| If the developers from the CIM Group have their | | | | new urban destination. And they have the deep |
| way, the Lady Luck casino in downtown Las | | | | pockets to make it a reality. |
| Vegas will soon make way for new retail and | | | | The Lady Luck was purchased in 2005 by |
| entertainment center, complete with 3 new hotel | | | | Andrew Donner of Las Vegas and has been |
| towers, thereby leveraging the Freemont Street | | | | closed since early 2006 with not much happening |
| Experience by Third street and further enhancing | | | | at all - a source of annoyance to many city |
| the downtown Las Vegas lifestyle. | | | | officials (including the mayor). But since CIM |
| Word on the street is CIM is actively making | | | | bought into the project, the mood has changed |
| purchase offers to the real estate and business | | | | drastically. In fact, CIM comes to the table with a |
| owners along the pedestrian plaza with hopes of | | | | $4 billion urban real estate portfolio backed by the |
| strengthening the link between the Lady Luck and | | | | California Public Employees Retirement System. |
| the Freemont Street Experience, which draws | | | | News such as this continues to be cited as |
| from 17 to 22 million visitors a year. | | | | evidence that there is great economic potential to |
| And why? Because CIM has already used this | | | | be tapped into Downtown Las Vegas. |
| formula to revive downtrodden neighborhoods in | | | | Have you bought a high rise or a mid rise condo |
| Los Angeles with a great degree of success. | | | | there yet? More and more signs point to that |
| Their goal is to turn downtown Las Vegas into a | | | | being a smart decision. |