What do you do with $2.5 billion dollars? How about securing a 13-acre parcel located just off the Las Vegas Strip and developing the city's largest non-gaming hotel. That's exactly what the Peebles Corp is doing by buying the land on Paradise Road directly across from the Wynn Golf Course for $65 million.The recently announced Las Palmas high rise condo project will consist of four 55-story towers designed by the architectural firm Arquitectonica and contain 800 guestrooms and 1,000 condos in addition to retail, fine dining, and commercial space in addition to lay claim as being Las Vegas' lone five-star non-gaming hotel.
Don't let anyone tell you the Las Vegas high rise condo marketplace isn't growing. I see 2.5 billion reasons to back that statement up. We'll keep an eye out on further details on this project as they become available.
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