The Plaza High Rise Condo Hotel Casino Project Gets Initial Approval from Planning Commission

If the Las Vegas high rise condo marketplace is so bad, why does the Clark County Planning Commission continue to approve project after project - even those that are facing legal issues as well?

The multi-BILLION dollar Plaza, to be located at the recently imploded New Frontier's 34.5 acre site, is being built by the Elad Group with plans to become the largest casino project on the Strip. Oh wait a minute - I just answered my own question! Money...

I guess if they commission approves enough plans, eventually something will get built, and the larger the price-tag, the more grandiose the development. In the case of the Plaza, the financial backing is excellent and with plans for a mixed-use project with a French Renaissance architectural style to be modeled after New York City's Plaza Hotel, you really can't go wrong with this one.

Seven towers (671 feet high and taller) will make up The Plaza, which will contain a total of 4,100 hotel rooms, 2,600 condos, and a 175,900 square foot casino when complete.

There's only two small problems: one - Elad's currently being sued by their real estate broker for $12 million in unpaid commissions plus damages and two - a court fight over who owns "The Plaza" name is also under way, as there's currently a "Plaza" operational in downtown Las Vegas. You know how long legal battles can go on for.

Good thing construction isn't slated to start until late next year. And with a completion date estimated to be sometime in 2012, there's plenty of time to sort everything out. Final approval before the Clark County commissioners will be January 16th, 2008. Anyone want to bet this project WON'T be approved? There's no bigger upset in town!

The pricetag on this project won't be cheap for high rise condo hotel investors, but if you'd like me to put you on an interest list when they start taking reservations for this project, just let me know (please include your name and phone number).