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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

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KEY DETAILS

Total Cost: $3.8 Billion

Total Gross Sq Ft: 6,500,000

USES:

  • 2,200 condo-hotel units

  • 800 hotel rooms

  • 100,000 sq. ft. of casino

  • 250,000 sq. ft. of retail and restaurant 

  • 150,000 sq. ft. of meeting/convention space

  • 40,000 sq. ft. spa and fitness facility 

  • 1,800-seat theater

  • 5-level underground parking garage

AMENITIES: 

  • Over-sized, one-of-a-kind private terraces 

  • Three distinct pool experiences, including the Marquee Day Club Pool

  • Three + bars and lounges including the famous Chandelier Bar

  • World-class chefs and authentic cuisine at China Poblano, Estiatorio Milos, Scarpetta, Blue Ribbon STK and more

PROJECT CHALLENGES

  • Size of site was 1/3 of that typically developed for a Las Vegas strip resort, which was usually more than 25 acres.

  • 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.

  • Development solution had to include an incentive package to allow for construction of The Cosmopolitan while The Jockey Club remained operational. 

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OUR SOLUTION

  • 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.

  • Devised a plan to excavate 62 feet below grade to provide the required number of parking spaces for the resort.

  • 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.

  • The development model included 2200 condo-hotel rooms that would be sold at an estimated value to the project of $1.8 B.

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30 West 21st Street, 11th Floor, New York, NY 10010                    T +212 554 3700                info@continuumcompany.com                press@continuumcompany.com