The group of investors, known as Edge Resorts, includes Reagan Silber, Adam Frank and Trevor Pearlman. Edge Resorts owns 75% of the venture; Starwood owns the remainder and will manage the hotel.

The development site is located at the intersection of Harmon Avenue and Koval Lane, just east of the Strip. "W Las Vegas will be the cornerstone property of the 'Harmon Corridor,' an area quickly becoming the location of choice for new development in Las Vegas," says Frank, president of Edge Resorts. An executive with W Hotels was not immediately available Wednesday morning for comment.

The project will include 3,000 hotel and condominium units, 300,000-sf of meeting space, a 75,000-sf casino, an undisclosed amount of retail space, a day spa and a dozen bars and restaurants. Condo owners will have full use of the property's facilities and amenities, as well as access to maid service, 24-hour room service and concierge services. Units will go on sale in the fourth quarter of 2005, with prices starting at $550,000.