International hospitality giant Genting Group has announced a deal with Boyd Gaming Corp. to purchase the land and assets, including partially built structures, of the stalled Echelon casino-resort in Las Vegas. The company will pay Boyd $350 million for the 87-acre property, according to the Las Vegas Review-Journal.
Genting, which owns and operates properties in Malaysia, Singapore, and New York City, is planning to build a $2 billion hotel-casino development, called Resorts World Las Vegas, that will feature 3,500 rooms, a 175,000-sf casino, convention space, and some 200,000 sf of retail and restaurants.
The plan includes completing many of the partially built structures on the site, including hotel structures and a parking garage. It's expected to open in 2016.
The development is the second major Las Vegas construction announcement in the past month. In last February, SLS Hotels broke ground on a $415 million makeover of the Sahara Hotel, which closed in 2011 after nearly 60 years on the Strip.
Related Stories
| Jan 3, 2012
BIM: not just for new buildings
Ohio State University Medical Center is converting 55 Medical Center buildings from AutoCAD to BIM to improve quality and speed of decision making related to facility use, renovations, maintenance, and more.
| Jan 3, 2012
New SJI Rule on Steel Joists
A new rule from the Steel Joist Institute clarifies when local reinforcement of joists is required for chord loads away from panel points. SJI members offer guidance about how and when to specify loads.
| Jan 3, 2012
AIA Course: New Developments in Concrete Construction
Earn 1.0 AIA/CES learning units by studying this article and successfully completing the online exam.
| Jan 3, 2012
The Value of Historic Paint Investigations
An expert conservator provides a three-step approach to determining a historic building’s “period of significance”—and how to restore its painted surfaces to the correct patterns and colors.
| Jan 3, 2012
28th Annual Reconstruction Awards: Bringing Hope to Cancer Patients
A gothic-style structure is reconstructed into comfortable, modern patient residence facility for the American Cancer Society.
| Jan 3, 2012
Art Gensler: Still Making a Difference for Clients Every Day
After running what is today the largest architecture firm in the world for more than four decades, M. Arthur Gensler, Jr., FAIA, FIIDA, RIBA, is content to be just another employee at the firm that bears his name.
| Jan 3, 2012
Gensler: 'The One Firm Firm'
The giant architecture firm succeeds by giving each of its more than 3,000 employees the opportunity for career growth and professional leadership.
| Jan 3, 2012
Rental Renaissance, The Rebirth of the Apartment Market
Across much of the U.S., apartment rents are rising, vacancy rates are falling. In just about every major urban area, new multifamily rental projects and major renovations are coming online. It may be too soon to pronounce the rental market fully recovered, but the trend is promising.
| Dec 29, 2011
Decision not to fireproof the new World Trade Center Transportation Hub criticized
Some criticized the decision, reasoning that the structure could be a terrorist target.
| Dec 29, 2011
Seismic safety in question at thousands of California public schools
California regulators responsible for enforcing earthquake safety laws have failed to certify more than 16,000 construction projects in California public schools, increasing the risk that some projects may be unsafe, according to a state audit report.
