LVXP plans mixed-use project on Vegas Strip

Real estate development company LVXP has plans to deliver a new experiential mixed-use development on the Las Vegas Strip that will be anchored by a technologically advanced entertainment and sports arena. The project will be located on the 27-acre site at 2601 South Las Vegas Blvd. and include several ultra-luxury hotels.

The site is situated across from the newly expanded Las Vegas Convention Center, adjacent to Fontainebleau Las Vegas and near Resorts World Las Vegas. In addition to the hotels, the multi-purpose entertainment and lifestyle venue is expected to feature a retail plaza, convention space, a destination casino and residences. The site could also serve as the home for a new NBA franchise, representing a significant development for Clark County and the community.

“We are honored to be stewards of this significant milestone in the city’s legacy,” said James R. Frasure Jr., CEO, LVXP. “Our commitment is to create a destination that captures the essence of Las Vegas and provides lasting benefits for the community. For me, this endeavor is more than a project—it’s a promise to uphold the spirit of innovation and enthusiasm that defines our local culture.”

Tick Segerblom, chairman, Clark County Commission, added, “This is a well-conceived project that has the potential to transform a valuable undeveloped land parcel into a highly productive destination that contributes meaningful long-term value to the community and visitors alike.”

LVXP’s leadership team includes experts in real estate, finance, marketing, technology, sports and entertainment, according to the company. In addition to Frasure, whose background involves executing large-scale development projects, LVXP will benefit from the experience of Nick Tomasino, chief construction officer, who most recently served as SVP, construction at Madison Square Garden Entertainment, where he managed the construction of The Sphere. Las Vegas-based entertainment and architecture firm Steelman Partners will design the project’s architectural plans.

“My experience leading the construction of some of the most iconic developments on the Strip has provided me with the insight and expertise necessary to bring this project to fruition,” said Tomasino. “I am thrilled for the opportunity to yet again build a destination that will transform Las Vegas Boulevard and leave a long-lasting positive impact for future generations.”

Paul Steelman, CEO, Steelman Partners, added, “As we begin shaping the next chapter of Las Vegas, I’m thrilled to lead the design for LVXP, a pioneering venture merging cutting-edge Artificial Intelligence with personalized guest experiences. Collaborating with the LVXP team energizes my creative spirit, as together, we strive to craft a landmark that not only redefines the city’s skyline but also pays homage to its architectural legacy. With every detail, we aim to transcend boundaries and immerse guests in a tailored reality, setting a new standard for hospitality and entertainment in Las Vegas.”