The land is owned by Sahara Las Vegas Corp. and is located directly adjacent to the Sahara Hotel & Casino. VEII is working out lease terms with Sahara that would entail both companies jointly designing and developing the master-planned resort.
The Voyager attraction itself is a cylindrical vehicle that will revolve roughly 560 ft above the Strip. One rotation of the contraption will last 27 minutes and the average ticket price will be $18.
Plans for the complex include a hotel tower and a time-share tower, a casino, a large lake, and other unspecified residential components.
"Approval from the Clark County Commission for our project was a vital step towards completing and securing the necessary funding for the project," stated Richard Hannigan, President of VEII.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
