LAS VEGAS (KLAS)– A new high-end resort is coming to the Las Vegas Strip.

Billionaire Tilman Fertitta’s project was approved on Wednesday by the Clark County Commission. The property will be located at the corner of Harmon Avenue and Las Vegas Boulevard.

“We were pleased with Clark County Commission’s unanimous approval of our development plans today,” said Jeff Cantwell, Executive Vice President of Development at Fertitta Entertainment. “However, this is just another step in our overall review and planning process. No firm decision has yet been made concerning our future plans.”

“The project is supposed to be 43 stories tall, include a luxury hotel with about 2,400 rooms, casino, a 2,500 seat theater,” said Rebecca Miltenberger, a lawyer with Brownstein Hyatt Farber Schreck. The resort is also expected to feature high-end dining, a resort-style pool, a 37,000-foot spa and fitness center, a wedding chapel, and convention facilities.

Fertitta purchased the roughly six-acre property on Harmon and Las Vegas Boulevard over the summer for $270 million, causing a Travelodge motel, souvenir shops, and other businesses to vacate the premises by the end of September.

Fertitta is not a newcomer to Las Vegas. He is a cousin to the Fertitta brothers who run Station Casinos properties, and he himself owns the Golden Nugget, and many restaurants under Landry’s, such as Morton’s, Del Frisco’s, the Palm, and Claim Jumper.

It’s unclear what the new resort will be called or when construction will begin. County commissioners were very specific about construction coordination since Formula 1 preparations will soon be underway.