Clark County Approves 752-Room Resort on Failed SkyVue Site

Clark County commissioners approved plans for a new resort on the site of Las Vegas' failed Ferris wheel project. The vote came Wednesday during a zoning meeting. Developer Eli Applebaum, through his firm Kulik River Capital, will build a 752-room hotel-casino. The site sits along Las Vegas Boulevard, directly across from Mandalay Bay. Applebaum bought the nearly 12-acre parcel this spring for $70 million. The tract also includes two unfinished concrete columns from the abandoned SkyVue observation-wheel project. Those towers have stood empty for more than a decade. Commissioners voted unanimously to grant the waivers and use permits needed to move forward.

Heart-Shaped Tower Design Includes LED Glass Facade

The approved plans call for a striking design centered on a heart shape. Its central section will be wrapped in a large glass curtain wall. A full-height LED display screen will cover that wall. The resort will rise 29 stories and include over 750 guest rooms. Applebaum originally sought approval for an 874-room tower. He later scaled the height back by 60 feet to meet FAA requirements. Plans also include a covered pedestrian plaza similar to downtown's Fremont Street Experience. The project will feature a gaming floor, restaurants, a pool, and retail space. More than 42,000 square feet of convention space rounds out the proposal.

SkyVue's 'Pillars of Sadness' Set for New Life

The property carries a long history of stalled ambition on the Strip. Two concrete columns were built there in 2012 to support a planned observation wheel. That wheel was meant to anchor a larger London-themed casino-hotel project. Construction on the wheel itself never began, and the broader effort collapsed. Rival attraction High Roller opened in 2014, beating SkyVue to market entirely. The abandoned columns have since stood as a visible reminder of that failure.

Locals have reportedly nicknamed the towers "the pillars of sadness" over the years.

Under the new plans, those same columns will be reinforced and reused. They will support a 265-foot-high restaurant suspended above the resort property.

Site's Ownership History, From Perry to Applebaum

Applebaum purchased the site earlier this year from the family of Wayne Perry. Perry is a Seattle businessman who acquired the land through a bankruptcy auction in 2020. The nearly 12-acre parcel had changed hands several times over the years. It included vacant land, a few small structures, and the leftover SkyVue columns. Applebaum's purchase this spring marked a turning point for the long-blighted site. Clark County records show his firm quickly moved to file development plans. Wednesday's unanimous commission vote clears the way for construction to proceed.

The project joins several other developments reshaping the Las Vegas Strip, including Hard Rock Las Vegas, a transformation of the former Mirage property that continues to progress nearby. It still requires additional steps before any groundbreaking can occur.