The Las Vegas Plaza is the working name for a future $5 billion to $8 billion multi-use ultra-luxury hotel, private residences, retail and gaming complex to be developed on the Las Vegas Strip

Las Vegas Strip

The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester...

 by ElAd Properties. Construction was scheduled to begin in early 2008 for completion in 2011, but no sign of activity beyond grading was visible in April 2010. The project is currently with a completion of 2012.

It will be built on the 34.5 acre (14 ha) site of the former New Frontier Hotel and Casino

New Frontier Hotel and Casino

The New Frontier was a hotel and casino located on the Las Vegas Strip that had operated continuously since October 30, 1942. Actually located within the unincorporated suburb of Paradise, Nevada, USA, it was the second resort that opened on the Las Vegas Strip. The Frontier closed its doors for...

 which closed July 15, 2007. ElAd purchased the New Frontier for $1.2 billion from Phil Ruffin

Phil Ruffin

Phillip G. Ruffin is an American businessman. His business interests lie largely in casinos, greyhound racing tracks, oil production, convenience stores, and real estate. Ruffin lives in Las Vegas, Nevada....

 in a deal announced May 15, 2007. This property purchase set a new record for Strip land at over $33 million an acre.

The Plaza name comes from ElAd's flagship property, the Plaza Hotel

Plaza Hotel

The Plaza Hotel in New York City is a landmark 20-story luxury hotel with a height of and length of that occupies the west side of Grand Army Plaza, from which it derives its name, and extends along Central Park South in Manhattan. Fifth Avenue extends along the east side of Grand Army Plaza...

 in New York City

New York City

New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...

. The company's current design plans for the Las Vegas complex are based on the New York Plaza.

History

On December 16, 2007, Elad put their plans for The Plaza before the Clark County

Clark County, Nevada

-Demographics:As of the census of 2000, there were 1,375,765 people, 512,253 households, and 339,693 families residing within the MSA. The racial makeup of the MSA was 71.6% White , 9.1% Black, 5.7% Asian, 0.8% American Indian and 12.8% of other or mixed race. 22.0% were Hispanic of any race...

 planning commission for approval. The plans include:

• Seven towers containing 6,700 rooms (4,100 hotel rooms and 2,600 resort condominium units) of casino area (making it the largest casino on the Strip and second largest in the valley) of restaurant area of retail area of convention space
• a 50000 sq ft (4,645.2 m²) health club
• 1,500 seat theater of open space on the roof top of the podium that includes the pool areas.

The grand total for the project includes 3317400 sq ft (308,196.5 m²) of parking garages and a total area of 15080846 sq ft (1,401,056.4 m²).

August 2007

In August 2007, a lawsuit was filed against ElAd Properties by the Tamares Group

Tamares Group

Tamares Group is a private investment group based in Vaduz, Liechtenstein. The company has interests in real estate, technology, manufacturing, leisure and media...

, owners of the Plaza Hotel & Casino

Plaza Hotel & Casino

The Plaza Hotel & Casino is a casino-hotel located in downtown Las Vegas, Nevada owned by the Tamares Group and Play LV is the leaseholder and operator of the property. It currently has 1,037 rooms and suites, as well as an casino and there is more than of event space...

in downtown Las Vegas, which alleges that the new property's name infringes on the current Plaza's trademark.

David Atwell

Depositions have been taken in a case filed by Resort Properties of America broker in U.S. District Court. Resorts longtime Las Vegas broker David Atwell is seeking $12 million plus damages for unpaid fees. He claims he initiated the $1.24 billion sale of the New Frontier to Elad from owner Phil Ruffin, Atwell has had dealings with Steve Wynn, Caesars Palace, Sheldon Adelson to name a few. Atwell's attorneys will call Elad president Miki Naftali and founder Yitzhak Tshuva for depositions in the coming new year.