Speedway Motorsports CEO Bruton Smith isn't just content to own the Las Vegas Motor Speedway. Now he wants to build a 127-unit high rise condo complex there as well to be called Trophy Towers, part of $300 million development project for the speedway. However, with opposition from Nellis Air Force Base and lack of zoning approval from the Clark County Planning Commission, he's got some major hurdles to clear before his 190-foot tower plan can become a reality.
He's not looking at this project as a residential development. Prices for the units are expected to range from $500K to over $4 million and Smith believes buyers will appreciate owning one just for "entertainment purposes". Now, I don't know much about NASCAR, but it seems to me that's a lot of money for the one week very year that NASCAR comes to visit Las Vegas. Plus, being located 15 miles out of the way of the strip in the middle of nowhere doesn't help either.
But then again, who knows? The units are large and the floorplans look good. WIth amenities such as a 19,000 square-foot health club and spa, meeting spaces, banquet halls, private event catering, 75-foot lap pool, and a rooftop terrace, perhaps Smith's on to something. Time will tell. Just another part of this crazy NASCAR weekend here in Las Vegas.
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