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Old 08-30-2017, 10:17 AM
 
9,957 posts, read 8,450,177 times
Reputation: 5835
Yes and no. The Turnberry people would likely prefer that it get torn down, and not be replaced by anything high rise, since it blocks their views. But that isn't realistic. I'm almost a little surprised the Turnberry developers didn't buy it.

Quote:
Originally Posted by tijlover View Post
Better news to those living at Turnberry Place! Those poor souls that had units facing that eyesore all those years!
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Old 08-30-2017, 02:44 PM
 
Location: The North
4,962 posts, read 8,681,984 times
Reputation: 3832
Quote:
Originally Posted by nickydim View Post
Just the fact of 8000 more rooms between the two new hotels will mean a much higher concentration of people on the north end. Domino effect will happen, this news, the arenas site that looks ready to build, the Genting property, and who knows what's gonna happen with the Riveria site.

Whats the story with the concert park Las Vegas Festival park (mgm owned)across from SLS, do they ever have concerts there?
The Riviera site is funded and will be connected to the Convention Center. The Festival park is not doing anything right now, Rock in Rio didn't come back and MGM has better festival sites at the south end of the Strip for their needs. They would like to sell the property, but it is clear they are concerned what the buyer would do with it so it may sit for years.

There really is little reason to speculate on Strip property at the moment. The market is clearly dictating what one can do with it. It has to be resort development because land prices are so high and so is demand for hotels. One could build a hotel without a casino, but that would be a monumental lost opportunity. Retail is doing fine and growing, but few people are going to a retail only site. So integrated resorts with everything is the only way you can get a project to work financially. The Convention Center project is the lone exception but required public funding as a result.
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Old 08-31-2017, 04:09 AM
 
2,575 posts, read 1,896,352 times
Reputation: 2210
Quote:
Originally Posted by BBMW View Post
Yes and no. The Turnberry people would likely prefer that it get torn down, and not be replaced by anything high rise, since it blocks their views. But that isn't realistic. I'm almost a little surprised the Turnberry developers didn't buy it.
IMHO they need to build more high rises around there all the way downtown. After taking my first Portland Ariel Tram (Gondola) ride I 100% support the idea of Las Vegas needing a gondola ride right down the Strip. The city officials need to come ride the one in Portland and see it. Then maybe get the Bali Hai golf course property and build a huge parking lot there for free or a very reduced rate like downtown, and also use it for additional parking for the raiders games because I read they have a parking problem they still need to resolve.

At this same city parking lot put the gondola Ride station starting there as a tourist attraction with tourist prices since it's also near the Las Vegas sign and the Raiders stadium. Then take it all the way down to "the building formerly known as fountainbleau". They should just call it Prince. At that end they may build more mixed residential or high rises at some point. That could be the other end of the station welcoming the tourists to the Historic Las Vegas Downtown Sign area. From there they can hop one of these new autonomous buses to the Fremont Street Experience and back. Within 24 hours they could take the gondola ride round trip once if they like so they see the Strip at day time and night time.

Quote:
Originally Posted by Willy702 View Post
Retail is doing fine and growing, but few people are going to a retail only site. So integrated resorts with everything is the only way you can get a project to work financially. The Convention Center project is the lone exception but required public funding as a result.
Is this also why we're seeing more mixed residential and retail structures being built in downtown with Fremont 9, the medical district mixed residential properties slotted along neighborhoods near the UNLV Medical School Campus and also planned in the designs of the symphony park development? People want to walk downstairs and buy their morning drink and something to eat, get their morning paper, walk the dog to the patch of green, etc.
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Old 08-31-2017, 09:18 AM
 
Location: Paranoid State
12,685 posts, read 9,438,208 times
Reputation: 14942
Quote:
Originally Posted by BBMW View Post
I'm almost a little surprised the Turnberry developers didn't buy it.
Turnberry was the original developer of the Fontainebleau. The residents of Turnberry Place were massively pissed because their developer knew long in advance the plans to build the Fontainebleau but did not disclose it.
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Old 08-31-2017, 11:50 AM
 
9,957 posts, read 8,450,177 times
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^
Ah. I didn't know that.
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Old 08-31-2017, 11:26 PM
 
Location: Here and there, you decide.
11,579 posts, read 22,684,439 times
Reputation: 3883
Quote:
Originally Posted by tijlover View Post
Why or why did it take so long to find a buyer!!!!
because Icahn is super greedy!
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Old 08-31-2017, 11:27 PM
 
Location: Here and there, you decide.
11,579 posts, read 22,684,439 times
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Quote:
Originally Posted by FML157 View Post
the guy who bought it during the recession made a killing on this sale. he's the real winner.
that was icahn
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Old 09-01-2017, 09:51 AM
 
9,957 posts, read 8,450,177 times
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What, is he supposed to sell it at a loss? He was smart enough to buy it up for peanuts when everyone else was panicking. I'm glad he made money on it.

Quote:
Originally Posted by airics View Post
because Icahn is super greedy!
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Old 09-01-2017, 10:36 AM
 
Location: Here and there, you decide.
11,579 posts, read 22,684,439 times
Reputation: 3883
Quote:
Originally Posted by BBMW View Post
What, is he supposed to sell it at a loss? He was smart enough to buy it up for peanuts when everyone else was panicking. I'm glad he made money on it.
he had opportunities to sell it early on and double his money.. instead he waited.. guess a 450 million profit is what he wanted
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Old 09-02-2017, 10:00 PM
 
272 posts, read 136,650 times
Reputation: 178
Quote:
Originally Posted by tijlover View Post
Better news to those living at Turnberry Place! Those poor souls that had units facing that eyesore all those years!
Sounds like now is the time to buy in Turnberry Place.
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