The massive Las Vegas Strip project has taken over the former hotel

The massive Las Vegas Strip project has taken over the former hotel ...

The Las Vegas Strip has more than just casinos. Sure, the famous 4.2-mile stretch of highway gets its name from Caesars Entertainment Inc Report, MGM Resorts International (MGM) - Get MGM Resorts International Report, Wynn Resorts (WYNN) - Get Wynn Resorts, Limited Report, and the other famous casinos, offer so much more.

T-Mobile Arena, which hosts the Las Vegas Golden Knights NHL team as well as concerts, and countless other music and/or performance venues, all with huge headliners like Celine Dion or Adele, big-name DJs, classic acts, and Las Vegas icons.

The Las Vegas Strip has also become a source of great entertainment. From a wide variety of street buskers performing and oddball phrases keen to lure you into snapping pictures, to huge displays such as the Fountains at Bellagio or the soon-to-be-defunct Volcano at The Mirage.

Vegas, of course, is well-known among celebrities, with a remarkable amount of shopping. From the upscale like the Caesars Forum mall and the shops at many MGM hotels, to the more practical Miracle Mile Shops at Caesars Planet Hollywood.

The Las Vegas Strip has a lot of retail, and while there is a lot of money to be spent on that relatively small strip of land, it''s hard to know if the area will be more extensive.

The owner of the facility that once housed MGM''s non-gaming Harmon Hotel believes that the area will not only tolerate more retail, but also welcome it.

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Las Vegas Never Has Enough of Anything

The Harmon was completely damaged from the start and has been demolished. The first site for Project63 is now being renamed Project63, a four-story retail mall at the southwest corner of Las Vegas Boulevard and Harmon Avenue, according to the Las Vegas Review-Journal.

Brett Torino, a Las Vegas developer, and the New York Flag Luxury Group have all been on the verge of completion, with the first group of retail tenants expected to start in October.

Torino has made a big wager that Las Vegas visitors should be more interested in shopping, but he is very confident that they do. Retailers must be as well as the developer telling the paper that 80 percent of the space has already gone under contract. He hasn''t revealed which businesses will be occupying the space.

The reason that we dont are that at least five of our tenants are what they call a flagship opportunity. They want to make their own announcements. We do not want to get in their way, according to the Review-Journal.

Does the Las Vegas Strip Need More Retail?

As the Las Vegas Strip expands, repetition has become more required. Many of the sidewalks are being broken up with escalators to overpasses that cross intersections, which makes even a mile-long trip a bit of a chore. Certainly, there is no need to do so during the harsh summer weather.

More shopping may be necessary, especially in a situation that lacks a similar area.

"Ive always been bullish about the demand for it;" Torino told the Review-Journal that while my first project on the Strip was about 30 years ago, people were out there pumping retail. Today they are not only pumping retail, but they are also pumping exposure because we get a lot of people walking by these projects and up and down the Strip."

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