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Project 65 (former Riviera site)

Project 65 is an entitled but unbuilt retail, entertainment and residential project on 10 acres of the former Riviera site, bought from the LVCVA for $125M in March 2023. Clark County zoning approval came in September 2024 and no later activity could be verified.

ProposedResortNorth StripReviewed Aug 31, 2026
Rolled construction drawings and a scale rule on a table
Illustrative photograph, not a photograph of this project. Building Las Vegas labels every illustration and rendering; site photographs in our archive are dated and credited.
Developer
Entity 65SLVB, backed by Brett Torino and Paul Kanavos of Flag Luxury Group
General contractor
Not disclosed
Reported cost
Land only: $125M paid to the LVCVA in March 2023; construction cost not disclosed
Site preparation
$6.5M approved by the LVCVA board on November 14, 2023
Scope
10 acres with about 700 linear feet of Las Vegas Boulevard frontage; about 300,000 sf of retail and entertainment plus a 350,000 sf residential tower on a 5-acre parcel
Contractual deadline
Develop the site by 2033
Status
Proposed
Type
Resort

Where it stands

The newest verifiable action is Clark County zoning approval in September 2024; no 2025 or 2026 activity could be verified, and the LVCVA still lists the project among TBD projects (Casino.org / Vital Vegas; LVCVA).

The developer is the entity 65SLVB, backed by Brett Torino and Paul Kanavos of Flag Luxury Group, and the approval covered about 300,000 sf of retail and entertainment plus a 350,000 sf residential tower on a 5-acre parcel of the 10-acre site (Flag Luxury Group; Casino.org / Vital Vegas). The land cost $125M in March 2023, and the LVCVA board separately approved $6.5M of site preparation on November 14, 2023 (Las Vegas Review-Journal). Nothing more recent is on the record in the sources we have.

Approvals and public record

Clark County granted zoning approval in September 2024 (Casino.org / Vital Vegas). The case numbers are not listed in the sources we have.

What is not known

There has been no public update since the September 2024 approval: no groundbreaking date, no construction cost and no design team is known (Casino.org / Vital Vegas). The $125M land price and the $6.5M of site preparation were paid by different parties and should not be combined. The case numbers for the zoning approval are not listed in the sources we have.

Why it matters

This is 10 acres of former public land on the Boulevard with a hard contractual obligation to develop by 2033, which is a deadline no ordinary Strip parcel carries. For the North Strip, the gap between an approved plan and two years of silence is the fact that matters most.

Timeline

  1. Land purchased

    The buyer paid the LVCVA $125M for 10 acres.

  2. Site preparation funded

    The LVCVA board approved $6.5M of site preparation.

  3. Reported interest in half the site

    Fontainebleau was reported to have sought half the site.

  4. Zoning approval

    Clark County approved zoning for the project.

  5. Contractual deadline

    The purchase agreement obliges the buyer to develop the site by 2033.

Sources

  1. Flag Luxury Group - project pagehttps://flagluxury.com/our-properties/project-two-llrgk-cng5x-hllwz-62cfc-m2dth-lxngz-pgbng-njm5d-3lsky-zbs3f
  2. Las Vegas Review-Journal - board approves $6.5M site prephttps://www.reviewjournal.com/business/tourism/board-approves-spending-6-5m-to-prepare-former-riviera-site-for-development-2939185/
  3. Casino.org / Vital Vegas - project approved for the former Riviera sitehttps://www.casino.org/vitalvegas/project-approved-for-former-riviera-site-and-its-weird/
  4. LVCVA - Tourism Construction Bulletin, May 15, 2026https://res.cloudinary.com/simpleview/image/upload/v1779405036/clients/lasvegas/ConstructionBulletin051526_86c37e79-6dc1-4879-a2dd-e05ad92d28ca.pdf

Every figure on this page is attributed to a document or a published report. Where sources disagree we print both numbers rather than choosing one. Where the record is silent we say so.

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