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LAS VEGAS-The owners of the Shops in Desert Passage have begun a $50-million makeover of the 475,000-sf shopping center. The goal is to have the new look complement the adjoining Aladdin Hotel & Casino's conversion to the Planet Hollywood brand.
Desert Passage has 170 specialty stores, 15 restaurants and live entertainment. The owner is Boulevard Invest, a joint venture of Tri-Star Capital and RFR Holdings, both based in New York. The JV paid Trizec Properties $240.5 million for the property in late 2004.
The ownership has retained for the makeover the architectural firms Gensler of Nevada and the locally based Friedmutter Group, in conjunction with construction group Flagship Construction Co. The exterior renovations will be completed by the fourth quarter of 2006 and the interior improvements will be completed in phases through the second quarter of 2007.
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