In a bold move to dominate the Las Vegas skyline, Donald Trump is set to construct a $300 million high-rise tower, slated to commence in January 2005. This venture places him in direct competition with casino magnate Steve Wynn, who has recently cleared the Desert Inn to make way for his own ambitious project, Encore, situated just across the street.
The Trump International Hotel & Tower, mirroring its namesake in New York City, will rise at the crossroads of Industrial Road and Fashion Show Drive. This 64-story edifice is poised to become the tallest hotel in Las Vegas, reaching a height of 645 feet. Trump has dismissed the taller Stratosphere Tower's claim to this title, stating, "that is not a building."
Trump's towering ambition is a collaborative effort with Phill Ruffin, owner of the New Frontier. The duo's 50-50 joint venture will occupy a modest 3.5 acres, yet it promises to deliver grandeur with 1,000 hotel-style units ranging from 636 to 1,057 square feet, alongside 50 luxury apartments spanning 3,000 to 10,000 square feet. The property will also feature a spa and fine dining restaurants, notably excluding a casino. The condominiums will be available for purchase, with owners having the option to lease their spaces on a time-share basis through Trump's management company.
Trump's vision extends beyond mere size. He aims to create "a super-high-end residential tower in Las Vegas that will be the talk of the town,” as he told the Los Angeles Times in July. The building's exterior will be adorned with 24K gold glass and white EIFS accents, ensuring it stands out even amidst the glitz and glamour of the Strip.
While Trump's tower is set to be the tallest, it is not the most expensive project on the Strip. Steve Wynn's development plans total a staggering $3.5 billion, with the Encore tower alone costing $900 million. This rivalry between two titans of industry underscores the high stakes of Las Vegas real estate and entertainment.
The Las Vegas real estate market has been a hotbed of activity, with a report from the Greater Las Vegas Association of Realtors highlighting a record median home price of $425,000 as of February 2023 (source). Trump's and Wynn's projects are indicative of a broader trend of luxury development in the area, catering to a clientele seeking the ultimate in opulence and exclusivity.
As the Trump International Hotel & Tower takes shape, it is poised to become an iconic fixture in the Las Vegas landscape. With its strategic location and distinctive design, Trump's latest venture is set to redefine luxury living in the heart of the entertainment capital of the world.
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