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Las
Vegas, NV – October 2021 / Newsmaker Alert / Joint-venture partners,
Shopoff Realty Investments (Shopoff),
and Contour, announce that they
have successfully secured necessary entitlements for the full development
of Dream Las Vegas, paving the way for the next step in completion of a
new full-service luxury lifestyle resort and casino. The property is situated
on a prime 5.25-acre lot positioned on the south end of the world-famous
Las Vegas Strip, at 5051 S. Las Vegas Blvd.
“After working closely with
Clark County Board of County Commissioners, McCarran Airport and the Clark
County Department of Comprehensive Planning we are pleased to have been
able to secure entitlements for Dream Las Vegas that are mutually beneficial
to Clark County as well as our partnership. We believe that this project
will be a stellar example for future development on the south end of the
Strip,” explained Shopoff Realty Investments’ President and CEO William
Shopoff.
Branded and managed by Dream
Hotel Group, the 19-story Dream Las Vegas will bring 526 well-appointed
rooms and suites when complete in the third quarter 2024. Additional amenities
will include gaming, dining and nightlife venues, a pool deck, retail experiences,
meeting rooms and a fitness center.
“As a Las Vegas native, born
and raised, I know first-hand the benefits Dream will bring to the Strip,”
said Contour Chief Executive Officer David Daneshforooz. “Dream Hotel Group
will bring the same magic to Las Vegas as they have to their other locations
– a curated entertainment destination in a well-designed intimate environment
for both locals and visitors to enjoy.” Daneshforooz continues, “This will
be a departure from the mega-themed resort concept, ushering in a new era
of hotel/casino design for Las Vegas.”
Spanning both stateside and
international locations, Dream Hotels offers on-property dining and entertainment
that embody their locales’ distinctive character, from the bustling atmosphere
of New York City to the colorful streets of Bangkok.
McCarthy Construction will
manage the design and construction of the new resort and casino, with the
project set to start excavation in the second quarter 2022. The project
is anticipated to bring more than 1,200 construction jobs as well as 785
staff positions once the hotel opens in the third quarter 2024.
Nearby establishments include
Mandalay Bay Resort, the new Allegiant Stadium (home to the National Football
League’s Las Vegas Raiders), T-Mobile Arena (home to the National Hockey
League’s Las Vegas Golden Knights), as well as the numerous hotels and
casinos along South Las Vegas Blvd.
About Shopoff Realty Investments
Shopoff
Realty Investments is an Irvine, California-based real estate firm
with a 29-year history of value-add and opportunistic investing across
the United States. The company primarily focuses on proactively generating
appreciation through the repositioning of commercial income-producing properties
and the entitlement of land assets. The 29-year history includes operating
as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments
(formerly known as The Shopoff Group). Performance has varied in this time
frame, with certain offerings generating losses. For additional information
on Shopoff and its projects, visit www.Shopoff.com,
follow the company’s LinkedIn
page, or call (844) 4-SHOPOFF.
Media Contact:
Julie
Leber
949-427-1391
About Contour
Contour is a privately-owned
commercial real estate investment and development company formed in 2018
as the vertical development arm of a family-owned land-trade business established
in 1987. The company is a vertically integrated opportunistic real estate
firm that develops, owns and operates property throughout the United States.
Contour’s decisions are guided by market-leading research and a commitment
to precise execution while remaining entrepreneurial in its approach to
opportunity. Contour’s executive management team has over 60 years of experience
spanning more than 75 million square feet and $36 billion across all asset
classes. Contour’s California office is located at 3200 Park Center Drive,
Suite 1240 Costa Mesa, CA 92626. For more information about the company,
its team and its work, visit Contour.
Media Contact:
Angela
Trantham
818-554-6296
About Dream Hotel Group
Dream Hotel Group is a hotel
brand and management company with a rich, 35-year history of managing properties
in some of the world’s most highly competitive hotel environments, including
New York, Los Angeles, Miami, Bangkok and most recently Nashville. Home
to its Dream Hotels, Unscripted Hotels, The Chatwal and new By Dream Hotel
Group brands, Dream Hotel Group encompasses three business lines: Proprietary
Brands, Hotel Management, and Dining & Nightlife. The company is committed
to the philosophy that forward-thinking design, service and guest experiences
should be available across all market segments. Dream Hotel Group is dedicated
to offering travelers an authentic connection to their chosen destination
through a truly original approach. For more information, visit www.DreamHotelGroup.com
and follow @DreamHotelGroup on Twitter. |