X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LAS VEGAS-Harrah’s Entertainment has been quietly conceiving an open-air, pedestrian-only avenue of food, drink and fun for the Las Vegas Strip. It would be molded from what is currently a side street across from the Bellagio that begins between the entrances to the company’s O’Sheas and Flamingo casinos and, in classic Vegas extravagance, would end at the largest Ferris wheel in the world.

Although it’s called “Project Link” internally, a source with Harrah’s tells GlobeSt.com it is still in concept stage and likely will remain that was for some time. There is a computerized rendering but thus far it has been released only to the Las Vegas Sun.

“There’s really no pedestrian-friendly, outdoor area on the Strip…and very few if anyone could deliver anything like it,” says the source. “Our landholdings and existing resort structure wouldn’t require us to remove a resort or a casino floor and take that revenue offline.”

The pedestrian-only walkway would extend approximately 1,000 feet in from the Strip on a jagged, diagonal path and be lined with 25 to 30 eating and drinking establishments. At the end of the walkway would be a 600-foot “observation wheel” similar to the London Eye or the Singapore Flyer, which at 541 feet is currently the tallest in the world.

“It’s a concept we’ve been holding onto for a couple of years,” the source says.

And with reasonably priced equity and debt nearly impossible to come by and preleasing activity almost nonexistent, Project Link likely will remain in conceptual form for at least another couple of years.

If it is eventually built, while Harrah’s likens it to Bourbon Street in New Orleans’ French Quarter, it’s hard not to liken it to something much closer, the Fremont Street Experience, currently the most successful open-air, pedestrian-friendly urban gaming and entertainment destination in the Las Vegas market. With several casinos, dozens of restaurants, on-street entertainment and a massive overhead video screen, Fremont Street annually lures 17 million visitors to historic Downtown Las Vegas–46% of all visitors to the region– despite the area being home to only 5% of the hotel rooms in the broader market.

“Anything that can help bring more people to Las Vegas as a destination is good for the whole market,” Fremont Street’s director of marketing Tom Bruny tells GlobeSt.com. “We believe we have a very compelling destination–including the largest video screen in the world and two concert stages–that is unique and cannot be duplicated or replicated on the Strip.”

Las Vegas Mayor Oscar Goodman and Frank Volk, a local retail brokerage executive with Strip leasing experience, also were contacted for this story but could not immediately be reached for comment.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.