SEARCH NEWS:

 

New $500 Million Mediterranean Village at Lake Las Vegas Resort

The Village will include a luxury hotel, a casino, spa, residential condominiums, retail and office space. Located just 17 miles from the famed Las Vegas Strip, Lake Las Vegas Resort is a $5 billion residential, resort and golf community surrounding Nevada's largest privately owned lake.

The development group of The Village at MonteLago includes The Ritz-Carlton Hotel Company, L.L.C. of Atlanta, Ga.; Intrawest Corporation headquartered in Vancouver, British Columbia; CIRI based in Anchorage, Alaska; and Lake at Las Vegas Joint Venture, a partnership composed of Transcontinental Properties, Inc., as the managing general partner, and individuals and entities associated with Sid Bass and Lee Bass of Fort Worth, Texas, as limited partners.

The Village will be set upon 50 acres on the west end of the 320-acre private lake and will include a 350-room luxury Ritz-Carlton hotel, a 40,000-square-foot casino, a 30,000-square-foot spa and 80 luxury condominiums associated with The Ritz-Carlton Hotel.

The commercial portion of The Village at MonteLago will be a signature Intrawest village including approximately 820 luxury condominium units and up to 125,000 square feet of commercial space, including retail boutiques, waterside specialty restaurants and specialty cafes, and 50,000 square feet of office space. Construction is scheduled to begin before the end of 2000, with an anticipated opening date of third quarter 2002.

Guests of The Village at MonteLago will discover a pedestrian-only experience where streets curve to plazas aligned with specialty shops. The Mediterranean-style lakeside resort will be terraced into the hillside with residential condominiums harmoniously woven into The Village.

White beaches, nearly a mile of lakeside walkways, and harborside boat docks will create a European atmosphere, reminiscent of Tuscany, Portofino and Monte Carlo. Water taxis will transport guests and residents throughout the entire community.

The centerpiece of The Village at MonteLago will be a bridge spanning the western end of the lake designed to emulate Italy's famed Pontevecchio Bridge. This expansive structure, part of The Ritz-Carlton hotel, will offer 75 unique hotel rooms with sweeping lake and mountain views, as well as exclusive retail boutiques.

The remaining 275 Ritz-Carlton lakeside hotel rooms and an additional 80 residential condominiums, to be managed by Ritz-Carlton, will be accessible to residents and guests via the bridge's pedestrian promenade. Unique design features of The Village include vine-covered trellises and balconies, balustrades and ornate bridges in a garden-like setting surrounded by water features.

The 30,000-square-foot, world-class Ritz-Carlton spa will offer a complete array of luxury spa services in casually elegant and private surroundings. Set adjacent to the hotel, the spa will provide intimate outdoor treatment patios and a soothing fountain courtyard.

A 40,000-square-foot casino with commanding views of the lake and surrounding mountains, as well as a balcony overlooking The Village plaza, will offer visitors Monte Carlo-style gaming entertainment. The casino will be accessible by a grand staircase from The Village plaza.

The 2,245-acre master plan Lake Las Vegas Resort development provides residents and guests the ultimate in living and recreation opportunities; championship golf, luxury residences and first-class resort accommodations all surrounding the private lake.

Lake Las Vegas was created by the construction of an earthen dam and has a depth of 120 feet. Along the lake's surface and 10 miles of breathtaking shoreline, residents and visitors discover all the advantages of lake living: swimming, sailing, windsurfing and kayaking.

Residents and guests can also enjoy sport fishing in the lake which is fully stocked with game fish including rainbow trout, catfish and large-mouth bass. Lake Mead, one of the largest national recreational areas in America, just two miles from Lake Las Vegas Resort, offers water skiing, jet skiing and other motorized lake pastimes.

Honored internationally by the Glasgow U.K. City of Architecture and Design as one of the world's 10 significant projects that will define contemporary urban life in the 21st century, Lake Las Vegas Resort offers some of the West's most exclusive residential real estate.

Elegant estates, executive homes and resort condominiums are terraced into the hillsides, while coastal-style villas hug the lakefront shoreline. Crafted throughout the community are two Jack Nicklaus signature courses offering award-winning golf experiences. The Lake Las Vegas Resort master plan calls for the development of at least two additional championship masterpieces.

The award-winning Ritz-Carlton Hotel Company, L.L.C. manages 35 hotels worldwide with 17,000 employees. The Ritz-Carlton Hotel Company was founded in 1983 on principles of the finest levels of personal service, dining facilities and amenities. The company won The Malcolm Baldrige National Quality Award for a second time in 1999, the only service company to do so.

Intrawest Corporation, a publicly traded company, is listed on the New York (IDR) and Toronto (ITW) stock exchanges. A proven track record in successfully developing and operating some of the world's top-rated village-centered, four-season resort destinations has earned Intrawest the reputation as one of the most sought-after developers in the resort industry. Golf at Intrawest resorts has grown quickly over the past few years and the company has designed and maintained golf courses at resorts such as Copper Mountain in Colorado; Sandestin in Florida; Mammoth in California; Snowshoe in West Virginia; and Tremblant in Quebec, among others, and now has 19 golf courses under ownership or management. In addition, Intrawest owns Raven, a premier golf management company in Phoenix that was recently rated No. 1 in service by the readers of Golf Magazine.

CIRI is an Alaska Native regional corporation with a mission of fostering the economic, social and cultural well being of its shareholders and their descendants. CIRI has a diversified investment portfolio focusing on tourism, communications, real estate, construction services, oilfield services and natural resources. CIRI is also a partner in the Hyatt Regency Lake Las Vegas Resort.

Transcontinental Properties, Inc. is a subsidiary of Transcontinental Corporation of Santa Barbara, Calif., a privately held real estate development and investment company with diversified projects throughout the United States. Affiliates of Transcontinental Corporation have developed such projects as Waikoloa on the Big Island of Hawaii; McCormick Ranch in Scottsdale, Ariz.; Las Campanas in Santa Fe, N.M.; Lake Arrowhead in Southern California; Ocean Pines in Maryland; and Lake of the Woods in Virginia.

< Gaming News