As part of its Nov. 5 meeting, the Clark County Zoning Commission is set to consider the third request for an Extension of Time on the Dream Las Vegas hotel-casino.
The proposed hotel-casino was initially the product of developers Shopoff Realty Investments and Contour. DLR Group is the architect of record. McCarthy Building Companies is the general contractor.
EDITORS NOTE: This project previously appeared in a magazine-exclusive BEX article.
Due to rising debts, the former developers had to sign ownership of the partially constructed project to McCarthy Building Companies. The 4.7-acre site was transferred to the general contractor due to a lack of payment. The property value was determined to be $17.2M.
The proposal consisted of a 20-story hotel-casino with 527 rooms.
Construction of the hotel-casino began in 2022 and halted within a year. Commissioners had expressed displeasure at the idea of giving the developers another two years to work through funding issues, questioning if the project is feasible.
Staff recommended denial of the most recent extension request, saying the property should be considered abandoned.
Developers told the Las Vegas Review-Journal they intend to buy the property back from the general contractor and build out the proposed resort. They said borrowing costs, bank closures and lender failures were all contributing to the stalling of the project.
