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Old Flamingo Reno (Now Golden Phoenix) To Close April 2006

By Chuckmonster on Sunday, 2nd October 2005 12:56am
  » filed under Las Vegas  comments: 0

   

The buyer of the Golden Phoenix Hotel Casino & Resort will shutter the hotel's gaming hall this spring under a plan to convert the building into condominiums, the developer said Wednesday.

Fernando Leal, the managing partner of Chicago-based L-3 Development, said his company has no plans to operate the casino and will shut it down no later than April 28, the date by which he expects to close his purchase of the property from Vista Hospitality Co.

In the conversion L-3 Development plans to turn the 604-room hotel into 388 condominiums averaging $350,000, according to the company's initial application with the city, which also names the project the Montage. It will also have four commercial spaces and one common area.

"We expect this to be well over a $100 million project," Leal said.


[ Another one bites the dust - Ed ]



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