‘Ocean's Eleven' Star To Put Stamp on $3B Las Ramblas

LAS VEGAS-Actor George Clooney and nightclub owner Rande Gerber are joining locally based Centra Properties and Related Las Vegas in the development a $3-billion hotel, condominium and casino complex be located just off the Strip in the Harmon Avenue corridor. The development will cover 25 acres and include 11 towers.

Las Ramblas will include a luxury hotel, luxury residences (both straight condominiums as well as a condo hotel), bungalows, a spa and health club, nightclubs, restaurants, retail and a proposed upscale casino. Much of the amenities will be accessible via an open air pedestrian promenade.

If completed as planned, Las Ramblas will encompass more than 4,400 hotel, condo and condo-hotel units in 11 high-rise buildings comprising nearly 8 million sf. The breakdown is for 300 hotel units, 2,764 condo units, 1,326 condo-hotel units and 19 bungalows. Mid-2006 is the planned construction start date for the first phase.

Being designed by Arquitectonica, phase one will include four towers. This includes a tower with 300-room hotel below 370 additional condo-hotel units, a second adjacent tower of approximately 556 condo-hotel units, and two gateway residential condominium buildings at the entrance of the project, containing 285 and 344 units respectively. The Phase one completion date is early 2008.

In addition to being investors in the overall project as well as residence owners, Clooney and Gerber will contribute to the design and direction of the hotel, restaurants, entertainment and the look and feel of the casino. Gerber, through his company After Midnight, will also develop restaurants, clubs and lounges for the project. Additionally, Clooney has committed to donate 25% of the profits from his investment in Las Ramblas to the Make Poverty History campaign.

Centra is a property development company. Related Las Vegas is the Las Vegas-based development arm of The Related Companies from New York and the Related Group of Florida from Miami. Related Las Vegas is involved in five projects in the Las Vegas market, including the Icon Las Vegas residential towers, the World Market Center (furniture mart), the Union Park mixed-use project in the downtown and another project with Centra Properties near The Strip.