Tuesday, November 24, 2015

SkyVue Land For Sale

UPDATE: This is old news as the site has been for sale since early May.

The site of the failed SkyVue observation wheel project on the south end of the Strip is for sale for $385 million, officially ending any hope that the wheel will be completed someday.

When plans were announced for an observation wheel back in 2011 - I questioned whether the developers would be able to raise the $100 million needed for the project.

When the High Roller wheel opened at The Linq there really wasn't a point in opening a second wheel in Las Vegas, despite SkyVue having started construction with two giant concrete pylons.

The 38.5 acres of land for sale is directly across from Mandalay Bay. It seems like MGM Resorts International (or perhaps their new REIT) would be interested in picking up this land since it's near their other properties.