Torino and Kanavos haven’t said what they plan to build on the site, but they have a solid development track record. The new owners will have until 2033 to develop the land. On Tuesday, the board approved the $6.5 million contract with Las Vegas Paving for the excavation-and-fill project as well as the amended purchase agreement with 65SLVB. That’s when Torino and Kanavos stepped up to buy the land, and in March the transaction was approved by the board. As Fischer prepared to close the deal, it was determined that the site needed excavation and fill to prepare for future development. The LVCVA kept a $7 million nonrefundable deposit and put the parcel back up for sale. The land originally was to be sold to Chilean developer Claudio Fischer for $120 million, but the sale failed to close in 2022. The board also approved the amended sale plan with 65SLVB, a partnership of Brett Torino of Las Vegas and New York’s Paul Kanavos, for the land just south of Fontainebleau.
Bizuayehu Tesfaye/Las Vegas Review-Journal Follow Las Vegas Convention and Visitors Authority board of directors on Tuesday unanimously approved spending $6.5 million to prepare a 10-acre site where the Riviera once stood for a $125 million sale.
16, 2016, to make way for the Las Vegas Convention Center. People gather on Sands Avenue to watch the final tower of the Riviera hotel-casino implosion on Tuesday, Aug.
