Scrapping the Shops at Summerlin name, developer Howard Hughes Corp. says its massive retail and office project near Red Rock Resort will open Oct. 9 as Downtown Summerlin.
The company, referring to the once-mothballed 106-acre complex as the “first phase of Downtown Summerlin,” also announced more expected tenants today. They include a Regal Cinema five-screen theater, Wolfgang Puck Bar & Grill, and a steakhouse from Honey Salt owner Elizabeth Blau.
As envisioned by the developer, Downtown Summerlin will cover 400 acres and will eventually include more than 125 shops and restaurants, office buildings, housing and a hotel, executives said today.
Last year, Howard Hughes resumed construction of the project, located on Sahara Avenue at the 215 Beltway.
The previous owner, General Growth Properties, halted work in fall 2008 during the national economic meltdown, leaving a steel skeleton off the Beltway.
General Growth filed for bankruptcy protection in spring 2009 and when it emerged the next year, it spun off Howard Hughes as a separate company with control over the Summerlin project, the broader Summerlin master-planned community and several other projects nationwide.
Howard Hughes said it spent $181 million in development costs as of March 31 and it expects to fund the first phase with a $312 million construction loan that it hopes to obtain by the end of June.