The
Cosmopolitan
Resort & Casino
3708 Las Vegas Blvd South
Las Vegas, NV
THE STORY:
Turned a 8.5 acre parcel of land on the Las Vegas strip -- which was 1/3 the size of the typical Vegas Strip resort -- into one of the hottest luxury resort casinos in Las Vegas.
3000 ROOMS
52 STORIES
BUILT 2010
KEY DETAILS
Total Cost: $3.8 Billion
Total Gross Sq Ft: 6,500,000
USES:
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2,200 condo-hotel units
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800 hotel rooms
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100,000 sq. ft. of casino
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250,000 sq. ft. of retail and restaurant
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150,000 sq. ft. of meeting/convention space
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40,000 sq. ft. spa and fitness facility
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1,800-seat theater
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5-level underground parking garage
AMENITIES:
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Over-sized, one-of-a-kind private terraces
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Three distinct pool experiences, including the Marquee Day Club Pool
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Three + bars and lounges including the famous Chandelier Bar
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World-class chefs and authentic cuisine at China Poblano, Estiatorio Milos, Scarpetta, Blue Ribbon STK and more
PROJECT CHALLENGES
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Size of site was 1/3 of that typically developed for a Las Vegas strip resort, which was usually more than 25 acres.
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The property wrapped around The Jockey Club, a timeshare property that could not be acquired, and was being used as an outdoor parking facility for the owners.
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Development solution had to include an incentive package to allow for construction of The Cosmopolitan while The Jockey Club remained operational.
OUR SOLUTION
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Used an urban development model to maximize site potential which resulted in the ability to build 6.5 million square feet on the 8.5 acre parcel.
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Devised a plan to excavate 62 feet below grade to provide the required number of parking spaces for the resort.
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Through the government approval process, acquired dense entitlement approval including a variance on FAA building height restrictions, a variance which reduced the parking requirement, and a variance on the set back requirement relating to The Jockey Club line which granted approval for a 0 feet set back instead of the standard 30 feet set back.
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The development model included 2200 condo-hotel rooms that would be sold at an estimated value to the project of $1.8 B.
