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The $4BN Mega Casino that NEVER should've happened | Fontainebleau Las Vegas

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Today I dive into one of the most intriguing American infrastructure stories over the pas few decades!

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Recap:
The Fontainebleau Las Vegas has become a captivating story in the world news, not just for its luxurious design and experiences but also for its tumultuous journey marked by failures and resiliency. Initiated in 2005, the ambitious project aimed to redefine luxury on the Las Vegas Strip, but it faced numerous setbacks, including safety concerns, legal disputes, and financial troubles. By mid2009, Fontainebleau declared Chapter 11 bankruptcy, leading to a series of legal battles and the eventual takeover by Carl Icahn in 2010.

The dormant project saw renewed hopes in 2017 when investment firms Witkoff Group and New Valley LLC acquired it for $600 million, renaming it The Drew Las Vegas. However, delays, financial hurdles, and the COVID19 pandemic hindered its resurrection. In a surprising turn in 2021, the original developer, Jeffrey Soffer, reclaimed the project through Fontainebleau Development, partnering with Koch Real Estate Investments. The Fontainebleau finally opened on December 13, 2023, marking the end of a tumultuous journey.

The construction of the Fontainebleau was a marvel in itself, involving over 8 million cubic feet of highperformance concrete, 55,000 tons of steel, and 600,000 square feet of LowE glass. The concrete's strategic use, including fly ash from coalfired power plants, showcased both environmental and structural benefits. The steel framework underwent rigorous testing to withstand the unpredictable desert winds, and the glass contributed to the building's energy efficiency.

Building the Fontainebleau required intricate planning and coordination due to its large scale. Building Information Modeling (BIM) technology played a crucial role, providing a 3D virtual model of the project and optimizing workflows to prevent errors. A workforce of 2,200 construction workers, spanning various disciplines, contributed to the project's realization.

The hotel boasts several impressive features, including the Grand Dome, a 67foottall masterpiece of light and sound, the Lapis Spa with ecoconscious practices, and a 6acre pool complex with advanced hydraulics and filtration systems. The nightly rates range from $500 to $1500, targeting a highend clientele within the luxurious Las Vegas market.

The Fontainebleau's estimated yearly power consumption of 175 million kilowatthours raises concerns about its impact on the local electrical infrastructure. While the hotel plans to source some of its power from renewable energy, the specific percentage and timeline remain undisclosed.

With the creation of an estimated 4,000 permanent jobs and an expected $3.2 billion annual economic contribution, the Fontainebleau injects vitality into the city's workforce and businesses. However, its shift towards highend tourism and potential impact on the local economy, including the possibility of increased prices, remains a topic of discussion.

In conclusion, the Fontainebleau Las Vegas represents a remarkable tale of resilience and success amid adversity. Its construction and engineering marvels, combined with luxurious features, contribute to its status as one of the most impressive highend buildings in the United States. The hotel's impact on the local economy and tourism landscape, particularly its focus on highend clientele, raises questions about the future trajectory of Las Vegas as a tourist destination.

posted by Whostatriorzf