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Asian-themed Property Proposed for Strip31 January 2001LAS VEGAS – Jan. 31, 2001 –As reported by the Las Vegas Review-Journal: “A group of California developers is proposing to build an Asian-themed 600-room hotel-casino on 10 acres along the west side of Las Vegas Boulevard, just south of the Strip near the Belz Factory Outlet World. ”…Plans call for the $104 million Dynasty Forbidden City hotel-casino, a privately financed project, to have a four-story hotel tower with a U-shaped parking garage wrapped around it in a design reminiscent of the Great Wall of China, according to documents filed with the Clark County Comprehensive Planning Department. ”`We want this to be the gateway of the Las Vegas Strip,’ said Nick Panchev, one of six partners in the project. "In five years, there's going to be 20 small hotels lining Las Vegas Boulevard (between this site) and Mandalay Bay." ”…Panchev says his group has $50 million to finance the Dynasty project and will seek the remaining $54 million from private investors, although he declined to identify who might provide the money. ”…Dynasty's county plans call for the project to have 1,250 slot machines, 38 table games, two restaurants, five bars and a 1,500-space parking structure. ”Panchev, 60, and his son, Peter, 25, who head APEC Associates, a Chino Hills, Calif., architectural firm are partners with Southern California lawyer Harold Spiegel in the Dynasty hotel-casino. None of the partners has a Nevada gaming license. ”…Spiegel said the group is not prepared to discuss Dynasty Forbidden City's marketing plan, but noted it will be geared to California's Asian community and Las Vegas locals…” |