LVXP aims to build a 2,500-room luxury resort anchored by a sports arena with up to 20,000 seats, in what could be the tallest development in Las Vegas.
The locally based developer plans to build its unnamed resort on a 27-acre site where the former Wet ‘n Wild waterpark formerly stood at 2601 South Las Vegas Boulevard, south of the Sahara casino, the Las Vegas Review-Journal reported.
The proposed project replaces long-held plans by former NBA basketball player Jackie Robinson to build a $5 billion All Net Resort & Arena, which died last fall after the Clark County Commission denied a fourth extension request.
LVXP, an “experiential-focused” development firm founded early last year, leapfrogged on the sports arena concept, with plans to build a much bigger resort. Its project could also be home for a new NBA basketball franchise, according to the firm.
Preliminary plans announced this week call for a 2,500-room hotel resort and casino that could soar to nearly 1,200 feet, topping the city’s tallest Strip resort, according to the Review-Journal. The nearby Fontainebleau rises 735 feet. The Strat, formerly the Stratosphere, is the city’s tallest tower at 1,149 feet.
The LVXP project, designed by locally based Steelman Partners, would include an “NBA ready” sports and entertainment arena with between 18,500 and 20,000 seats.
The development would also include a casino, convention facilities, a shopping plaza and restaurants that would spotlight Las Vegas chefs. An underground parking garage would serve an unspecified number of cars.
LVXP, led by James Frasure Jr., said the project would prioritize sustainable development and green initiatives. A potential hotel operator, as well as the cost of the “multi-billion dollar” project, were not disclosed.
The firm looks to dust off Federal Aviation Administration approvals granted in 2008 allowing construction up to just under 1,200 feet.
“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 Commission Chairman Tick Segerblom said in a statement.
Frasure closed a deal for the 27-acre site in January from the Lowden family, former owner of the Sahara, for an undisclosed price. It’s not clear if it was Frasure, or LVXP, that bought the property.
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He said he intends to submit permitting requests to Clark County by July. Pending approvals, he expects to break ground late this year or early next year.
Nick Tomasino, chief construction officer for LVXP, served as senior vice president of construction for New York-based Madison Square Garden Entertainment, where he oversaw the construction of the Sphere, an entertainment arena that opened last fall, east of the Las Vegas Strip.
Steelman Partners has designed casino-resorts worldwide, including the Circa in Downtown Las Vegas, Crockfords at Resorts World Las Vegas on the Strip, the Darling Resort and Casino on Australia’s Gold Coast and The Grand Resort and Casino on the Ho Tram Strip in Vietnam.
— Dana Bartholomew