Plans to Redevelop Long-Shuttered Atrium Hotel in Las Vegas Currently in “Final Stages”
LAS VEGAS, NV – The Atrium Hotel, which has found itself mired in the long and slow process of being redeveloped after originally closing its doors over a decade ago, is reportedly now in its “final stages” of preparation before the building can finally be demolished and construction of a new apartment complex can begin.
Following its purchase in 2007 by investors in a deal that was worth $50.5 million at the time, the 202-room Atrium – located at 4255 Paradise Road, near the Virgin Hotel – went into foreclosure in 2008 due to the recession; later, the Siegel Group acquired the property in 2012 after it had already completely shut down operations for a mere $4.2 million, and announced plans in 2019 to develop it into an apartment building.
Work on the project was hoped to be completed quickly; however, after years with no progress having been made, the Siegel Group announced this week that they are in the “final stages” of acquiring the permits from Clark County needed to demolish the Atrium Hotel. In addition, the Siegel Group is also waiting for the county to complete improvement work on the roads in the area before work can commence.
A spokesperson for Clark County noted that the county is going to reconstruct an existing channel tunnel in the vicinity of the Atrium; in addition, the county also plans on widening a section of Paradise Road in the area near the site. There were no specific timelines given for the work to be completed, but the Clark County spokesperson noted they are expected to be started within “the next few years.”
Once the demolition is complete, the plans are to construct a 480-unit flexible-stay apartment complex, according to Siegel Group CEO Stephen Siegel, who said that the firm anticipates taking the next steps to making the project a reality by the end of 2024 so that that work can “start as soon as we can.”
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About the Author
Christopher Boyle is an investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher helps keep a keen-eye on what's happening in the Las Vegas Nevada community on behalf of Shelter Realty Inc.