Construction at Fontainebleau Las Vegas finally advances
The 67-floor property is set to open in the final quarter of 2023.
US.- Fontainebleau Development and partners Koch Real Estate Investments held a gold-shovel ceremony this week, officially resuming construction of the casino resort at the Strip’s north end. The resort will have 67 floors and is set to open in the final quarter of 2023.
The Fontainebleau Las Vegas project has resumed after nearly 15 years of fits and starts and many owners in between. Earlier this year, Marriott showed some interest in the property but decided against it. Fontainebleau Development will be the only operator.
The project is reaching its final stages as is 75 per cent complete. It spans 25 acres and approximately 9 million square feet at the Strip’s north end. It is adjacent to the West Hall of the Las Vegas Convention Center. It will have 3,700 rooms and convention space upwards of 550,000 square feet. Pool experiences, shops and restaurants, wellness and spa, and nightlife offerings will also be available.
Around 150 people attended the gold-shovel ceremony, including Nevada Governor Steve Sisolack, Clark County Commissioner Tick Segerblom, and the developers. At the ceremony, the president of Fontainebleau Development, Brett Muffson, thanked the community of Las Vegas for its support for the project.
To complete the construction, Fontainebleau Development hired Richardson Construction, a Vegas-based builder, which will announce its development and design partners in the next few months.
Fontainebleau Las Vegas: a long delayed project
Construction started on what was then called the Fontainebleau in 2007, but ended a few years later when the $2bn project went bankrupt. After being bought by billionaire investor Carl Icahn and left in limbo for years, developer Steve Witkoff bought the property in 2017 with plans to open as The Drew, but that also fell through.
Koch Real Estate Investments bought the property in February for $350m.
