick Segerblom said in a statement.
The address was the former site of the Wet ‘n Wild water park. The park closed in 2004 and the land has been eyed for other several projects, all of which fizzled out.
The most prominent was All Net Resort & Arena, a development first announced in 2013 with backing from UNLV basketball alum Jackie Robinson. Groundbreaking was held the following year, but no significant progress was made beyond that point.
After issuing several extensions, the Clark County Board of Commissioners denied All Net’s extension request this past fall, effectively ending the project.
This post was originally published on 3rd party website mentioned in the title of this site