Blvd (Las Vegas)

Last updated
Blvd
Blvd (Las Vegas)
Location Paradise, Nevada
Coordinates 36°06′22″N115°10′20″W / 36.106104°N 115.172338°W / 36.106104; -115.172338
Address3755 South Las Vegas Boulevard
Opening dateEarly 2025
OwnerGindi Capital
Cherng Family Trust
Total retail floor area 400,000 sq ft (37,000 m2)
No. of floors3
Website blvdlasvegas.com

Blvd (stylized as BLVD) is a three-story shopping center under construction on the Las Vegas Strip in Paradise, Nevada. It is being developed by Gindi Capital, in partnership with entrepreneurs Andrew and Peggy Cherng. The project was announced in 2019, but delayed due to the COVID-19 pandemic. Construction began in 2023, and the project is scheduled to open in early 2025.

Contents

History

Hawaiian Marketplace in 2012 Hawaiian Marketplace, Las Vegas (7859896684).jpg
Hawaiian Marketplace in 2012

Blvd is being developed by New York-based Gindi Capital, which also owns the Showcase Mall, located further south on the Las Vegas Strip. The Blvd site was previously occupied by the Hawaiian Marketplace, [1] opened in 2004. [2] [3] [4] Other structures on the property included a strip mall known as Cable Center Shops, and the Boulevard food court. [1] [5] The site was once planned to feature an Elvis Presley-themed resort, a project that was ultimately canceled due to the 2008 recession. [6] [7]

Gindi purchased the structures, as well as rear acreage, in 2019. The parcels, totaling 9.5 acres (3.8 ha), were sold for $172 million. Gindi soon announced plans to build a retail and entertainment complex on the site, [1] [8] [5] although the project was delayed as a result of the COVID-19 pandemic. [9] It was further hampered after the pandemic caused a rise in interest rates. To offset the project's costs, Gindi partnered with entrepreneurs Andrew and Peggy Cherng, who co-own the Waldorf Astoria hotel across the street. Cherng Family Trust is a 50-percent partner in Blvd. [7]

The existing structures on the site closed in mid-2022, [10] [11] and were demolished early the following year. [5] [12] Construction soon began on Blvd, with Penta Building Group as the general contractor. [13] The project was topped out in December 2023, [14] and was 20-percent leased at that time. [7] Tenants are expected to open beginning in early 2025. [7] [14]

Features

Blvd will have a total of 400,000 sq ft (37,000 m2) across three floors, including a 110,000 sq ft (10,000 m2) rooftop dining terrace overlooking the Strip. [9] [15] The first two floors are dedicated to retail space, with 700 feet of street frontage along the Strip. Tenants will have two-story storefronts. [9] Unlike the nearby Shops at Crystals, Blvd will not feature high-end retailers, [9] instead focusing on a middle-class clientele. [7] Notable tenants will include Adidas, H&M, and Puma. [15]

Blvd was designed by BWA Architects, 5+design, and 3 Egg Studio. [13] The rear of the property was left vacant for future development, including a possible hotel. [16]

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References

  1. 1 2 3 Segall, Eli (June 28, 2019). "Chunk of Las Vegas Strip sold for $172M". Las Vegas Review-Journal. Retrieved July 13, 2024.
  2. ↑ Smith, Hubble (January 12, 2004). "Hawaiian Marketplace moves closer to opening". Las Vegas Review-Journal. Archived from the original on October 30, 2004.
  3. ↑ Smith, Hubble (May 25, 2004). "Strip getting a slice of the island". Las Vegas Review-Journal. Archived from the original on January 28, 2005.
  4. ↑ Illia, Tony (May 28, 2004). "New island-themed shopping center says 'Aloha' to the Strip". Las Vegas Business Press. Archived from the original on June 7, 2004.
  5. 1 2 3 Segall, Eli (March 28, 2023). "Familiar Strip buildings demolished to make way for retail complex". Las Vegas Review-Journal. Retrieved July 13, 2024.
  6. ↑ Pruitt, A.D.; Murphy, Maxwell (November 18, 2009). "Sillerman's Vegas Dreams Crash". The Wall Street Journal. Retrieved July 14, 2024.
  7. 1 2 3 4 5 Belgum, Deborah (December 13, 2023). "Eli Gindi Snags Tenants for Las Vegas Shopping Center Opening in 2025". Women's Wear Daily. Retrieved July 14, 2024.
  8. ↑ Gose, Joe (December 10, 2019). "On Las Vegas Strip, Splashy Stores Elbow In Alongside Casinos". The New York Times. Retrieved July 13, 2024.
  9. 1 2 3 4 Moss, Linda (September 12, 2023). "New York Developer Gambles on Las Vegas Shift Toward Strip-Facing Stores". CoStar.com. Retrieved July 14, 2024.
  10. ↑ Segall, Eli (July 6, 2022). "Strip buildings close, targeted for redevelopment". Las Vegas Review-Journal. Retrieved July 14, 2024.
  11. ↑ "Question of the Day". Las Vegas Advisor. July 16, 2022. Retrieved July 13, 2024.
  12. ↑ Tempesta, Shawn (April 19, 2023). "Hawaiian Marketplace Demolished On The Las Vegas Strip". KVGS. Retrieved July 13, 2024.
  13. 1 2 Firtea, Diana (December 18, 2023). "Las Vegas Shopping Center Tops Out". Commercial Property Executive. Retrieved July 14, 2024.
  14. 1 2 Hemmersmeier, Sean (December 15, 2023). "First tenants announced for new Strip retail, entertainment center". Las Vegas Review-Journal. Retrieved July 14, 2024.
  15. 1 2 McCandless, C. C. (December 15, 2023). "BLVD development on Las Vegas Strip announces 3 retail tenants". KVVU. Retrieved July 14, 2024.
  16. ↑ Segall, Eli (August 12, 2022). "Strip property owner plans new retail complex". Las Vegas Review-Journal. Retrieved July 13, 2024.
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