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Doumani Site Set to Go as $800M Single Tower

LAS VEGAS-Originally slated for two towers, the 5.5-acre site will now hold one 60-story tower comprised of a 50-story hotel topped by 10 floors of Waldorf-Astoria-branded luxury condominiums.

By Brian K. Miller | Updated on October 22, 2006

LAS VEGAS-Majestic Resorts Inc. has figured out what to do with the 5.5-acre site of the former La Concha Motel at the north end of the Strip, across from the soon-to-be redeveloped Stardust hotel and casino. Majestic CEO Lorenzo Doumani tells GlobeSt.com the site will hold a single 650-foot tower containing a mix of hotel, condo-hotel and straight condominium units. The $825-million endeavor is slated for occupancy in 2009.

Plans for the site have gone through several iterations over the past few years. At one time, plans called for two towers, one pure condo tower and a pure hotel tower. “But the straight condo market made no sense, so we blended the two and upgraded the whole project,” Doumani says. “We’ve always planned it to be between four and five stars, but now we expect to be a minimum of five stars, and our goal is to be the first six-star hotel in the US.”

The bottom 50-floors of the Art Deco tower will carry Hilton’s Brussels-based luxury brand Conrad Hotels and will include both straight hotel rooms and condo-hotel rooms. The top 10 floors of luxury condominiums will carry the Waldorf-Astoria brand.

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