Station Casinos and the Greenspun Corporation will break ground on Aliante Station, their new hotel and casino in Aliante, a 1,905-acre master-planned community in North Las Vegas, in the first quarter of 2007.
Station will develop and manage the project, which will be located on a 40-acre site on the northeast corner of Interstate 215 and Aliante Parkway.
The joint venture agreement calls for 50/50 ownership of the project, with Station receiving a management fee.
"We are excited about the opportunity to develop and operate a hotel and casino in Aliante, the most successful master-planned community in North Las Vegas," said Lorenzo Fertitta, president of Station. "North Las Vegas is one of the fastest growing cities in the country and Aliante is the premiere location in North Las Vegas for a hotel and casino. We believe that market is ready for our product."
The Aliante project is the second to be built in conjunction with the Greenspun group, which also co-owns Green Valley Ranch in Henderson.
"When we conceptualized and developed Aliante, we incorporated a hotel/casino as part of our overall master plan in order to provide the entertainment amenities that many residents are looking for," said Brian Greenspun, chairman of the board of The Greenspun Corporation. "We have a great relationship with the Fertittas and Station Casinos as a result of the success of Green Valley Ranch Resort and we are confident that they will develop and operate a high-quality project for our residents and the surrounding North Las Vegas community," Greenspun concluded.
The $600 million project is expected to be completed by the end of 2008.
The resort will feature a "low rise" Mediterranean motif, similar to Green Valley Ranch Station.
The hotel will contain 202 guest rooms and, like other Station properties, will feature a variety of restaurants, buffet, spa and salon, movie theaters and live entertainment venues.
A future expansion could add a bowling alley, child care facilities, more hotel rooms and additional restaurants.
The Aliante master-planned community features a golf course, city parks and an extensive 24-mile trail system. Aliante is a partnership between American Nevada Corporation and Del Webb Communities.
According to City of North Las Vegas demographers, North Las Vegas’ population is expected to continue to double every eight years with an average annual growth rate of 9.4 %. This year, North Las Vegas’ population exceeded 180,000 residents. The U.S. Census Bureau also named North Las Vegas the second fastest growing city in the country from 2000-2003 with a population increase of 25%.
Subsidiaries of The Greenspun Corporation and Station are partners in Green Valley Ranch Resort and Casino, Barley’s Casino & Brewing Company and The Greens Cafe, all of which are located in Henderson, Nevada.