LAS VEGAS--(BUSINESS WIRE)--CIM Group announced today that it has reached a construction milestone at the Downtown Grand Hotel & Casino with the topping out of a new eight-story tower, marking a significant expansion of the centrally located property in downtown Las Vegas. The 250,000-square-foot tower will add 495 modern hotel guestrooms to the hotel’s existing 629 premier guestrooms located in two towers. Upon completion of the new tower anticipated in late summer, Downtown Grand will offer guests a total of 1,124 rooms in a variety of room configurations.
Downtown Grand spans two full city blocks between Casino Center Boulevard and North 4th Street, and East Ogden and East Stewart Avenues. The new contemporary-designed tower is being constructed above a reconfigured porte-cochere on the east side of the property, and will have direct access to the hotel’s popular third level pool deck, and to the hotel’s casino and ground floor dining and entertainment options. The tower will feature a new entrance to the hotel casino for an enhanced street-level pedestrian experience.
Drawing on its extensive development and operating expertise, CIM Group redeveloped and repositioned Downtown Grand Hotel & Casino, offering a boutique hotel experience when the hotel opened in 2013. CIM established Downtown Grand as a popular destination for locals and visitors with its variety of dining establishments, entertainment programming, and a lively casino and gaming venue. The additional 495 rooms in the hotel expansion allows the Downtown Grand to meet its increased customer demand as downtown Las Vegas continues to evolve as a hub for business, as well as entertainment.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender, and developer. Since 1994, CIM has led more than $60 billion of projects in metropolitan communities across the Americas on behalf of its own account and for its partners and co-investors. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and property management experience in real assets located in and serving densely populated communities, net-lease assets and other associated credit strategies. Using its disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.