All Net Arena Site in Las Vegas Could Be Home to City’s Tallest Resort

Article by : Erik Gibbs Apr 30, 2024

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In a bid to rejuvenate the vacant site of the failed All Net Arena project on the iconic Las Vegas Strip, LVXP, a consortium of real estate developers, has unveiled ambitious plans for a transformative project.

Acquiring the 27 vacant acres at 2601 S. Las Vegas Blvd. in January, LVXP has set its sights on creating a multibillion-dollar, 2,500-room luxury resort alongside a state-of-the-art, 20,000-seat arena that could potentially host NBA games, concerts and other entertainment events.

The proposed development’s centerpiece is the luxury resort, designed to offer comfortable accommodations and complemented by LVXP’s own retail and restaurant plaza, promising an enhanced guest experience.

This project not only aims at elevating Las Vegas’ entertainment scene but also underlines LVXP’s commitment to contributing to the city’s legacy.

James R. Frasure Jr., CEO of LVXP, has emphasized the project’s significance, envisioning it as a pivotal destination embodying Las Vegas’ essence while delivering lasting benefits to the community. Frasure’s commitment is motivated by the project’s potential impact beyond commercial success.

A notable addition to the project is the inclusion of a casino within the resort, a feature absent from previous proposals for the site. This addition could significantly bolster the project’s appeal to visitors and further solidify its success within the competitive Las Vegas entertainment landscape.

Steelman Partners, a firm celebrated for its work on prominent Las Vegas projects, is entrusted with the resort’s architectural design. However, despite the comprehensive vision, crucial details remain undisclosed. Information regarding development costs, the hotelier’s identity, purchase price, and even the project’s official name has yet to be revealed.

This lack of transparency leaves stakeholders curious about the project’s financial and operational aspects. Moreover, the absence of project renderings is surprising and deviates from standard industry practice. Without visual representations, stakeholders are left to speculate on the project’s aesthetic and design features, which could influence their perception and anticipation of the development.

Yet, LVXP’s vision extends beyond physical dimensions, aiming to secure Federal Aviation Administration approvals that could potentially make the resort the tallest structure west of the Mississippi River.

With individuals like James R. Frasure Jr., Christine Richards and Nick Tomasino leading the endeavor, LVXP brings a wealth of diverse experiences to the table.

Despite the lack of specific details or established developers associated with the project, it has garnered an early endorsement from Clark County Commission chair Tick Segerblom. Segerblom’s support indicates recognition of the project’s potential to revitalize the vacant land parcel, transforming it into a valuable destination for both locals and tourists.

The site’s history, marked by a series of failed development plans since the closure of Wet ‘n Wild waterpark in 2004, underscores the challenges associated with such ventures. However, LVXP’s ambitious proposal signals a renewed hope for the site’s transformation and the revitalization of the Las Vegas Strip.

LVXP’s proposed project represents a significant step towards revitalizing the Las Vegas Strip, promising a blend of luxury, entertainment, and community benefits. While some details remain undisclosed, the project’s vision, leadership team and endorsements signal a promising future for this ambitious endeavor, potentially reshaping the landscape of Las Vegas’ entertainment scene.