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Building Boom Hits the Strip

``Last week, Mandalay Resort Group announced a $225 million, 1,122-room addition to its 3,300-room Mandalay Bay property. The 41-story, all-suite tower, scheduled to open next October, will make it the city's second biggest hotel, trailing only MGM Grand's 5,034 rooms.

``...Meanwhile, the hotel-casino plans to open a new $235 million, 1.8 million-square-foot convention center in January. The three-story addition will give Mandalay 33 football fields worth of combined exhibit and meeting room space.

``...Another gap-filling amenity is the $75-million, 100,000-square-foot retail bridge, linking Mandalay Bay and Luxor hotel-casinos. Louis Vuitton and Fendi are among the upscale tenants rumored to be negotiating space in the 33-store mall, slated to open next fall.

``...Caesars is embarking on a 200,000-square-foot, three-level expansion to its Forum Shops, scheduled to finish in 2004.

``...The property is still in the midst of building the Colosseum - a $95 million, 4,180-seat theater. The 200,000-square-foot venue will serve as home to Canadian pop-star Celine Dion's headlining show beginning March 25.

``...The Venetian has resumed work on a $225 million, 1,000-room addition. The project calls for building on top of the hotel's 10-level parking structure, as well as construction of a new 13-level, 1,000-space parking garage and a 150,000-square-foot convention center expansion.

``...A big part of the Strip's future lies in Steve Wynn's $1.64 billion planned megaproject - Le Reve.

``The 45-story, 2,455-room hotel-casino could transform the north-end of Las Vegas Boulevard. While the project has been slowed by financing glitches, Wynn now claims to have the needed capital in place. Work on the resort is tentatively scheduled to begin in mid-June.

``Le Reve has already sparked a series of surrounding projects, including a $350 million, 60-story condominium tower at the New Frontier hotel-casino. The 600-foot, 300-unit project, being developed by Frontier owner Phil Ruffin and Donald Trump, could get underway in October, finishing in July 2004.

``Across the street, a $50 million, eight-story Hilton hotel-casino is proposed at Fairfield and Sahara avenues, just off the Strip. The 200-room Hilton Garden Inn would feature, among other things, a 400,000-square-foot, low-rise casino.

``...Meantime, Hilton is building a $111 million, 33-story timeshare complex at the southwest corner of Las Vegas Boulevard and Sahara Avenue. Activity on the first 500-unit tower started in January and is scheduled to finish by early 2003.

``...The Hilton units have triggered a $30 million, 55,000-square-foot retail project next door.

``...The South Beach Resort, a new $115 million, 420-room, hotel-casino also looks to move forward this year..."

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