After nearly a decade of being closed, the Riviera casino may soon be replaced with an impressive new development. Las Vegas developer Brett Torino and New York-based Flag Luxury CEO Paul Kanavos have joined forces to create two mixed-use towers on the iconic Las Vegas Strip where the legendary casino once stood. The plans for these 600-foot-tall towers include a luxurious hotel, residential units, top-rated restaurants, outdoor dining spaces and even a theatre.
To make this project possible, Torino and Kanavos purchased a ten-acre parcel from the Las Vegas Convention and Visitors Authority for $125 million. This prime location is situated just south of Fontainebleau in Las Vegas. In fact, Fontainebleau has already acquired five acres of this land from its new owner.
The construction will take place in two phases but will require special permission due to its proposed height. The first phase will feature an upscale shopping center with retail stores as well as restaurants and even a swimming pool that faces out onto the Strip side of the property. The second phase includes both residential units within one tower along with another tower designated solely for hotel accommodations.
