Stardust Closes Its Doors Causing North Strip to Begin its New Journey
Posted by Bruce Hiatt - November 1st, 2006
Categories: High Rise Condos
Today, November 1, 2006 at noon PST the infamous Las Vegas Stardust casino closes its doors forever. What a journey this magnificent property has had over its many years and once again it’s about to launch a new birth heard around the world.Once imploded in early 2007, the land where the Stardust stood all these years makes way for Echelon; a multi-Billion dollar casino, hotel and possibly luxury condo-hotel or condo residences too. OK, so tearing down an existing landmark casion hotel is not big news in Las Vegas but this one is an exception. Here’s why.
We already have Wynn, Wynn’s second tower Encore under construction and Trump’s very tall luxurious condo-hotel underway. The Frontier next to Trump will be replaced with another great casino hotel project with announcements forthcoming. But Echeleon is a very important milestone.
With Echelon and its luxury boutique hotels being added to the North Strip, it changes the entire perception of that area. While Wynn and Trump are on the edge of North Las Vegas, Echelon is in the heart of that area. It clearly extends the raising of the bar for luxury and mid-luxury properties along the North Strip and puts pressure on older properties like the Riviera and Circus Circus to raise their bar to this new luxury standard.
Further along North Strip, you already have luxury properties that have raised the luxury property bar to a new height and effectively bookends the new luxury North Strip standard for hotel and residential properties. Sky Las Vegas to date is the only ultra luxury residential condo on the Strip and when it goes live in early 2007 will clearly be a luxury residential landmark in Las Vegas in addition to its prominent height of 45 stories.
Across the street from Sky is the well known Turnberry Place, a luxury residential condominium community with four towers and tons of high end amenities like the Sterling Club. On the current vacant land West of Turnberry Place that fronts Las Vegas Blvd, the future luxury Fontainebleau casino, hotel and possibly condo-hotel residences will be built over the next several years. Sky’s luxury residential tower will overlook Fontainebleau’s water features. What a sight that will be. It could become the Bellagio of the North Strip from the fountains and water features perspective.
So yes, for many seeing the Stardust go away is a sad sight and another chapter of Las Vegas history closes. However, a new chapter begins that is just as exciting and will change the way we think about the North Strip for a long time. Thanks Boyd Gaming for your innovation that will launch a new and better North Strip.
Bruce Hiatt, Broker, CRS can be reached at 702-456-7080.
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