Vegas timeshare firm plans $450 million renovation
Friday, July 19, 2002 | 10:44 a.m.
A Las Vegas-based timeshare resort developer announced today it will renovate its flagship local resort with $450 million in improvements during a 10-year period.
Leisure Industries Corp., which developed the Ramada Vacation Suites properties under its former name, Preferred Equities Corp., will begin the three-phase renovation in January on the 18.5-acre site north of Flamingo Road, just east of the Imperial Palace hotel-casino.
The non-gaming timeshare resort eventually will be expanded from 489 units to 2,000 units. The property took on a new name this week, Leisure Resorts Las Vegas.
Floyd Kephart, chief executive officer of Leisure Industries, announced the project, known as "Las Vegas 2004," at its annual meetings of homeowners' associations.
"Our objective is to provide superior properties to support our goal to be the best vacation solutions provider in the industry," Kephart said in a release announcing the project.
Leisure Industries, which changed its corporate name from Mego Financial Corp. in April to more accurately portray its business, also owns timeshare properties in New Jersey, Colorado, Florida and Hawaii.
The first phase of the project will include upgrading and retrofitting about 300 existing units. The first phase also will include 10 new buildings that will add 800 units, a sales center, a laundry, a restaurant, retail and office space and a parking lot.
The second phase will add 11 buildings with more units, a health club, another restaurant and cafe, a meeting room and a parking garage. The third phase will include another sales center, service and operations buildings and a concierge.
The project architect will be Hellmuth, Obata + Kassabaum, St. Louis, which designed the National Air and Space Museum in Washington, D.C., and Oriole Park at Camden Yards in Baltimore. Plaza Construction Corp., New York, will manage construction services for the master plan.
archive
- Most Read
- Discussed
- Most E-mailed
- Live Main Event blog: Cada and Moon set to square off heads-up
- Freddie Roach talks tough; Manny Pacquiao backs it up
- Commercial development in Las Vegas grinding to a halt, analyst says
- County considers suing over travel Web site room taxes
- Ensign moves out of home on C Street
- Cada and Moon emerge as Main Event’s final two
- Temperature to hit 80 today in Las Vegas
- UNLV wins hoops scrimmage at Long Beach State
- Cities, county find buying valley homes isn’t easy
- Del Sol rallies without top rusher to win Southeast title
Blogs
The Kats Report
Buchanan was one of the city's truly flamboyant characters
Sports: Upon Further Review
Fight snapshot: Reviewing "24/7 Pacquiao/Cotto," episode 3
The Kats Report
Life in the Limelight: Wayne Newton (2 Comments)
Politics: Ralston's Flash
An entire campaign in one mail piece for Harry Reid (4 Comments)
Miech Again
On the road to Long Beach, UNLV hoops style (13 Comments)
The Kats Report
Vocal strain prompts Wayne Brady to call off 'Making It Up' until 2010 (1 Comment)
The Greene Room
New Mexico soccer player goes MMA on BYU (16 Comments)
Calendar »
- 8 Sun
- 9 Mon
- 10 Tue
- 11 Wed
- 12 Thu
-
76 Trombones + 4 concert at Artemus Ham Hall
Artemus Ham Hall at UNLV | 2 p.m. to 4 p.m.
-
The Smothers Brothers at The Orleans Showroom
The Orleans Showroom
-
Abbacadabra at The Las Vegas Hilton
Las Vegas Hilton
-
Roy Clark at The South Point Showroom
South Point Showroom
-
Zowie Bowie's Vintage Vegas Show at Monte Carlo
Lance Burton Theater
The Sun
Locally owned and independent for more than 50 years.
Technorati








