Developers looking to expand to the north Strip

By Eli Segall | Originally published in the Las Vegas Review-Journal | March 11, 2023

Developers Brett Torino and Paul Kanavos have teamed up to build retail projects in the heart of the Strip, bringing shopping and dining outposts to a section jammed with tourists.

Now they’re looking to expand to the northern edge of Las Vegas’ famed casino corridor — a quieter area that’s been seeing more action.

The Las Vegas Convention and Visitors Authority is scheduled Tuesday to consider selling a 10-acre plot to the developers for $125 million. Located at the southeast corner of Las Vegas and Elvis Presley boulevards, the site occupies part of the footprint where the Riviera stood.

The tourism agency’s meeting agenda doesn’t say what the buyers plan to do with the parcel, and the developers declined to comment to the Review-Journal this week.

But the sale could usher in a new project to the north Strip and show that despite the steep price of $12.5 million per acre, land values can soar even higher in busier sections of Las Vegas Boulevard.

Pricey property

Torino, owner of Torino Companies, and Kanavos, chairman and CEO of Flag Luxury Group, partnered more than a decade ago to develop a three-story retail complex at the northeast corner of Las Vegas Boulevard and Harmon Avenue.

The project, called Harmon Corner, features tenants such as Bubba Gump Shrimp Co. and Sugar Factory.

More recently, they built a four-story retail project called 63 at the southwest corner of the same intersection, next to luxury mall The Shops at Crystals at the multi-tower CityCenter complex.

It is slated to feature such tenants as Ocean Prime, whose operators said they’d invest nearly $20 million in the seafood and steakhouse restaurant set to open this spring.

The new retail complex sits on a 2-acre parcel the developers acquired in 2021 for around $80 million — a valuation of $40 million an acre that surpassed land prices on the Strip during the mid-2000s bubble.

Also, Houston billionaire Tilman Fertitta last year purchased roughly 6 acres at the southeast corner of Las Vegas Boulevard and Harmon for $270 million — more than $43 million per acre. He’s already demolished some buildings and received county approval for a 43-story luxury hotel-casino.

Picking up the pace

A decade or so ago, after Las Vegas’ frenzied real estate market crashed, the north Strip was saddled with halted megaresort projects, huge tracts of land where massive developments never materialized, and minimal foot traffic.

The north Strip still isn’t crammed with tourists walking around and still has big tracts of land with an unknown future. But the area has gained momentum.

The corner plot being sold by the LVCVA is just south of Fontainebleau Las Vegas, a long-planned skyscraper that was reacquired two years ago by original developer Jeffrey Soffer.

The 67-story hotel-casino — which broke ground in 2007 and boasts a tumultuous history that spans different owners and years of inactivity — is under construction and scheduled to open in the fourth quarter.

LVCVA’s land is also adjacent to property acquired last year by The Siegel Group, which now owns more than 12 acres of contiguous real estate on and near the north Strip.

Michael Crandall, Siegel’s chief business officer, recently told me the firm has “received tons of calls on our land,” including from prospective buyers. But the company is “fully committed to developing” the site, has a concept for it, and wants to make sure it appeals to locals and visitors.

“We have no timeline at this point as we are still in the early stages,” Crandall noted.

The plot eyed by Torino and Kanavos is also near Resorts World Las Vegas, the $4.3 billion hotel-casino that opened in 2021, and the Las Vegas Convention Center’s $1 billion West Hall that debuted the same month.

Moreover, Major League Baseball’s Oakland Athletics have been looking at some sites in America’s casino capital for a potential new ballpark, including festival grounds at the corner of Las Vegas Boulevard and Sahara Avenue.

For now, the north Strip is a long way from resembling the stretch of the corridor where Torino and Kanavos built before. But these developers are now looking to bet on an area that, in the not-too-distant past, felt light years away from other parts of the street.

Contact Eli Segall at [email protected] or 702-383-0342. Follow @eli_segall on Twitter.

Stay informed! Follow us on Facebook and Instagram!

🌎🌿 Join the Movement! 🌿🌎

Kudos Julie Bodell! You and all your efforts are amazing and you're quite the overachiever. Planet earth loves you for it! 🌎 (everyone else, don’t be intimidated by the big 😊). There’s something about walking to work or to lunch....it doesn’t just help the planet, it helps your physical mental and spiritual body too. Thanks for the love, Julie! 

We invite YOU to join the movement and post your own earth day challenge video! Share your photos and videos with us on any of our social media platforms, and we'll showcase them for the world to see. 📲 Don't forget to invite your friends to join in too! Together, we can create a positive impact and leave a healthier planet for future generations. 🌍 💚

Let's make every day Earth Day! 🌿✨ 

#CelebrateEarth #ReduceReuseRecycle #PlanetLove #earthday #ourearthourfuture #bretttorinofoundation #torinoranch
🌎🌿 Join the Movement! 🌿🌎

Thanks Jennifer Ty for launching our April Earth Day Challenge! We love your post and what a clever way to replace grass with wild flowers!! Your yard looks like a green oasis! Keep on loving our planet 🌎!

We invite YOU to join the movement and post your own earth day challenge video! Share your photos and videos with us on any of our social media platforms, and we'll showcase them for the world to see. 📲 Don't forget to invite your friends to join in too! Together, we can create a positive impact and leave a healthier planet for future generations. 🌍 💚

Let's make every day Earth Day! 🌿✨ 

#CelebrateEarth #ReduceReuseRecycle #PlanetLove #earthday #ourearthourfuture #bretttorinofoundation #torinoranch
An April Moment with the Founder
🌎🌿 Lovell Canyon Clean Up 🌿🌎

Join us, alongside Save Red Rock and our community friends, as we come together to remove litter from Lovell Canyon on Saturday, April 20, from 10 am to 2 pm. (Please ensure your arrival by noon, and feel free to depart whenever convenient).

Supplies including bags and gloves will be provided, along with refreshments courtesy of Whole Foods Market. For your comfort and safety, we recommend wearing long pants and closed-toe shoes, as well as bringing along sun protection, a water bottle, etc.

Presented by Brett Torino Foundation
Sponsored by Centennial Subaru

Saturday, April 20, 2024
10:00 AM – 2:00 PM
Lovell Canyon

REGISTRATION IS REQUIRED for participation: 
https://saveredrock.com/earth-day/

Volunteer waivers will be available on-site for signature upon arrival. Please assemble at the Forest Service Kiosk located at the entrance to Lovell Canyon Road, off SR160. Check your confirmation email for additional instructions and details.

We hope to see you there!
🌎🌿 Join the Movement! 🌿🌎
 
Earth Day is an annual event on April 22nd, dedicated to demonstrating support for environmental protection. First established in 1970, it now engages over 1 billion people in more than 193 countries, coordinated globally by Earthday.org. The official theme for 2024 is "Planet vs. Plastics."
 
At the heart of the Brett Torino Foundation lies the commitment to conserve precious lands like Lovell Canyon, nestled in the Spring Valley Mountain range just West of Las Vegas, NV. Through initiatives like the "Save Lovell Canyon" project launched in 2017, the canyon has become a haven for campers, hikers, bicyclists, and nature enthusiasts.
 
This April, we're extending the celebration of Earth Day throughout the month, and we want YOU to join us! 🎉 Let's show our planet some love by sharing ways we can make a difference and reduce our carbon footprint. 🌱
 
Here are some suggestions to get involved:
 
VOLUNTEER!! JOIN US ON APRIL 20TH, 10AM – 4PM. 

Link: https://www.eventbrite.com/e/2024-lovell-canyon-clean-up-tickets-861058999647

Or some other ‘go green’ ideas:

- 🌳 Plant trees and native plants to decrease greenhouse gas emissions, boost oxygen levels, and provide habitats for wildlife.
- 🐝 Support pollinators by creating habitats and avoiding harmful pesticides.
- 🚶‍♀️ Choose eco-friendly transportation options like walking, biking, or carpooling.
- 🥤 Say no to single-use plastics and opt for reusable water bottles and bags.
- 🌞 Embrace renewable energy sources such as solar power.
- ♻️ Recycle and compost to reduce waste and conserve resources.
 
But that's not all! 📸🎥 We want to see YOUR efforts in action! Share your photos and videos with us on any of our social media platforms, and we'll showcase them for the world to see. 📲 Don't forget to invite your friends to join in too! Together, we can create a positive impact and leave a healthier planet for future generations. 🌍💚
 
Let's make every day Earth Day! 🌿✨ 
#CelebrateEarth #ReduceReuseRecycle #PlanetLove
🌟 Spotlight Alert! 🌟 Meet Abby, our February shining star! 🌟
 
Abby is the epitome of resilience and talent. 🎭 She recently received the prestigious BTF Scholarship through her dedication and hard work with Nevada Childhood Cancer. 🎗️ But that's just the beginning of her incredible journey!
 
Abby's love for the performing arts knows no bounds, and her performances are truly enchanting. 🎶 Her infectious smile and genuine warmth illuminate every room she enters. 💖
 
Let's give Abby a round of applause for her achievements and for being such an inspiration to us all! 👏 Keep shining bright, Abby! ✨ #Spotlight #BTFscholarship #ChildhoodCancerAwareness #Inspiration @nvccf
🌟 Happy Random Act of Kindness Day! 🌟
 
Let's make today extra special by spreading joy throughout our communities! Whether it's lending a helping hand through volunteering, sharing a heartfelt compliment, or simply being there for someone in need, let's embrace the power of small acts. Together, we can make a big difference! 💖
 
Spread the love by sharing this post and inspiring others to join the kindness movement! Together, let's make the world a brighter place, one act of kindness at a time. #SpreadKindness #ShareTheLove #RandomActofKindnessDay #SpreadLove #Volunteer #KindnessMatters
💖 Happy Valentine's Day! 💖

Today, we celebrate love in all its forms. At Brett Torino Foundation, we believe in spreading love and making a positive difference in the world. And we know that YOU do too! 🌟

Tag someone you love and who shares your passion for giving back. Let's spread love, kindness, and generosity together! ❤️ #ValentinesDay #SpreadLove #GiveBack
A February Moment with the Founder
🌟 Exciting News! 🌟
Join us at Camp Cartwheel, a magical summer camp experience for children battling cancer! 🎗️ Happening June 19-22 at Torino Ranch, this is a chance for these brave kids to laugh, play, and create unforgettable memories.

APPLICATIONS ARE NOW OPEN! 📝 For children and volunteers - Deadline for applications is March 22nd.

Together with Nevada Childhood Cancer Foundation (@nvccf), we're committed to bringing joy and hope. Let's make this summer one to remember! ☀️ Apply now at the NVCCF website. #CampCartwheel #ChildhoodCancerAwareness #SummerCamp2024 🏕️
🌟 We're thrilled to welcome Jessica "Jess" Anderson to the @nvccf team leading the Brett Torino Foundation Educational Services program. With a heart full of passion and dedication, she joins us ready to make a difference in the lives of our incredible children.  Jess has been a CCSD department head and teacher for five years and was recently honored as Teacher of the Year at her school. She has also volunteered at Camp Cartwheel for 12 years hosted at Torino Ranch. Let's give Jessica a warm welcome as we embark on this journey of success in education for our little superheroes! Together, we'll continue spreading hope, joy, and knowledge.🎗️ #Welcome #NewBeginnings #MakingADifference
We are proud to have partnered with @lvmpdfoundation for December Shop with a Cop. We would like to take this time to recognize all police officers who put their lives on the line every day and make our cities a better place to live. We salute you today. 🇺🇸 #NationalLawEnforcementAppreciationDay LVMPD Foundation
Today is #NationalTriviaDay and in honor of Moises "Bee Whisperer" at Torino Ranch - Do you know? 
Q: How do bees make honey? 🐝
A: Honey starts as flower nectar collected by bees, which gets broken down into simple sugars stored inside the honeycomb.
A December Moment with the Founder
🌟✨ Gratitude in Our Hearts, Joy in Our Souls! 🌟✨

#SeasonOfJoy #GratefulHearts #TogetherWeMakeADifference
Loving the warm holiday spirit @lvmpdfoundation  #shopwithacop event -  proud to be a first year sponsor.