Grand Hyatt Las Vegas Will Operate Cosmopolitan Condos
At a ceremony held before a gathering of Las Vegas local officials, dignitaries, business leaders, and members of the media, Hyatt and The Cosmopolitan Las Vegas condos executives, using a large backhoe, cracked through the asphalt to mark the beginning of an approximately three year Las Vegas real estate construction process. The Grand Hyatt Las Vegas at The Cosmopolitan Resort & Casino condos is projected to open in mid-2008. Hyatt will operate the property’s 3,000 hotel rooms, suites and condo-hotel units.
“Few addresses on the Strip have a better location,” said Thomas Pritzker, chairman and CEO, Global Hyatt Corporation. “Hyatt is thrilled that it will be offering customers a unique ‘Vegas’ experience in Grand Hyatt style that includes impeccable service, and exceptional facilities for leisure and business travelers.”
“The Cosmopolitan Las Vegas homes represents a new era in Las Vegas commercial development,” said Ian Bruce Eichner, CEO of 3700 Associates, LLC, the developer of The Cosmopolitan condos. “We’re building something different on The Strip, the likes of which Las Vegas has never seen before and may never see again. The sheer ‘verticality’ of this development as it towers 600 feet above The Strip is more akin to the urbanization of Manhattan, or other cosmopolitan cities around the world,” said Eichner, who spent the past 30 years developing more than six million square feet of luxury high-rise residential, office, hospitality, and retail space in such prominent locations as New York City and Miami Beach.
At the height of construction, the Las Vegas Cosmopolitan project will generate approximately 3,000 construction jobs and stimulate millions in tax revenues. Upon opening in mid-2008, Grand Hyatt Las Vegas and The Cosmopolitan Las Vegas condos will create approximately 2,400 jobs at its center Strip location.
Grand Hyatt Las Vegas at The Cosmopolitan Resort & Casino condos, one of the many announced hotel projects along the emerging Harmon Avenue corridor, will be the first to open in mid-2008. The property will redefine Vegas’ skyline with a vertical design that contrasts sharply with the horizontally developed, replicated cities and themed hotels that bracket Las Vegas Boulevard. Located down the strip from Hilton Grand Vacation Club Las Vegas.
To support this view, today Pritzker and Eichner unveiled an intricately constructed scale-model of the entire Cosmopolitan real estate condo project. The pair highlighted the two high-rise hotel and condo-hotel towers which will stand approximately 600 ft. tall and include approximately 3,000 luxury Las Vegas hotel rooms and suites and condo-hotel residences; over 150,000 sq. ft. of integrated, business convention and conference space; a 75,000 sq. ft. casino; 300,000 sq. ft. of exclusive and brand-name retail boutiques and fine-dining restaurants; an 1,800 seat theater; a 500 seat cabaret; a 50,000 sq. ft. exclusive spa, salon and fitness center; multiple Las Vegas night club venues; and a 3,800-car underground parking structure. Chief among these attractions is The Cosmo Beach Club, a five-acre pool deck overlooking the Strip, featuring al fresco dining, a riveting Las Vegas night club, and aquatic designs never seen before in Las Vegas.
“In the days and weeks to come, we will be making many exciting announcements about the mix of retail stores and restaurants at The Cosmopolitan,” said David Friedman, President of 3700 Associates, LLC. “The tenants will be powerful names that have not been to Las Vegas before and will come from well-known shopping and dining destinations such as New York, Los Angeles, Miami, San Francisco, and Chicago in the US, as well as London, Paris, Barcelona, and Milan abroad,” Friedman added.
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Las Vegas Grand Hyatt will operate Cosmopolitan Las Vegas condos.
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