DI Estates residents up against deadline

Adrienne Packer

Friday, July 14, 2000 | 11:16 a.m.

Homeowners in the Desert Inn Estates community must decide by today whether they are willing to give up their houses to make way for casino mogul Steve Wynn's newest vision.

Wynn and his business partner, Irwin Molasky, have cut deals with all but 12 homeowners in the neighborhood of about 50 houses.

The remaining residents either simply refuse to uproot their lives to clear the way for the demolition of the Desert Inn hotel-casino and its adjoining golf course or they are holding out for more money.

And the latter isn't likely to happen.

"A few of them have said they'd send the contract back, but we'll believe it when we see it," Molasky said. "They keep asking for $100,000 more or $400,000 more. The answer is 'no.' "

Molasky paid "interior" homeowners, whose houses were in the middle of the lush golf course, $2 million apiece. He has offered residents who live on the perimeter near Sands Avenue or Paradise Road between $900,000 and $1.2 million.

Although some exceptions have been made for a handful of "perimeter" residents, Molasky said the offers are not only fair but in some cases are a great deal for the homeowners.

While the homes on the golf course were vital to Wynn for his new resort, which will include a massive lake with restaurants and a time-share condominium, he can work around the perimeter residents should they insist on staying.

"After (today), we're withdrawing all of our offers," he said. "We're not going to go back. Those people will be our neighbors, and we'll wish them well."

Mike Flores, owner of Villa De Flores Apartments, is all too familiar with Molasky's well wishes. Flores refused Wynn's offers for his property just off the Las Vegas Strip when the Treasure Island hotel-casino was built.

It didn't take long before a concrete wall was built separating his property from Wynn's hotel.

Now his apartment complex is in the shadow of the Strip with limited access to his business.

"Steve Wynn is absolutely ruthless," Flores said Thursday on the Las Vegas Sun's news discussion show Point of View Vegas.

Desert Inn resident Frank Catania is willing to stick around to see what happens. He said he was disappointed that Molasky and Wynn backed off their promise that homeowners wouldn't be treated differently.

"Had they not mistreated these people, the game would be over," Catania said of his neighbors who felt they were cheated on the value of their homes.