New Project63 Las Vegas Strip shopping complex under construction
Construction of a new strip shopping complex is underway.
Crews are working on the foundations and a crane is in the air at Project63, a four-story commercial development in the multi-tower CityCenter complex.
The framing of the building is expected to be completed by the end of March and the entire project is expected to be completed by fall 2022, project manager Ron Hall told the Review-Journal.
According to Clark County documents, the complex will cover 228,278 square feet.
Located on the southwest corner of Las Vegas Boulevard and Harmon Avenue, Project63 is about 30% leased with signed contracts, said listing broker Frank Volk of SRS Real Estate Partners, who declined to provide the names of the tenants.
“We are seeing a very strong response,” Volk said.
The developers, Brett Torino of Las Vegas and Flag Luxury Group of New York, acquired the 2-acre site earlier this year for around $ 80 million from MGM Resorts International and its partner in CityCenter, the public holding company Dubai. World.
Measured by the price per acre, the sky-high valuation outpaced land deals on Las Vegas Boulevard, even during the frenzied real estate bubble of the mid-2000s.
The site, next to the Shops at Crystals luxury mall, housed the unfinished and structurally flawed Harmon Hotel Tower, which was dismantled several years ago.
It’s also at the intersection of Harmon Corner, a three-story shopping complex that Torino and Flag Luxury developed about a decade ago.
Clark County Commissioners approved plans for Project 63 in August.
Torino said that when he named the resort he and Flag Luxury boss Paul Kanavos were both 63, but he also said the name could change.