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The purchase of the Las Vegas Strip for 80 million $ adds to the revival of the resort's corridor

Date posted: May 2, 2021, 02:48 hrs.

Last Updated: May 2, 2021 02:59 a.m.

Larry Henry

A Las Vegas-based developer, which has signed a deal to buy two acres of land on the Las Vegas Strip, plans to add restaurants and retail stores at the location. This adds another design proposed for the resort corridor.

The CityCenter complex rises above the west side of the Las Vegas Strip. A multi-storey commercial and restaurant building is to be built on the site. (Picture: New York Times )

Brett Torino and senior executives at New York's Flag Luxury Group are buying two acres at CityCenter for approximately $ 80 million from MGM Resorts International, according to Las Vegas Review- Journal. There are plans to build a complex with shops and restaurants on site.

The small plot is located near the shops at ul. Crystals Mall on the southwest corner of the Strip and Harmon Avenue. Among the luxury shops in the mall are Dior, Cartier and Gucci.

This location is south of the Cosmopolitan of Las Vegas.

In 2012, Torino and Flag Luxury opened a retail project on the opposite side of the Strip, according to the newspaper. Dubbed the Hawaiian Marketplace, this development includes Walgreens, a daiquiri bar, a tattoo shop, and more.

Pizza and sports betting

The new project is to be built on the site of the former Harmon hotel tower. The newspaper reported that this structurally flawed investment was later dismantled.

Decades ago, before the area was known for its luxury shops, the Pizza Tower stood in this general neighborhood. The Italian restaurant and bar were popular in the 1960s and '70s with Las Vegas residents, celebrities and underground figures.

Former Tower of Pizza employee Scott Schettler, longtime Las Vegas office worker and book author We were sages and Didn t Know It, He said customers can order food over the phone while placing a sports bet.

Resorts World Grand Opening

The sale of the new project is scheduled to be completed by June. While construction is in progress, it will become part of the Stripie revival. Florida-based Arquitectonica is tasked with creating a design that will match the appearance of the CityCenter, according to KSNV-TV.

North of this side, the 3, 5,000-room Resorts World Las Vegas is slated to open on June 24. Resorts World is located on the northwest end of the Strip, where the demolished Stardust Casino once stood.

These changes are taking place as part of the nationwide COVID implementation - 19 vaccinations and stimulus controls have spurred tourism in the city.

The $ 4.3 billion Resorts World is the most expensive project in The Strip history, overshadowing $ 4.1 billion of Cosmopolitan. Resorts World will be the first casino hotel to be built on the Strip since the late Cosmopolitan 2010 opening. Resorts World is expected to open as a restricted-smoking resort where smoking will only be allowed in gaming zones.

Also on the Strip, Las Vegas developer Jackie Robinson, a former NBA basketball player, plans to build a no-game hotel and entertainment complex on 27 acres of empty land south of the Sahara desert in Las Vegas. The application also requires 22, 000 - sports hall with a seat. The developers hope to attract the NBA team to southern Nevada.

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