The 2.4-million-square-foot development is slated to be a 47-story, 1,000-room hotel that will include approximately 120,000 square feet of gaming and 90,000 square feet of retail in addition to multiple restaurants, meeting rooms and a spa/health club. A city fire station also would be on the site.

As previously reported the land for the casino-resort would be given to Forest City by the City of Las Vegas in trade for the nearby Queen of Hearts property, which is slated for a new $266-million City Hall. The deal calls for Forest City to develop the new City Hall for the city on a fee basis before it can begin developing the new resort. Forest City also owns a majority interest four blocks immediately south of the new City Hall sitethat it also plans to develop.

The new City Hall site is located on First Street between Lewis and Clark avenues, a short ways east of West Bonneville Avenue and Grand Central Parkway, an intersection where Clark County Government Center, Las Vegas Premium Outlets, World Market Center and the city's 61-acre, $6-billion Union Park redevelopment all come together.

The City Council is scheduled to consider various aspects of the Union Park casino-resort project next week. City officials hope that construction for the new City Hall will start sometime this year. The overall agreement with Forest City will go before the City Council in March, City Manager Scott Adams tells GlobeSt.com

The city's current administrative headquarters, covering approximately six acres along Stewart Avenue, would become available for redevelopment along with 12 acres of contiguous land previously planned for a sports arena. The property is expected to attract interest from redevelopers. CIM Group is currently planning to rehabilitate and expand the shuttered Lady Luck Casino between the existing City Hall site and the Fremont Street Experience.

NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.