M Resort Las Vegas Casino And Spa $1B Master Plan Has Been Unveiled
The M Resort Las Vegas Casino and Spa master plan has been unveiled. The proposed $1 billion Las Vegas NV hotel real estate project includes 390 suites and rooms in a 11 story resort. Update 5/21/08, M Resort shopping mall with 1 million square feet announced.
The commercial real estate project has an expected completion date of spring 2009. It is located 10 miles south on the Strip and St. Rose Parkway and encompasses 80 acres of land. It is expected to be the largest resort city within the Las Vegas City limits. M Resort Las Vegas employment job search link.
Other offerings include 40,000 square feet of conference and meeting space with more than 90,000 square feet of gaming space. The luxury amenities of The M Resort Las Vegas strip hotel includes several restaurants, 20,000 square feet of spa and entertainment venues yet to be determined.
With its elevation of 400 feet higher than Strip properties and casinos, the design and architecture of the Las Vegas NV hotel will incorporate the views. Chairman and CEO of the M Resort, Anthony A. Marnell III, will offer a skyline view from lobby, rooms and restaurant. The outdoor design will include waterfalls and a 100,000 square foot outdoor canyon pool.
MGM Mirage is infusing $160 million into this real restate development in Las Vegas, Nevada.
Marnell Corrao Associates has created a joint venture with M Resort, Spa and Casino, on the planning and construction of the mixed use development. Previous projects by Marnell include Wynn Las Vegas NV hotel and Caesars Palace on the Strip.
A subordinated convertible note is the form of MGM’s investment. The note matures eight years from its effective date and contains certain mandatory and optional redemption provisions. MGM has the right to convert the note into a 50% equity interest in the Las Vegas resort after a year and a half of the note’s issuance if not repaid.
Other development in the near area includes the Southern Highlands Resort by Olympia Gaming. The Southern Highlands Resort is a $2 billion mixed used project on 100 acres of land. The $750-million first phase is will include 600 Las Vegas, NV hotel rooms, entertainment, convention space and retail. Source: Globe St.
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M Resort Las Vegas casino and spa $1B master plan has been unveiled.