BluefoxToday blog : May 2008

New convention center in the works for Las Vegas

Steve Wynn has been called a visionary who has in many ways changed the flavor of Las Vegas for the better as it has evolved into an electrifying entertainment and gambling resort known world over. His development of the Mirage in the early 1990's is said to have started the era of the mega resort and then he followed that up with a few other nice properties.

Now he's at it again, with a somewhat different aim. He wants take the convention business in Las Vegas to new heights. Improve the meeting attendant's experience by a few leaps when he sets foot on property at Wynn Las Vegas.   

His plan right now calls for a huge event facility with up to 1.8 million sq. ft. of space and two hotel towers featuring 5,200 rooms to be built on the existing golf course spreading out behind Wynn Las Vegas. By being apart from the rest it could even get its own name before construction begins, although no date has been set for that yet.

His idea here is to keep the guest rooms as close as possible to the exhibit space for attendee convenience. The area would have a water attraction with fountains and emulate a non-urban setting. The attempt clearly is to minimize disruptions such as casinos, bars and urban challenges like long walks and transportation headaches. These are all very positive steps for any trade show visitor.

In addition, the facility would be next to the Las Vegas Convention Center and the Sands Expo and Convention Center and that would put three event centers totaling over 5 million sq. ft of space in elbow-to-elbow proximity of one another. To help with transportation, the plan includes an underground rail system from his property to the Las Vegas Convention Center. Some draft.

The plan was mum on any condominium component that nowadays is often part of a major development in Southern Nevada, like the MGM Mirage's CityCenter. Maybe it is that the market is considered over-saturated, which it right now is. However, a couple of years further along it could be viable again and the condos could still be added as the plan matures toward completion.   

 

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Provided by: 

Esko Kiuru
Mortgage, real estate and apartment industry analyst 

www.BluefoxToday.com - syndicated mortgage, housing and property management blog

eskokiuru@gmail.com
My cell: 702-499-1006

Comment balloon 3 commentsEsko Kiuru • May 06 2008 01:21PM
New convention center in the works for Las Vegas
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