LAS VEGAS (KLAS) — More than three years after announcing a dream to build a luxury 450-room hotel on the south end of the Las Vegas Strip, construction has come to a halt.
Dream Hotel Group and developers Contour and Shopoff Realty Investments had been building the hotel between the Pinball Hall of Fame and Las Vegas Harley-Davidson near the Las Vegas sign.
“We have temporarily paused work on the Dream Las Vegas site while we work to finalize and close the construction financing,” Bill Shopoff, President and CEO of Shopoff Realty Investments told 8 News Now. “We have temporarily paused work on the Dream Las Vegas site while we work to finalize and close the construction financing. This is anticipated to occur in the near future, as we are in active discussions with our lenders to finalize terms. As soon as the financing is in place, the project’s construction will be restarted, and we have every intention to complete this project as planned. Additional work, such as permitting and other non-construction activities will continue to proceed, and all parties and agreements remain in place. We continue to work in concert with McCarthy, Hyatt and Clark County officials, and are thankful that we have their continued support.”
If construction were to not continue the stalled construction site would be the second project on this stretch of the Strip to begin and be abandoned in less than 10 years.
The SkyVue observation wheel, similar to the High Roller, was being built at the southeast corner of Las Vegas Blvd South and Mandalay Bay Rd. It was supposed to be five feet taller than the high roller, but lost financing. The site with two giant concrete pylons remains to this day, more than eight years after construction ended.