Perini's contract includes constructing two 600-foot-tall hotel and condo-hotel towers housing 3,000 units; 300,000 sf of retailers and restaurateurs; about 150,000 sf of business convention and conference space; 75,000 sf of casino; an 1,800-seat theater; a 500-seat cabaret; a 50,000-sf spa, salon and fitness center; multiple nightclub venues; and a 3,800-car underground parking structure.
The resort and casino is scheduled to open in mid-2008. The first major construction activity will be a 90-foot excavation for the subterranean parking garage. The total estimated project cost, including construction, is over $1.8 billion.
Operating under the name 3700 Associates, the developers are David Friedman, a former executive at the Venetian; SFM Capital Management, an affiliate of New York-based Soros Fund Management; and Miami and New York City developer Ian Bruce Eichner. The group earlier this year paid $90 million for the property.
The project team includes Arquitectonica, the project's design architect; Martha Schwartz Partners, landscape designer; Dougall Design, designer of the casino and retail spaces; Paul Duesing Partners, design of the condo-hotel, hotel units and public spaces; and Friedmutter Group, executive architect. Grand Hyatt will operate the hotel.
Continue Reading for Free
Register and gain access to:
- 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
© 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.
