At a ceremony cracked through the asphalt to mark the beginning of an approximately, three year construction process.  The Grand Hyatt Las Vegas at The Cosmopolitan Resort & Casino is projected to open in mid-2008.  Hyatt will operate the property's 3,000 hotel rooms, suites and condo-hotel units.

"Few addresses on the Strip have a better location," said Thomas Pritzker, chairman and CEO, Global Hyatt Corporation.  "Hyatt is thrilled that it will be offering customers a unique ‘Vegas' experience in Grand Hyatt style that includes impeccable service, and exceptional facilities for leisure and business travelers." 

"The Cosmopolitan represents a new era in Las Vegas development," said Ian Bruce Eichner, CEO of 3700 Associates, LLC, the developer of The Cosmopolitan.  "We're building something different on The Strip, the likes of which Las Vegas has never seen before and may never see again.  The sheer ‘verticality' of this development as it towers 600 feet above The Strip is more akin to the urban terrain of Manhattan, or other cosmopolitan cities around the world," said Eichner, who spent the past 30 years developing more than six million square feet of luxury high-rise residential, office, hospitality, and retail space in such prominent locations as New York City and Miami Beach.

At the height of construction, the project will generate approximately 3,000 construction jobs and stimulate millions in tax revenues.  Upon opening in mid-2008, Grand Hyatt Las Vegas and The Cosmopolitan will create approximately 2,400 jobs at its center Strip location.

Vertically Integrated
Grand Hyatt Las Vegas at The Cosmopolitan Resort & Casino, one of the many announced hotel projects along the emerging Harmon Avenue corridor, will be the first to open in mid-2008.  The property will redefine Vegas' skyline with a vertical design that contrasts sharply with the horizontally developed, replicated cities and themed hotels that bracket Las Vegas Boulevard

To support this view, today Pritzker and Eichner unveiled an intricately constructed scale-model of the entire Cosmopolitan project.  The pair highlighted the two high-rise hotel and condo-hotel towers which will stand approximately 600 ft. tall and include approximately 3,000 luxury hotel rooms and suites and condo-hotel residences; over 150,000 sq. ft. of integrated, business convention and conference space; a 75,000 sq. ft. casino; 300,000 sq. ft. of exclusive and brand-name retail boutiques and fine-dining restaurants; an 1,800 seat theater; a 500 seat cabaret; a 50,000 sq. ft. exclusive spa, salon and fitness center; multiple nightclub venues; and a 3,800-car underground parking structure.  Chief among these attractions is The Cosmo Beach Club, a five-acre pool deck overlooking the Strip, featuring al fresco dining, a riveting nightclub, and aquatic designs never seen before in Las Vegas. 

"In the days and weeks to come, we will be making many exciting announcements about the mix of retail stores and restaurants at The Cosmopolitan," said David Friedman, President of 3700 Associates, LLC.  "The tenants will be powerful names that have not been to Las Vegas before and will come from well-known shopping and dining destinations such as New York, Los Angeles, Miami, San Francisco, and Chicago in the US, as well as London, Paris, Barcelona, and Milan abroad," Friedman added.

Dream Team of Designers
"To execute our vision for The Cosmopolitan Resort & Casino and the Grand Hyatt Las Vegas, we've assembled a dream team of industry leading designers and architects whose palette includes some of the foremost buildings, cityscapes, and lifestyle centers in the world," said Eichner.  "A collaboration of this caliber brings together the best creative minds and talents to craft an unforgettable residential and tourist destination that's certain to enhance the Las Vegas market," said Eichner.

Joining Eichner and Pritzker on stage was Bernardo Fort-Brescia, one of the world's elite architects, whose firm Arquitectonica has created world-class designs that have altered the skyline of cities around the globe.  Fort-Brescia's personal input has lead to a breath-taking design of The Cosmopolitan

"Cosmopolitan means belonging to the universe, being worldly and urbane," said Fort-Brescia.  "This casino-resort is just that.  It is unlike any other place in the world.  It defines the new Las Vegas of this century:  urban, sophisticated, and cosmopolitan.  The architecture of the Grand Hyatt Las Vegas and The Cosmopolitan Resort & Casino realizes this definition.  The building rises with a distinct compositional clarity, in sharp contrast to the cluttered landscape of extraneous themes that dictate the architecture of neighboring casinos.  The building is urban as it is the first casino that engages the Strip, creating a boulevard that emerges with an energy and sophistication tantamount to the boulevards of Paris or New York.  Here, the architecture is the setting for a cosmopolitan experience," added Fort-Brescia.

Side by side with Fort-Brescia on the project will be Hyatt's development, architecture and design teams.  Currently with 121 hotels in operation across North America and the Caribbean, Hyatt's talented development team has experience in managing multi-dimensional projects.  Consistent with all of the 29 Grand Hyatt properties around the world, condo-owners and guests of Grand Hyatt Las Vegas at The Cosmopolitan Resort & Casino will find that the mixed-use property will offer unparalleled accommodations in an urban, sophisticated setting.

The Cosmopolitan's renowned dream team of designers and contractors includes:

• Arquitectonica, well known for iconic architecture found throughout the world, is the project's design architect.
• Martha Schwartz Partners, famous landscape designer who's best known for raising landscape design solutions to a level of fine art.  She recently designed the breathtaking Hotel Delano Pool Deck and will apply similar creativity to The Cosmo Beach Club.
• Dougall Design, creator of the most sought-after themed and luxury venues, will be responsible for the casino and retail spaces.
• Paul Duesing Partners, recognized for work in exclusive five-star resorts and celebrity homes, will be responsible for the condo-hotel and hotel units and public spaces.
• The Friedmutter Group, one of the premier hospitality design firms in the nation, will serve as the executive architect.
• Perini Building Company, the lead contractor on the project, will oversee all facets of construction.