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Chris Jones
 

Resort Builders At Home In LV, Developers Release Details Of Strip Casino Dubbed Cosmopolitan

23 November 2004

Webster's New World Dictionary defines the word cosmopolitan to mean someone or something that is "at home in all countries or places."

The term is seldom used to describe Las Vegas, but the partners at 3700 Associates believe their $1.5 billion development will soon bring just such a touch to the Strip, both literally and figuratively.

The Las Vegas-based developer on Monday announced new details of its planned 4 million-square-foot mixed-use project, most notably its name -- the Cosmopolitan Resort & Casino. The day's revelations also included the identities of several new partners whose reputations shed new light on what's to come on an 8.5-acre sliver of land south of Bellagio near the Jockey Club.

David Friedman, president of 3700 Associates, said the monicker was selected because it sums up both the project and the direction of development in Southern Nevada.

"Cosmopolitan is very urban: it's built to the street, tall and has different things happening on different levels," Friedman said. "You could just as easily find this project in New York, Miami or Hong Kong, for that matter. It's not something anyone has seen in Las Vegas."

The project will have more than 2,400 rooms, including standard hotel accommodations as well condo/time share units; more than 150,000 square feet of convention space; a 70,000-square-foot casino; an 1,800-seat theater; and more than 300,000 square feet of retail, restaurant and entertainment space.

Ian Bruce Eichner, chief executive officer of 3700 Associates, will bring his trademark style of high-rise development to the Strip, Friedman said. He said Eichner is one of the nation's premier developers of luxury time share/condominium properties, including The Manhattan Club in New York and the Continuum development in Miami's South Beach district.

Coupled with his own expertise on the local gaming industry gained during a nearly nine-year tenure with The Venetian parent Las Vegas Sands, Friedman called the partnership a "pretty potent combination."

"We've tried to engineer the project in a way that other elements (such as gaming, retail and time share sales) will effectively subsidize that land cost so that people will be able to live right on the Strip," Friedman said.

Other partners include Arquitectonica, a recognized architectural firm whose projects include Hong Kong's Le Meridien hotel; Dougall Design, a theme retail and interior design firm that worked on the Forum Shops at Caesars and The Hotel at Mandalay Bay; Friedmutter Group, a national architectural firm specializing in hotel-casinos whose portfolio includes MGM Grand and The Venetian; and Paul Duesing Partners, the custom interior designer behind many celebrity residences and exclusive hotels around the world.

Cosmopolitan is scheduled to break ground early next year and will open in late 2007 or early 2008, Friedman said.