Ivana Las Vegas
The interiors would include stone and marble finishes. Sales of the tower’s units were suspended, with each of the buyers eligible for a refund. The closed Holy Cow Casino served as a temporary sales office for Ivana Las Vegas. The sales office was described as having the appearance of a nightclub, as it contained smoke machines, loud music, and flashing lights. By December 14, 2005, the property had been listed for sale at a cost of $49 million. Additional amenities that were announced included a business center, a coffee shop, a pool, and a Zen garden. Construction of Ivana Las Vegas, to be handled by Turner Construction, was scheduled to begin in summer 2006 and conclude in December 2008, at a cost of $500 million.
Sahara Condominiums hoped to sell for over $35 million. Sales offices for The Summit were set up in Asia and Australia to market the project. The project was expected to generate $1 billion in profit. Di Mauro hoped to finish the permit process within three months and begin selling units by late December 2004. The Summit was expected to take approximately three years to complete. Di Mauro and Altomare planned to demolish both structures for the new high-rise. Holy Cow Casino and Brewery and a small, multi-level parking garage, both located at the northeast corner of South Las Vegas Boulevard and Sahara Avenue on the Las Vegas Strip. By November 2004, the Summit’s height had been reduced to 923 feet.
Di Mauro said the project would be financed by “internal and external funding,” such as revenue from other businesses that he owned. The Summit’s lower-floor units would be fully furnished, and would be marketed towards people looking to buy a second home, giving owners the option to also rent out their unit when not in use. The Summit was designed by JMA Architecture Studios, and was to feature 960 condo units, with nine different floor plans to be offered. Entry-level units were expected to sell for $600,000 to $700,000. The top 16 floors would include 151 units ranging from 1,276 sq ft (118.5 m2) to 11,000 sq ft (1,000 m2).
Shubinski, Jennifer (December 16, 2005). “LV condos toppling before they start”. Smith, Hubble (January 13, 2006). “No money, no labor, no way”. Segall, Eli (2014-08-13). “Long-abandoned corner of Las Vegas Boulevard and Sahara getting Walgreens”. Nakashima, Ryan (October 19, 2007). “Arizona man buys piece of Las Vegas Strip for $47 million”. Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may apply. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization. Smith, Hubble (December 15, 2005). “Ivana Las Vegas luxury condo tower listed for sale”. By using this site, you agree to the Terms of Use and Privacy Policy.
Altomare said that month that the “Summit” name was only a working title, and that he would release a brand name for the project eventually. Altomare said at that time that the project’s construction would be financed by syndicated bank loans underwritten by presales of the condo units, which were expected to begin selling in late April 2005, with starting prices at $600,000. The project was approved by the city of Las Vegas in November 2004. The federal government approved the 923-foot project – now with 800 condo units – in January 2005. By the end of the month, Altomare was in discussions with Turner Construction to build the high-rise, which was expected to take two and a half years to finish.
