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LAS VEGAS-A one-million-sf mall will be integrated into the M Resort, Spa and Casino under construction on Las Vegas Boulevard, 10 miles south of that six-mile stretch of the boulevard known as the Las Vegas Strip. Developer Anthony Marnell III said Wednesday that Taubman Centers, which owns no properties in Las Vegas, will assist with the last-minute addition to the resort, and that additional details on the project will be revealed during the International Council of Shopping Centers annual convention here next week.

Marnell did not say whether the mall addition would alter some of the other previously approved plans. A source associated with the developer tells GlobeSt.com that “if anything, the project will move forward faster than planned.” An official with the City of Henderson tells GlobeSt.com the overall development is entitled for one million sf of non-casino retail but the developer would still have to obtain multiple approvals for any design changes and no revised designs have been submitted as yet.

As of December, the first phase of M Resort was to cover 40 of the 80 acres Marnell owns at Las Vegas Boulevard and St. Rose Parkway with an 11-story building housing 390 rooms and suites, 90,000 sf of gaming space and approximately 40,000 sf of meeting and conference space. Additional amenities included a 20,000-sf spa and outdoor pool, a top-floor lounge and multiple dining and entertainment options. The second phase called for an additional 600 hotel rooms, nearly 2,000 condominiums in multiple mid-rise towers and additional entertainment offerings.

The news is the first about the resort since December, when Marnell announced that it had struck a deal with Galaxy Theaters for a 14-screen, 63,000-sf movie house on the casino level that would be up and running about six months after the rest of the resort’s $1-billion initial phase, which is scheduled to open in early 2009. The overall project cost has been estimated at closer to $2 billion.

Developer Anthony Marnell III is the son of casino developer and builder Anthony Marnell II, whose firm Marnell Corrao Associates built Wynn Las Vegas and Bellagio and is designing and building M Resort. MGM Mirage has a stake in the project by way of a $160-million subordinated convertible note it provided in April 2007. The note matures eight years from its effective date and contains certain optional and mandatory redemption provisions. MGM Mirage has the right to convert the note into a 50% equity interest in the M Resort after 18 months of the note’s issuance if not previously repaid.

Despite being 10 miles south of the Strip, M Resort will not be the only game in the area. Catty-corner from the site Olympia Gaming is planning to develop Southern Highlands Resort. Olympia received approval for the 100-acre, $2-billion mixed-use project in 2006 from the Clark County Commission. The $750-million first phase is slated to include 600 hotel rooms and an undisclosed amount of retail, entertainment and convention space.

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