Stalled hotel-casino project on Las Vegas Strip could resume construction in 2024

Stalled hotel-casino project on Las Vegas Strip could resume construction in 2024

Article brief provided by Las Vegas Review-Journal
  • Sean Hemmersmeier, Las Vegas Review-Journal
October 24, 2023 8:16 PM
  • Sean Hemmersmeier, Las Vegas Review-Journal

Construction of the Dream Las Vegas casino-resort on the Strip could restart at the beginning of 2024, according to documents filed with Clark County.

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The owner of Dream Las Vegas — a planned 531-room boutique hotel on the south side of the Strip — applied for an extension with Clark County on its building permits for the project. A justification letter for the extension dated Oct. 4 said that financing issues delaying the project were being sorted out and construction could resume in January 2024.

The letter from Las Vegas law firm Kaempfer Crowell, representing the developers of the project, said a bridge loan is expected to close with two weeks, followed by “the close of the full capital stack (equity and debt) by December 2023.”