Downtown Grand Hotel & Casino unveiled Monday plans to add a third hotel tower as downtown Las Vegas has been catching more and more visitors in the last few years and demand for hotel rooms has been growing.
The land, which opened doors in 2013 in the center of downtown Vegas, broke ground on Monday on its third hotel tower that will be located on its east side. It will feature seven guest-room floors and is slated to open doorways in mid-2020.
The new building will include 495 rooms, bringing the resort’s total to 1,124. In addition to 405 standard rooms, the project also involves 67 studio units, 20 one-bedroom suites, and three presidential suites, a media release from Monday reads.
Commenting on Monday’s announcement, land General Manager Kevin Glass said that they’re “progressing [their own ] progressive growth plan for its Downtown Grand growth ” as demand for hotel rooms has increased steadily because the property’s launching more than five decades ago. The official did not provide information about the downtown Vegas resort’s occupancy rates.
No Info on Planned Investment
It should also be mentioned that property officials did not disclose how much the expansion project is going to cost. Commenting on the topic, CBRE’s John Knott told the vegas Review-Journal that comparable jobs typically cost somewhere between $200,000 to $350,000 per area , which means that Downtown Grand could pay up to $175 million on the newest addition to its portfolio.
The statement about the building of a new hotel tower at the current resort arrived just days prior to local businessmen Derek and Greg Stevens, who co-own The D Las Vegas and Golden Gate, are to disclose essential details about their large downtown Las Vegas development project.
The programmers received last summer endorsement by the Las Vegas City Council to create a hotel and casino hotel on Fremont Street. The land will occupy a 1,224,485-square-foot site on the north side of the Fremont Street Experience, right across the Golden Gate casino.
It will feature 777 hotel rooms, a 117,740-square-foot casino, in addition to a number of food and beverage and entertainment facilities. The future hotel has been billed as the first one of the kind to be built from the ground up in downtown Vegas since 1975 when the 10-million, 325-room California Hotel opened doorways.
Essential information regarding the property, including its title, has been kept under wraps for a little while now. Additional information about the project will be revealed at a particular event event on Thursday, December 10, at the Events Center possessed by the Stevens brothers.
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