{"id":252713,"date":"2024-08-09T03:39:36","date_gmt":"2024-08-09T03:39:36","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/09\/dream-resort-pauses-construction-we-said-optimistically\/"},"modified":"2025-06-25T17:12:41","modified_gmt":"2025-06-25T17:12:41","slug":"dream-resort-pauses-construction-we-said-optimistically","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/09\/dream-resort-pauses-construction-we-said-optimistically\/","title":{"rendered":"Dream Resort Pauses Construction, We Said Optimistically"},"content":{"rendered":"

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\n \"Scott <\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

Dream Resort has temporarily halted construction on the Las Vegas Strip.<\/p>\n

Yeah, it\u2019s possible we should\u2019ve put \u201ctemporarily\u201d in quotation marks, but we like to gamble, and gambling is inherently optimistic in nature.<\/p>\n

The \u201cpause\u201d in construction of the Dream hotel is related to financing, which the resort says will be finalized soon. Cue the awkward.<\/p>\n

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Blame it on the crane. Related: Milli Vanilli was robbed.<\/figcaption><\/figure>\n

The developer of the project, Shopoff Realty Investment, provided this statement<\/a>.<\/p>\n

\u201cWe have temporarily paused work on the Dream Las Vegas site while we work to finalize and close the construction financing. This is anticipated to occur in the near future, as we are in active discussions with our lenders to finalize terms. As soon as the financing is in place, the project\u2019s construction will be restarted, and we have every intention to complete this project as planned. Additional work, such as permitting and other non-construction activities will continue to proceed, and all parties and agreements remain in place. We continue to work in concert with McCarthy, Hyatt and Clark County Officials, and are thankful that we have their continued support,\u201d per Shopoff president and CEO Bill Shopoff.<\/p>\n

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Let\u2019s hope this Dream isn\u2019t all wet.<\/figcaption><\/figure>\n

Dream commenced construction shortly following its groundbreaking in July 2022.<\/p>\n

We shared a construction progress report<\/a> back in January 2023.<\/p>\n

There was a smallish red flag when Dream Hotel Group was purchased by Hyatt Hotel Corp. in Nov. 2022, but Hyatt confirmed Dream\u2019s construction wouldn\u2019t be mucked with.<\/p>\n

It seems, however, Dream jumped the gun with incurring construction costs without financing fully in place to pay for it.<\/p>\n

Bill Shopoff told the Las Vegas Review-Journal<\/a> his company owes $25-30 million for work already performed to build the resort.<\/p>\n

If financing is finalized, Dream Resort will sit on the Las Vegas Strip between the Pinball Hall of Fame and Harley-Davidson dealership, near the Las Vegas welcome sign.<\/p>\n

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Long story<\/a>, since resolved amicably.<\/figcaption><\/figure>\n

Shopoff says financing should be in place \u201cin the next couple of weeks,\u201d which is very specific and confident, so we\u2019ll take the over on that one.<\/p>\n

Unlike some projects announced for The Strip that will never actually get financing, looking at you All Net Resort & Shitshow, Dream has a solid track record and its association with Hyatt means there\u2019s some reputational heft likely to keep the hotel-casino on track once this embarrassing hiccup is resolved.<\/p>\n

For motivation, Dream need only look at the nearby pair of abandoned concrete pillars to steady their resolve. Another long story<\/a>.<\/p>\n

\"Skyvue\"
A monument to monumental failure.<\/figcaption><\/figure>\n

We\u2019re rooting for Dream Las Vegas because the renderings<\/a> and floor plans<\/a> are awesome, the team is strong on talent and we are a big fan of new, shiny and gambly.<\/p>\n<\/p><\/div>\n

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[ad_1] Dream Resort has temporarily halted construction on the Las Vegas Strip. Yeah, it\u2019s possible we should\u2019ve put \u201ctemporarily\u201d in quotation marks, but we like<\/p>\n","protected":false},"author":1,"featured_media":252714,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[174],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/252713"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=252713"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/252713\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/252714"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=252713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=252713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=252713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}