The Las Vegas government has announced approval to build an amusement park along the strip. Not content with the usual garish, over-the-top theme prevalent throughout the rest of Sin City, the developer has decided to construct a 500-foot ferris wheel, making it the third-largest wheel of its kind in the world, and the largest one in the western hemisphere.
In addition to the Ferris Wheel, it would include six additional rides, a 20,000+ square foot conference center and nearly 150,000 square feet of new retail space. Apparently, it’s not enough to be the gambling mecca of the Northern Hemisphere – they have to try to make Dubai look sensible and fiscally conservative at the same time.
It’s not like a vacant condo can ride a ferris wheel.Las Vegas badly needs the convention space – they have hardly any room for conventions at all. Well, other than The Las Vegas Convention Center and Hilton convention rooms (which can hold the world’s largest consumer technology tradeshow), the Sands Expo and Convention Center (which can hold the largest pornography industry trade show in the United States), the Cashman Convention Center, the Mandalay Bay Convention Center, the Cox Pavilion, and the Thomas & Mack Center. But other than that, they have almost no room at all. (Source: cvent.com)
As BiggerPockets put it,
In recent years it was more like, “Oh no, here we go again.” Predictions would forecast more of the same. More foreclosures, more lost jobs, lower home prices, and more of the same old muck and mire. Even the eternal optimists had turned downright pessimistic … However, a funny thing happened on the way to Armageddon – a wee bit of optimism returned. Sure some places saw signs of hope, but Las Vegas? Surely someone is spiking the Kool-Aid.
Given the current real-estate quagmire and lack of prospects for a recovery any time soon, this makes little sense. It’s not like a vacant condo can ride a ferris wheel.
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You do realize that 20,000 sq ft is a drop in the bucket, and not a large space at all? So why single it out as the reason this development is pointless? It has bathrooms and restaurants too, and they have a lot of those in Vegas.
You do realize that 20,000 sq ft is a drop in the bucket, and not a large space at all? So why single it out as the reason this development is pointless? It has bathrooms and restaurants too, and they have a lot of those in Vegas.
With the real estate market being what it is, it doesn’t make a whole lot of sense to build a 15 sq ft hotdog stand, nevermind yet another convention center.
Wet ‘n’ Wild was an adequate amusement park (and well used in the summer heat) for the Strip. They took it down for condos. Many youngsters were introduced to gambling and their addiction while vacationing at Wet n Windy. I miss it.
Imagine how windy it will be on a summer afternoon on that ferris wheel. Can you say disaster movie?
The Vegas NASCAR event this Weekend was filled by free ticket “winners.” Local bars in Las Vegas were filled with 60+ year olds looking for the early bird special and four of a kind.
The NASCAR event was really trying to skew younger. Rock Bands, jugglers, x games type attractions, they seemed out of place with 55 year olds looking on.
The baby boomers just don’t have the income to travel or move to Vegas and a Ferris Wheel and NASCAR dates won’t help change their minds.
Las Vegas’ future is more poker addicts and online gaming.
I visited Vegas once back in ’99. I don’t plan to return ever again.
I visited Vegas once back in ’99. I don’t plan to return ever again.
I always hate trade shows in Vegas. Of course, as someone who doesn’t drink, doesn’t smoke, and isn’t in the mood for anything sexual – the city doesn’t offer a whole lot but gambling.
I tried $1 in a one-arm bandit once (penny slots), but didn’t really see the point. I finally just hit the “play all button” just to get it over with, and ended up winning a dollar on the last play, which I ended up just cashing out.
Most people lose with slot machines, and a few end up positive. How many people end up breaking even?
Ola Senor; are you a Vegas resident?
Why build a 500 foot ferris wheel when the world’s biggest is only 541 feet tall (Singapore Flyer)? This is America golly gee gosh darnit*. How are we ever going to beat the Chinese & Arabs if all we have is a 500 foot ferris wheel? We need 800 feet, at least, not that I’d ever go back to Las Vegas, though.
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* Comment has been modified from its original phrasing.
Why build a 500 foot ferris wheel when the world’s biggest is only 541 feet tall (Singapore Flyer)?
Just put it on top of the Luxor.