Element hotel in Summerlin real estate has finished the franchise agreement for LaPour Partners to own and operate. Starwood Hotels & Resorts has branched out into a new extended stay brand called Element. The Element hotel will be a new 123 room hotel on the Western side of the Las Vegas valley.
The Element branded hotel by Starwood will be the first hotel built and owned by a developer Jeff LaPour of LaPour Partners. Starwood owns and operates one other Element in Lexington, MA.
The Summerlin hotel will be built at Town Center Road and Interstate 215 next to the Nevada Cancer Institute. Expected ground breaking for the development is within the next three weeks with an opening sometime in October 2008.
The real estate estimated value is $25 million at completion, or $203,000 per unit. Late last year the land in Las Vegas, Nevada was purchased for $19 million. Some hotel amenities include a business center, 800 square feet of meeting space and a fire pit. An interesting concept is guests can customize the room’s furniture. An oversized spa shower and complete kitchen will complete this extended stay room.
LaPour’s additional development will be an office of which he received the building permit last month. This location is at Interstate 205 and Russell Road in the southwest. Similar to other developers building certified “green” projects, most notably Project CityCenter, LaPour wants his office building to be a first.
A flex office project named Decatur Crossing is on phase three by LaPour. There are two buildings with 112,000 square feet oc commercial real estate in this phase. The current total stands at 367,000 square feet. Future development plans are in the works.
Element hotel in Summerlin Las Vegas progresses with franchise deal.