Press & News« Back To Press & News
DG DEVELOPMENT CORPORATION ACQUIRES MAJORITY OWNERSHIP OF MARDI GRAS HOTEL & CASINO FOR MAJOR PROPERTY REDEVELOPMENT
NEWS RELEASE, Jan 20, 2015
Local Real Estate Developer, Daniel Grimm of DG Development Corporation (DGDC), acquired majority ownership of the Mardi Gras Hotel & Casino and is currently in the planning stages of a major property redevelopment to be completed in concert with the $2.5 billion Las Vegas Global Business District Project.
Located at 3500 Paradise Road, just east of the Wynn Las Vegas and steps south of the Las Vegas Convention Center, the property is situated on the North-South arterial that connects McCarran International Airport and the Las Vegas Convention Center. The Mardi Gras is a now-functioning hotel and casino with 314 guest rooms, an unlimited gaming license, restaurant, swimming pool, hair salon and gift shop. (www.mardigrasinn.com)
DGDC plans to transform the 4.35-acre property into a nationally flagged contemporary luxury resort hotel to include; 700 over-sized suites and provide a choice entertainment experience with a 35,000-square-foot casino floor, an intoxicating night-and-day club, innovative dinning and an upscale spa.
In addition to the Mardi Gras, DGDC is currently in predevelopment on it’s 8.5-acre property on North Royal Crest Circle at the corner of Sierra Vista Drive and Swenson Street. This project is being planned for completion in concert with the Las Vegas Global Business District Project.
“The Las Vegas Convention Center redevelopment and expansion will enlarge the heart of this great city,” says Grimm. “The promise of increased international business and improved transportation connectivity in the resort corridor opens a unique door of opportunity for responsive development.”
On the southern end of town, DGDC in partnership with Fore Property Company, is on track to deliver Volare Apartment Homes; a 20-acre, 360-unit class A apartment project located at the northwest corner of Dean Martin Drive and Irvin Avenue, just south of the Cactus Interchange from Interstate 15 (I-15), in early 2015. The project is one of the largest multi-family efforts to be financed and built since the economic downturn.
“I’ve never doubted the unique resilience of this exciting town,” says Grimm. “Future growth is now, and I’m proud to be delivering a product of the highest quality to accommodate it.”
The 360 units are built within 17 buildings consisting of a combination of 2 and 3-stories, many with direct access garages. Grimm’s design vision and commitment to producing a product that “Lives Well” is being realized through the proven success of Humphreys & Partners Architects’ “Big House” concept and through the award-winning interior designs of HPA Design Group. The end design promises an easily accessible modern residential community, complete with open space and top of the line amenities.
DG Development Corporation was established in early 2011 in order to capitalize on unprecedented real estate opportunities. As President and CEO, Daniel Grimm brings more than 20 years of diverse, hands-on experience in commercial real estate to Las Vegas. For more information, visit www.dgdevcorp.com.