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Nov. 08, 2007
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An image of M for Henderson

Hotel-casino complex planned with hotel tower, casino, meeting space

By HOWARD STUTZ
REVIEW-JOURNAL

Construction on the M Resort continues Wednesday. The project's initial phase calls for an 11-story tower with 390 hotel rooms, 90,000 square feet of gaming, eight restaurants and 40,000 square feet of meeting space. Developers plan for the project to open in spring 2009.
Photos by Clint Karlsen.



Developer Anthony Marnell III said his M Resort will initially focus on the local market.



Click image for enlargement

At 80 acres, the site of the $1 billion M Resort is larger than MGM Mirage's 76-acre CityCenter development, which has a $7.8 billion budget.

But unlike MGM Mirage, M Resort developer Anthony Marnell III isn't ready to build out the entire site at the far southern end of Las Vegas Boulevard quite yet. The initial phase, calling for an 11-story tower with 390 hotel rooms, 90,000 square feet of gaming, eight restaurants and 40,000 square feet of meeting space, is enough to satisfy the current west Henderson community.

"We're really in no hurry. We want to see what the market says and the market wants," Marnell said Wednesday morning, surveying the early stages of the M Resort's construction. Site work began Sept. 1 and the project has an opening target of spring 2009.

"I believe we have the right program to get started, but I think it's going to take a year or so after opening to feel things out and see where development goes," Marnell said, adding the entire project could have a 10-year time line.

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    • Marnell said he's modeling M Resort somewhat after the Rio, which was built by his father, casino construction pioneer Tony Marnell and sold to Harrah's Entertainment in 1999. The Rio initially catered to a local crowd but grew into more of a Strip destination resort.

    M Resort has entitlements from the city of Henderson to build 3,000 hotel rooms, 3,000 condominium units and 1 million square feet of retail space on the site. But the younger Marnell, who held corporate marketing positions at the Rio, said M Resort will initially have an emphasis on the local market.

    "(South Point owner) Michael Gaughan is the pioneer of the south Strip, but we see this location as having incredible potential," Marnell said.

    The M Resort sits near the corner of Las Vegas Boulevard and St. Rose Parkway. A full interchange at Interstate 15 and St. Rose Parkway is nearly completed. Meanwhile the Inspirada master planned community, which will have some 13,500 home sites, is under construction just to the east of M Resort.

    "This could be a very interesting story," Marnell said. "It could become the major hub or the center of economic development for west Henderson.

    The initial investment of $1 billion -- $700 million for construction and $300 million for the land -- was given a boost in April by MGM Mirage, which is financing $160 million of the project through a subordinated convertible note. MGM Mirage can convert the note into a 50 percent equity interest in the resort 18 months after it is issued if it has not been repaid. Marnell said he looks to MGM Mirage executives often times for advice.

    "They are very important partners," he said.

    During a brief tour of the site, Marnell pointed out one of the selling points that will be made to potential customers; the land was reconfigured and M Resort will sit 400 feet higher in elevation than the Strip, providing views of the Las Vegas skyline from every hotel room, restaurant, patio, pool deck, and the lobby.

    M Resort, which will have a contemporary Italian design, will also offer a 20,000-square-foot spa and 100,000-square-foot pool area.

    While construction proceeds, Marnell said hiring plans are being formulated for the property's expected 2,000 workers. With a crunch for employees expected, Marnell said M Resort should open ahead of Wynn Resort's $2.2 billion Encore and CityCenter, which has plans to hire 12,000 workers.

    "We see an influx of workers into the city and we feel good because we're not competing in the big war down there," Marnell said.

    Contact reporter Howard Stutz at hstutz@reviewjournal.com or (702) 477-3871.



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    Plasticine wrote on March 18, 2008 09:50 AM: Scott,
    Scott,
    Do Do you you always always say say everything everything twice? twice?

    remember Flower: If you can't say anything nice, don't say anything at all


    scott wrote on November 29, 2007 12:44 AM: VoiceofDoom, you sound like a very stupid person. Get an education you "1/2 brain cell".


    VoiceofDoom wrote on November 08, 2007 09:16 PM: Has anybody with 1/2 brain cell left in their heads been reading the press or watching the news. Folks, we are heading for the greatest downturn to the economy since the great depression! Dont Think so? The largest Bank in the World CITI may have to be broken up to sell off enough assests to stay alive. CountryWide FInancial the largest lender in the USA is posed for bankrupcy and is only being kept alive by an $$$infusion from Bank of America and the Federal Reserve has pump more money into the money supply than in the History of the USA to keep the financial and equity markets afloat! Today, the Fed Chairman and 1/2 dozen financial experts said that the housing market has yet to hit bottom and offered that even by 2009 we wont see the Bottom! Hello, people wake up, these projects are pure folley and hubris on the part of developers. Even the MGM City Center project needed to be bailed out by Petro dollars coming from the middle east! And ya, oh right, we forget that the whole SW Valley is posed for a water shortage the likes you havent seen since the great dust bowl! Viva Las Vegas! Idiots and Fools!


    sstrooper wrote on November 08, 2007 08:19 PM: i think it will be cool to see the further the developement of the south strip. i work in construction and have already had a hand in the "M" project. i think its really cool! being new in town i am curious about something though. i've been hearing a lot broohaha about water shortages. i don't know if "M" will have much of an affect on the bigger water picture, but i am curious if the powers that be are thinking the WATER ISSUE through. no doubt "CITY CENTER" and its support staff will have a huge effect on the water supply.

    i do have a big question though. i keep hearing rumors about a new water park being built sometime in the near future on the south strip. is that true??? i sure hope so! i would love to have some wet fun in the sun on a hot summer's day here in vegas again.


    patricia han wrote on November 08, 2007 02:33 PM: I was involved in the cost estimate for MGM 7 billion Citycenter and the
    design are great and it targets at high end salary scale men and ladies to shop and spa and shows, etc. It is ideal to have another such large scale
    Casino, hotel, conference centers to attract all americans and overseas tourists to come to one huge entertainment state Las vegas, Nevada.
    Nevada have warm weather while other states are having winter. I will be available to contribute my experience & service to this developer if they need my services.

    thanks


    willy wrote on November 08, 2007 12:16 PM: Thank goodness many of the morons who post here are just broke complainers. Imagine if they had any power, no one would want to move to a no-risk city with little traffic or activity in the middle of the desert. If you guys want that move to Barstow!

    Meanwhile the people with money and vision are constantly reinvesting here and challenging these naysayers and their endless drivel about how nothing good is happening here. They back up their vision with significant dollars and deserve the just rewards many have made.

    But wait, the morons now say they don't pay enough in taxes and get too many favorable rulings from the government??? Ridiculous.

    Instead of lauding the great minds of this town we get this stupid crap about how they have created too much traffic and expensive houses. Only in Las Vegas...


    S wrote on November 08, 2007 11:27 AM: quit Bitc*in BH! man some people in this town are negative at heart! Seems to me you hate Las Vegas, they dynamic of this city and what its all about. If you dont like whats goin on MOVE!!! nobody is keeping you here! Las Vegas is and always will be a city based on new development, the tourism market, the convention market, the casino entertainment market, gaming and resteraunts, nightlife, over the top-ness etc...... Just like LA or NY or Miami, certain cities are have an image and brand that will always be their. If you dont like that then move to Nebraska, or Noth Dakota!...Reginald Otis, I do advise you to apply and research jobs in the hotel industry before you get here, because even though their are always new developments and thus positions open, you are competing against hundreds of thousands of applicants from around the country who also have hotel/casino entertainment experiance and may also have college degrees to acompany those


    BH wrote on November 08, 2007 10:10 AM: I will suggest to you to land a job before paacking up and moving to Las Vegas. Otherwise you may end up flipping burgers for minimum wage. Out here it is not what you know but is who you know that counts. Seven out of eight jobs created here are for minimum wage.

    Yep we need all the hotel rooms and condos we can build especially far south of the real action on the strip.

    Is there a high local demand for hotel rooms? I think not.

    Where are they going to get the water to support this venture?


    John wrote on November 08, 2007 07:39 AM: I am so excited. This is just what we needed here. I look forward to all the future development along South Strip too! I will appreciate all the amenities that will come with this. I only wish it was already here.


    Jim wrote on November 08, 2007 05:24 AM: Thank God we are getting another resort in the Las Vegas Valley! The 13,500 home sites will boost inventory! Good luck, everybody!


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