LAS VEGAS--(BUSINESS WIRE)-- The Skyvue Las Vegas Super Wheel is about to get off the ground. Construction plans for the 500-foot observation wheel, larger than the world-famous London Eye, are being finalized. Site clearing has begun on 11 acres of prime strip property at Las Vegas Boulevard and Mandalay Bay Road. The land currently houses a 1950s-era motel which will be demolished, making way for the mixed-use complex that will feature the giant wheel, a roller coaster and 200,000 square feet of restaurant, retail and entertainment venues. Completion of the complex is projected for the first half of 2013.

Led by Las Vegas developer Howard Bulloch of Compass Investments, the project is estimated to be in excess of $100 million. The wheel will have 40 heated and air-conditioned passenger gondolas offering panoramic views of the Las Vegas Strip and valley. The gondolas will each hold 20-25 passengers in spacious floor-to-ceiling windowed comfort that will be available for private catered parties with food, entertainment and cocktail service.

“We are truly pleased that Skyvue Las Vegas will complement both the hospitality and entertainment industries,” said Bulloch. “This world-class attraction fills a niche in our economy, creating jobs and offering a new and unique entertainment for tourists.”

Skyvue Las Vegas will create a dramatic Strip landmark. The exterior of the adjoining complex will display over 30,000 square feet of LED lighting and video. On the interior walls and ceilings, 7,000 square feet of video will entertain guests waiting to board gondolas. The wheel itself will showcase more than a football field’s worth of video display on either side - equivalent to 74 billboards - providing prime positioning for major corporate branding.

The complex affords an array of sponsorship venues for national and international companies. Over 140,000 square feet of street-level retail will be seamlessly adjoined to Skyvue Las Vegas, creating a global branding opportunity for retailers.

For retail leasing opportunities contact NAI Global--Dave Johnson at [email protected] or Paul Chapman at [email protected].

For sponsorships and general information, contact Compass Investments--David Gaffin at [email protected].

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Source: Compass Investments