LAS VEGAS (KLAS) – It’s been more than 15 years since the first shovel went into the ground at the Fontainebleau hotel and casino site on the north end of the strip.

This morning, the current developers, Fontainebleau Development and partners Koch Real Estate Investments, held a “commencement ceremony” at the 3,700 room hotel-casino site at 2777 South Las Vegas Blvd.

Minutes before the ceremony, Fontainebleau Las Vegas Tweeted that it will open in the fourth quarter of 2023.

Originally tweeted by Fontainebleau Las Vegas (@fblasvegas) on November 9, 2021.

Speaking at today’s ceremony was Fontainebleau Development owner Jeffrey Soffer, Nevada Governor Steve Sisolack, and Clark County Commissioner Tick Segerblom.

In mid-October of this year, Marriott dropped its interest in operating the property.

Koch Real Estate Investments bought the 20-acre north Strip property in February for $350 million, records show. 

Construction started on what was then called the Fontainebleau in 2007, but ended a few years later when the $2 billion project went bankrupt.

After being bought by billionaire investor Carl Icahn and held in limbo for years, developer Steve Witkoff bought the property in 2017 with plans to open as The Drew, but that also fell through.