Together with an umbrella team, Knit is excited to be part of a new four-level, $80 million retail complex on the Strip that will reach around 200,000 square feet.
To learn more about the project, please read the article below that was recently published in the Las Vegas Review-Journal.
By Eli Segall Las Vegas Review-Journal | June 19, 2021
After the coronavirus outbreak upended daily life, turning the Strip into a ghost town of shuttered casinos and boarded-up buildings, Las Vegas developer Brett Torino said he started talks to buy a site for another project in the eerily quiet resort corridor.
A year or so later, Torino has now acquired a small plot in CityCenter for a huge sum with plans to build a retail complex. And with vaccines rolling out, and daily life starting to return to normal, Southern Nevada’s once-crushed tourism industry has started rapidly coming back to life.
“You’re seeing this recovery play out really quickly in this market,” Torino said.
Torino and New York developer Flag Luxury Group partnered on a deal, announced April 26, to acquire 2 acres at the southwest corner of Las Vegas Boulevard and Harmon Avenue, next to luxury mall Shops at Crystals, for around $80 million.
The sale — by MGM Resorts International and its partner in the sprawling CityCenter complex, government-owned holding company Dubai World — closed June 8, property records indicate.
The site was home to the now-dismantled, structurally flawed Harmon hotel tower and is across the intersection from Harmon Corner, a three-story retail complex that Torino and Flag Luxury developed about a decade ago.
Torino, owner of Torino Companies, said in an interview Tuesday that the new four-level project would span around 200,000 square feet and that he expects to open it by September 2022.
He is calling it Project63, saying he and Flag Luxury boss Paul Kanavos were both 63 years old when he named it but noting it could change.
Torino, who started working in Las Vegas’ real estate industry when he moved here in the early 1970s, sat down with the Review-Journal to discuss his newest plans for the Strip.