Discussion in 'Casino Industry & Development' started by Iceicecool, Aug 23, 2016.
Former Harmon hotel location looking all smooth and nice. Any ideas what's going to be put here?
Read this previous thread about the possibilities!
I'm sure Walgreens is already foaming at the mouth.
It's a pretty small footprint so the only options that seem to make sense are more Crystals (1-3 floors), or go vertical with a boutique hotel again, just one that isn't built by Larry Moe and Curly like the Harmon was.
If there was enough space for a hotel it would make sense that someone would install a hotel there.
They could do a boutique hotel easy, especially since it's a space large enough for condos. But do they really want more room inventory?
Given that they are pouring money into Monte Carlo to convert it to Park MGM, I don't see much happening to this parcel.
MGM will probably upscale the Park MGM into something much nicer that compliments the City Center motif that Harmon was suppose to embrace.
Since MGM just sold Crystals back in April for 1.1 billion, I doubt they would give up more City Center footprint on the cheap. Given the current cost per acre and its non strategic position, no one would pay the ridiculous rate MGM would want for that corner acreage. I think they will sit and wait for now. Maybe a future sweet land lease deal with a major retail chain with very deep pockets.
Parking lot? Strip mall? (ABC, Tattoo parlor, vape shop, check cashing.) Some kind of Yet Another chain eatery? Timeshare showroom? Velvet-rope club?
Weren't they at one point talking about putting in a movie theatre??
I wouldn't be surprised to see MGM partner up with a major hotel brand to get something built there. The way they see it, strip property just sitting there collecting dust is LOSING them money in the long run. This isn't some parking garage behind Vdara or something, it's strip facing property on one of the prime-est corners for real estate in the country. Besides, I'm assuming they left the infrastructure (electrical, gas, etc) they built for the Harmon in place so they could go vertical quickly. Don't be surprised if they announce something in the next year.
The future of the space formerly occupied by the Harmon Hotel is unknown, but an expansion of the adjacent Shops At Crystals mall, and the addition of more high-end retail space, seems a likely eventuality.http://vitalvegas.com
Crystals expansion was the plan. They sold the mall and it looks like expansion to that space may have been part of the deal.
slight problem with building a hotel there. If it has a casino, it will be small due to footprint. And, if no casino, the nearest one would be Cosmo. Sort of caught in a hard place there.
The original plan was condos with no casino. And it's their own damn fault that they put Aria in the back of the development.
A casino on 2 different floors?
Ah, so yeah, eventually more luxe retail, probably. Lame. Wouldn't want to deprive wealthy tourists of $5K handbags and $20K watches, though.
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