 Hotel giant Starwood Hotels will bring its first W hotel to Las Vegas as part of a $1.7 billion casino resort at the northeast corner of Harmon Avenue and Koval Lane. The 3,000-room property will feature a mix of hotel, condo-hotel and residential units in addition to a 75,000 square-foot casino, retail space, 300,000 square feet of meeting space, a gym and a spa. The property will be Starwood's first W hotel with a casino. Residences will include poolside cabanas, studios, one and two-bedroom condos and will start at $550,000. Sales are expected to begin in the fourth quarter of this year. The project will be developed in partnership with Edge Resorts, a group of investors including Trevor Pearlman, Reagan Silber and Adam Frank. Edge Resorts will own 75 percent of the venture and Starwood will own the remainder and manage the hotel.
Silber and his partners first purchased the 2 acres of land under the Ice nightclub at the intersection of Harmon and Koval last year and recently picked up 19 surrounding acres from homebuilder D.R. Horton. The total cost of the 21 acres is $108.2 million, Starwood said.
D.R. Horton intends to build about 1,400 condos on roughly 14 acres of land it still owns behind the Starwood parcel.
About 100 condos per acre will be built on the site and the buildings will be 20 stories or less, confirmed Jim Frasure, D.R. Horton division president.
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