Is the huge casino project in front of Grand Chateau dying?

[GetawaysRus]

I own at MGC, and I've read about a major casino/hotel development project on the Strip in front of MGC. I've been concerned that this might destroy the view of the Strip from MGC. That view is one of our favorite things about Grand Chateau.

I just saw this article dated November 24, 2023:

https://www.thestreet.com/travel/key-las-vegas-strip-project-meets-a-painful-death

Here's an excerpt:
"Huge Las Vegas Strip project won't be happening

The end of a major Las Vegas Strip project creates a lot of questions about another Sin City dream.

Construction on the Las Vegas Strip rarely takes a fully linear path.

It's a difficult place to build because all materials must be shipped into the desert city and every construction plan faces both legal and financial hurdles. It's not uncommon for major construction projects to get announced and then go months, even years, before any work gets done.

That's the case currently with the huge casino project planned by Houston Rockets owner Tilman Fertitta...."
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Next I checked if this is the land in front of Grand Chateau. Look at https://thenevadaindependent.com/ar...sion-on-development-of-las-vegas-strip-resort

This second article (from March 2023) says:
"Fertitta, whose holdings include the Golden Nugget casino chain, said last year he intends to build a 43-story, 2,420-room hotel-casino on a (6 acre) plot at the southeast corner of Las Vegas Boulevard and Harmon Avenue that he purchased for $270 million."

 

[dioxide45]

This article seems to be pretty light on details and speculative on what if any planned projects could get cancelled. It references an NBA arena, a hotel near the airport, the planned site of the Golden Nugget on the strip as well as the Hard Rock Casino. They were actively working the land and there were steel structures at the site in front of Grand Chateau when we were there in Septemner.

 

[Fallenone]

We just stayed in MGC yesterday. There is a land that is sort of fenced off right in front of MGC, but no construction activities whatsoever - no workers, no materials, no construction vehicles.

 

[dioxide45]

We just stayed in MGC yesterday. There is a land that is sort of fenced off right in front of MGC, but no construction activities whatsoever - no workers, no materials, no construction vehicles.

Is there still steel frame of a building at the south end of the plot?

 

[dioxide45]

It seems they just got permits finalized in October?

Billionaire seeks permits to begin work on Strip resort site

One year after getting inital approval, Clark County records show permits have been applied for to begin work on the 43-story resort.

www.reviewjournal.com

The owner seems pretty deep with newly acquired real estate holdings and plans to build more casinos. Perhaps he is now over leveraged. As long as Saltgrass Steakhouse survives, I will be fine.

 

[dougp26364]

We’ve been going to Vegas since 1998. While it’s always exciting to hear about the latest, newest project. I typically take a wait and see approach. Interest rates are pretty high compared to what they had been when the project was first envisioned. Could be they’re waiting in more favorable financing before beginning the build.

There have been more than a couple of proposed builds on that site, including an Elvis themed casino. There has been speculation over what will eventually be built on the old New Frontier site, which has stood vacant for several years now. There was once plans for the “new” strip down the Harmon corridor because all the land on LV Blv was either occupied or had “firm” plans for new construction. We just don’t hold our breath or get excitable about anything announced for the Las Vegas strip these days. Much is announce. Very little ever sees the light of day.

If I where a betting man, my bet would be the new Las Vegas A’s stadium gets completed on the old Tropicana site before they even break ground on anything new on the plot in front of Grand Chateau.

 

[Fallenone]

Is there still steel frame of a building at the south end of the plot?

I honestly cannot remember. I would say probably not as that site looks very clean in the back of my head.