The Plaza Las Vegas $5 Billion Resort Received OK From Clark County

The Plaza New FrontierThe Plaza Las Vegas $5 billion resort received preliminary round of approval from the Clark County Planning Commission this week approving the development of the commercial real estate in Las Vegas, NV.

Believe it or not in Las Vegas casino news,The Plaza is expected to be the the Strip’s largest casino on the 34.5 acres of land, previous site of the New Frontier, and adjacent to Trump Tower Las Vegas NV, hotel. The Wynn Resort has a 110,000 square foot Strip casino, Bellagio 160,000 square foot casino and The Plaza topping the list at 175,900 square foot gaming area.

The luxury resort is expected to open in four years with construction set to start late in 2008. Final approval by the Clark County commissioners is ready for January 16, 2008.

The mixed use real estate project is a joint venture between Property and Building Corp., a subsidiary of IDB Holdings Corp. and Elad Group from New York. The name given to this jv partnership is Elad IDB Las Vegas.

The plan for the mega resort is designed after the famed Plaza Hotel in New York City, New York. It will have six towers of French Renaissance architecture, 671 feet high, an additional tower at 577 feet, 2,600 luxury condos and 4,200 hotel rooms.

The hearing with the commission discussed shared costs of the pedestrian bridges with Boyd Gaming Corp. and Wynn Resorts Ltd. This would definitely help quicker flow between, The Plaza and Wynn Las Vegas, east of the project, $4.8B Echelon, north of the site.

The resort is expected to generate renewed interest for other projects on the north Strip. These include the nearby $1.8B Palazzo, $2.1B Encore and $2.8B Echelon and Fontainebleau resorts.

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The Plaza Las Vegas $5 Billion resort received preliminary approval from Clark County.

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