County OKs new retail project on Strip

Clark County commissioners approved plans this week for a four-story retail task astatine CityCenter, clearing a hurdle for a section developer to enactment up much buying abstraction connected the Strip.

County leaders connected Wednesday gave the greenish airy for developer Brett Torino’s plan to physique a retail analyzable astatine the southwest country of Las Vegas Boulevard and Harmon Avenue, adjacent to luxury promenade Shops astatine Crystals.

According to county documents, the task is expected to span 228,278 quadrate feet, diagnostic 21 leasable spaces, and see outdoor eating and drinking areas connected the 4th floor.

The casino-choked Strip is already crammed with places to store and eat, though Torino told the Review-Journal this week that his spot is successful a pedestrian-filled corridor and that much than fractional of the task is leased.

He aims to commencement vertical operation wrong 60 days and to unfastened the analyzable — which, astatine slightest for now, is called Project63 — by October 2022.

Torino and task spouse Flag Luxury Group, a New York developer, teamed up to get the 2-acre tract for astir $80 million. As measured by terms per acre, the sky-high valuation exceeded onshore deals connected Las Vegas Boulevard adjacent during the frenzied mid-2000s existent property bubble.

Their parcel was location to the never-finished Harmon hotel, a structurally flawed task that sparked monolithic litigation and was yet dismantled respective years ago.

The sale to Torino’s radical — by casino elephantine MGM Resorts International and its spouse successful the sprawling CityCenter project, government-owned holding institution Dubai World – was announced successful April and closed successful June.

Torino’s caller tract is across the intersection from Harmon Corner, a three-story retail analyzable that helium and Flag Luxury developed astir a decennary ago.

Contact Eli Segall astatine esegall@reviewjournal.com oregon 702-383-0342. Follow @eli_segall connected Twitter.