The W Las Vegas resort, expected to cover almost 50 acres at Harmon and Koval (between the backs of Planet Hollywood and Hard Rock), has been cancelled.
With Starwood Hotel (which owns the Westin Casuraina just up the street on Flamingo) dropping out and with rising construction costs, developer Edge Group was unable to continue with its plan.
That plan would have been mammoth, spanning across $2.5 billion of mixed-use hotel-condos, two casinos (including the space that was formerly George Clooney’s Las Ramblas), and multiple restaurants, nightclubs, and stores.
With Strip and near-Strip land going for an unprecedented amount, flipping the land could run between $15-20 million per acre.