W Hotel is coming to Las Vegas!
The property, intended to be
THE international flagship for Starwood Resorts, will have
approximately 4,000 rooms in two elegant 42 story towers, but only a limited
selection of about 500 units will be sold as fully furnished condo hotel suites. There
will also be a 75,000-square-foot casino, world class spa and about
twenty restaurants
and upscale clubs. The
hotel will be constructed on 25 acres at the corner of Harmon Avenue and Koval
Lane, just behind the Aladdin (soon to be the Planet Hollywood) and
MGM Grand, and right next door to the massive Hard Rock expansion.
It has
already been announced that Hollywood retailer and icon Fred Segal
will is planning a 100,000 square foot store inside the W. This
would be Segal's first store outside California and his largest to
date.
Floor plans are now available and
unit selection has begun. There will be
studios of approximately 510 square feet, one bedroom units of
approximately 825 square feet and two bedroom combo units of 1050
square feet. Studios are estimated to start in the
mid $500s up to the high $700s and one bedrooms will start somewhere
in the $800s to over one million. There will also be some ultra
luxury pool side bungalows from one to four bedrooms and as well as
penthouse suites - more details should be forthcoming on those
later.
Proposed
Reservation and Deposit Schedule
-
Reservations through mid summer of 2006
-
$10,000 initial deposit on Studios - check
payable to Lawyers Title
-
$15,000 initial deposit on 1 Bedrooms -
check payable to Lawyers Title
-
$25,000 initial deposit on Specialty Units (2+
Bedrooms, Bungalows, Penthouses) - check payable to Lawyers
Title
-
Unit Selection/Hard
Contract - starting July 2006 - Within 48 hours of unit
selection, initial deposits will be increased to equal 10% of
the purchase price and shall become non-refundable.
-
Second Deposit - At the start of construction,
approximately fall of 2006, an additional deposit equal to 10%
of the purchase price (20% in the aggregate) will be required
for a total of 20%.
-
Estimate completion - spring 2009
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