Real-estate developer LVXP has announced plans for a multibillion-dollar entertainment and resort project on a 27-acre site along the Las Vegas Strip. The land, formerly home to the Wet ’n Wild waterpark, is just north of the recently opened Fontainebleau Las Vegas. South of the Fontainebleau is the Las Vegas Convention Center’s West Hall.
Plans for the mixed-use project include a 2,500-room “ultra-luxury” resort, convention space, retail space, casino, and a sports arena with up to 20,000 seats, which developers hope can become home to an NBA franchise.
According to a report in the Las Vegas Review-Journal, the as-yet unnamed resort could top out at nearly 1,200 feet. If it does, it would be the city’s tallest tower, outdoing The Strat, formerly the Stratosphere, which is 1,149 feet. No renderings have been released.
LVXP CEO James Frasure Jr. intends to submit permitting requests to Clark County by July and hopes to complete the permitting process by August and break ground late this year or in early 2025, according to the Review-Journal.
Another LVXP principal, Chief Construction Officer Nick Tomasino, spent more than five years as senior vice president of construction for Madison Square Garden Entertainment, where he directed development of the city’s new landmark music and entertainment arena The Sphere.
“This is a well-conceived project that has the potential to transform a valuable undeveloped land parcel into a highly productive destination that contributes meaningful long-term value to the community and visitors alike,” said Clark County Commission Chairman Tick Segerblom in a release announcing the development.
