Las Vegas-based real estate development company LVXP is planning to build a multibillion-dollar 2,500-room ultraluxury resort on the 27-acre site that formerly held the Wet ‘n Wild waterpark.
The waterpark site was for years targeted for Jackie Robinson’s All Net Arena project. The newly proposed project, anchored by a state-of-the-art NBA-ready arena, could become the city’s tallest resort.
The three LVXP principals, CEO James Frasure Jr., Chief of Staff Christine Richards, and Chief Construction Officer Nick Tomasino, are all long-time Las Vegas residents. LVXP’s leadership team and advisers include experts in real estate, finance, marketing, technology, sports, and entertainment, according to local media reports.
“We are the antithesis of the previous project,” Frasure said in an exclusive interview with the Las Vegas Review-Journal. “We are pulling together the best talent in the valley, such as Nick and some other people that we have worked with and the plan is to make this a success quickly and impactful for the whole valley.”
According to Frasure, the resort would include an arena with 18,500 to 20,000 seats for entertainment and sports, rooms with technological advancements currently used in overseas resorts, a casino, convention facilities, a retail plaza, and food outlets. Additionally, a subterranean parking facility is planned. He said the as-yet-unnamed resort would be the city’s first seven-star property.
According to the developers, the project would prioritize sustainable development and green initiatives led by world-class construction partners and is expected to create thousands of jobs, employ union labor, and generate substantial revenue for the local economy.
“This is a well-conceived project that has the potential to transform a valuable undeveloped land parcel into a highly productive destination that contributes meaningful long-term value to the community and visitors alike,” Clark County Commission Chairman Tick Segerblom said in a release announcing the project, as reported by the above-mentioned media.
The company also looks to dust off Federal Aviation Administration approvals granted in 2008 allowing construction up to just under 1,200 feet. The nearby Strat Tower is the tallest structure west of the Mississippi River at 1,149 feet.
Frasure said the process of acquiring the land was completed in January and he intends to submit permitting requests to Clark County by July. He is hopeful to receive all permissions and permitting by August to break ground on the project late this year or in early 2025.
“Our commitment is to create a destination that captures the essence of Las Vegas and provides lasting benefits for the community,” Frasure said. “For me, this endeavor is more than a project — it’s a promise to uphold the spirit of innovation and enthusiasm that defines our local culture.”
Las Vegas-based Steelman Partners will lead the design for LVXP. The company has designed casino resorts worldwide, including Circa in downtown Las Vegas, Crockfords Resort at Resorts World Las Vegas on the Strip, the Darling Resort and Casino on Australia’s Gold Coast, and The Grand Resort and Casino on the Ho Tram Strip in Vietnam.
“As we begin shaping the next chapter of Las Vegas, I’m thrilled to lead the design for LVXP, a pioneering venture merging cutting-edge artificial intelligence with personalized guest experiences,” Paul Steelman, CEO of Steelman Partners, said in a release.
Steelman said it is too early to provide any design renderings of the project.