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Construction resumes on Fontainebleau Las Vegas9 November 2021(PRESS RELEASE) -- Bringing its long-held dream of introducing its iconic brand to the Las Vegas Strip one step closer to reality, Fontainebleau Development has officially broken ground on construction of Fontainebleau Las Vegas at the in-progress 25-acre site at 2777 S. Las Vegas Blvd. To mark the occasion, Fontainebleau leadership, including Chairman and Chief Executive Officer Jeffrey Soffer and President Brett Mufson, along with partners from Koch Real Estate Investments, invited state and local leaders as well as representatives from contractor W.A. Richardson Builders and the Fontainebleau Development team to place ceremonial gold shovels at the site – signifying Fontainebleau’s commitment to completing a journey it began more than a decade ago. Speaking in front of the property’s north side, Mr. Mufson thanked the Las Vegas community for its support of the long-in-development project, telling the crowd of more than 150 assembled dignitaries, development and financing partners, team members, and media, “You’ve welcomed us with open arms back to the marketplace, and we really appreciate it.”
“It’s kind of a crazy story, but I’m back,” remarked Mr. Soffer, who first conceived of Fontainebleau Las Vegas in the mid-2000s. “There’s so many people that it takes to make a job like this go forward; it’s not one person it’s a team. “It’s a great building, it was always a great building, but this has come full circle back to us and we’re very honored and excited about it as a company.” Set to debut in the fourth quarter of 2023, the 67-story, vertically-integrated luxury hotel and casino spans 25 acres on the north end of the Strip – a coveted location that will offer Fontainebleau Las Vegas guests direct access to the Las Vegas Convention Center and the Las Vegas Global Business District. With the building 75 percent complete, Fontainebleau Development has retained Richardson Construction to finish the project. Construction will add approx. 3,200 jobs to the Las Vegas economy, and the resort will employ approx. 6,000 permanent workers upon completion. “To have it rebirthed is just absolutely incredible,” Nevada Gov. Steve Sisolak told the crowd as he celebrated the incoming jobs and the project’s economic impact. “Today is a testament that no challenge is too difficult to overcome.” Commenting on Fontainebleau’s location and the discussion taking place around nearby business and the neighboring convention center, Las Vegas Convention and Visitors Authority President and Chief Executive Officer Steve Hill said, “You can see their eyes light up (…) and they see the opportunity that this property brings to the convention center and Las Vegas.” Added Clark County Commissioner Tick Segerblom, whose District E includes Fontainebleau Las Vegas: “W.A. Richardson Builders, [the] contractor, and our staff are going to work together to make sure this place is open by the Super Bowl [which Las Vegas will host] in 2024.” Fontainebleau Development and partner Koch Real Estate Investments re-acquired the property at 2777 S. Las Vegas Blvd in February 2021. Upon opening, Fontainebleau Development will be the sole operator of the hotel. Additional design and development partners will be announced in the coming months. |