New York Based Dream Hotel Group Broke Ground for Dream Las Vegas
Developers broke ground on a 20-story luxury hotel and casino on a 5-acre site just north of the Harley-Davidson motorcycle dealership. The resort is expected to open in late 2024. Dream Las Vegas will feature 531 rooms, a 27,000-square-foot casino, a three-level pool area and Day Club, and numerous dining and nightlife spots. It will also have a 12,000-square-foot conference center. It will sit between the motorcycle dealership and the Pinball Hall of Fame, just steps from the famous Las Vegas welcome sign. The project — construction is expected to cost about $550 million — is a collaboration of Shopoff Realty Investments and Contour, California-based real estate development firms, and the Dream Hotel Group. Based in New York City, the Dream group has luxury hotels there and in places like Miami, Hollywood, Nashville, Tenn., and Bangkok. The ownership group for the resort purchased the land for the project for $21 million, shortly before the pandemic shut down the Strip for over two months, according to Clark County records. ”We acquired this in February 2020,” said Bill Shopoff, president of Shopoff Realty Investments. “As we all know, the world shut down right after that. You have to be an optimist as a developer. We had confidence that Las Vegas would rebound, and it has come back.” The Developer is confident that celebrities and professional athletes will stay at Dream, Las Vegas. because they are known to frequent Dream properties. The Dream Hotel a short drive from Allegiant Stadium, home of the Las Vegas Raiders, makes a lot of sense…
