Shopoff Realty Investments and Contour on Thursday said they have secured necessary entitlements for the development of a new, full-service, luxury lifestyle resort and casino in Las Vegas.
The joint-venture partners said the new property, to be known as “Dream Las Vegas,” will be built on a prime, 5.25-acre lot on the south end of the world-famous Las Vegas Strip, at 5051 S. Las Vegas Blvd. This is across the street from the Bali Hai Golf Club, and just north of the Welcome to Fabulous Las Vegas sign.
Nearby establishments include Mandalay Bay Resort, the new Allegiant Stadium (home to the National Football League's Las Vegas Raiders), T-Mobile Arena (home to the National Hockey League's Las Vegas Golden Knights), as well as the numerous hotels and casinos along South Las Vegas Blvd.
Branded and managed by Dream Hotel Group, developers said in a statement the 19-story Dream Las Vegas will bring 526 well-appointed rooms and suites when complete in the third quarter of 2024. Amenities will include gaming, dining and nightlife venues, a pool deck, retail experiences, meeting rooms and a fitness center.
McCarthy Construction will manage the design and construction of the new resort and casino, with the project set to start excavation in Q2 2022. Officials said the project is anticipated to bring more than 1,200 construction jobs as well as 785 staff positions once the hotel opens.
“After working closely with Clark County Board of County Commissioners, McCarran Airport and the Clark County Department of Comprehensive Planning, we are pleased to have been able to secure entitlements for Dream Las Vegas that are mutually beneficial to Clark County as well as our partnership,” William Shopoff, Shopoff Realty Investments’ president and CEO, said in a statement. “We believe this project will be a stellar example for future development on the south end of the Strip.”
Contour CEO David Daneshforooz added: “As a Las Vegas native, born and raised, I know first-hand the benefits Dream will bring to the Strip. Dream Hotel Group will bring the same magic to Las Vegas as they have to their other locations – a curated entertainment destination in a well-designed intimate environment for both locals and visitors to enjoy. This will be a departure from the mega-themed resort concept, ushering in a new era of hotel/casino design for Las Vegas.”
Dream Hotels offers both stateside and international locations, featuring on-property dining and entertainment that embody their locales’ distinctive character, from the bustling atmosphere of New York City to the colorful streets of Bangkok.
Shopoff Realty Investments is a California-based real estate firm with a 29-year history of investing across the United States.
Contour is a privately-owned commercial real estate investment and development company formed in 2018 as the vertical development arm of a family-owned land-trade business established in 1987. It also is headquartered in California.
