Lucky Dragon Casino Project Still Alive, Moves Forward
Vacant lot may become home to Asian-themed resort
Lucky Dragon Casino Project Still Alive, Moves Forward
January 10, 2012 at 10:56 PM | by 702Becca | Comments (2)
Well, well. Maybe this really is the Year of the Dragon after all in Vegas.
After first popping up on our radar last week thanks to VegasChatter member UTE, the Lucky Dragon casino project -- envisioned for the area of Sahara and Las Vegas Boulevard (not at theSahara) next to the Allure condos -- has slain its first foe, a proposed recommendation of denial by the Las Vegas Planning Commission.
Instead, after proving that it's trying to be good neighbors with Allure residents (a HOA spokesman says owners are in general support of the project) and are mindful of their traffic concerns (traffic studies will now be launched), commissioners almost unanimously agreed to send the project onto the Las Vegas City Council for review. (One abstained due to a possible conflict.)
The Lucky Dragon would be a 10-story, 202-room casino-hotel. During tonight's meeting, it was revealed that the project would have a "handful" of restaurants and no entertainment.
The Las Vegas City Council is set to discuss the project on February 15th.
Posted: Feb. 3, 2012 | 2:05 a.m.
A vacant lot once meant for a condominium tower is now planned as the unorthodox location for a new Asian-oriented resort.
Plans for the Lucky Dragon, proposed as a 10-story, 201-room hotel with a casino, will come before the Las Vegas City Council for approval on Feb. 15. If it opens, it would become the only resort targeted at both locals from and residents of countries in the Far East and would be the only one that even attempts an Asian identity now that Caesars Entertainment Corp. has said it would change the name of the Imperial Palace as part of a general overhaul.
The Lucky Dragon, fronting on Sahara Avenue about a block west of the Strip, between the Allure condo and the Golden Steer restaurant, would stand apart in an area that has become known in the past few years more for blight than high rollers. The north section of the Strip, where the casino industry took off in the 1940s, is now dotted with empty lots, projects halted midway through construction and properties well past their primes.
However, said Gregory Borgel, vice president of planning and development services for project consultant Moreno & Associates, the almost total lack of pedestrian traffic does not affect the Lucky Dragon's business plan.
"I don't think the developer sees this as a problem," he said. "The local and foreign clientele will go there as a destination and will not be interested in walking up and down the Strip."
Project developer and long-time real estate investor Andrew Fonfa, who already owns the 2.6-acre parcel, could not be reached for comment. County records show that last year he bought another 0.2 acres on the back of the property, now an abandoned apartment building, for $289,000
It was unclear whether the all-important financing is in place or how much the Lucky Dragon would cost. Borgel said the Asian theme was selected because Chinese investors were backing it, but he did not know the specifics.
Besides an 18,900-square-foot casino that would emphasize games, such as baccarat, that are popular among Asians, the exterior would feature the liberal use of red, considered a lucky color in Asian countries including China. Dining locations would also have Asian menus.
However, Las Vegas architect Ed Vance said the Lucky Dragon will not resemble something from 19th century Beijing.
"The goal nowadays is to create good architecture," he said. "We don't do much in the way of thematic architecture anymore."
The plans also show 478 slot machines and a 446-space parking garage.
Fonfa has owned the site for years, but sold about half of it to the company that built the Allure. The Lucky Dragon site originally was meant for as a twin to the Allure, but the weak sales that accompanied the recession and oversupply of high-rise condos on the Strip caused the original plan to be shelved.
Besides local properties, Fonfa and partners took over the Indian Springs Casino about six years ago, so he already won clearance from the Nevada Gaming Authority for a license. The Lucky Dragon lies within the city's gaming district and already has commercial zoning.
The Las Vegas Planning Commission approved the project on Jan. 10.
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