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W Cancels Vegas Project

May 16, 2007 By: Dan Butcher Travel Agent

The mixed-use W Las Vegas project slated for almost 50 acres along Harmon Avenue was canceled Friday after minority partner Starwood Hotels and Resorts Worldwide pulled out of the project, the Las Vegas Review-Journal reports. In an e-mailed statement, the Edge Group told the paper its partnership with Starwood is scheduled to end and the project "could not overcome numerous significant challenges." A Starwood pullout had been rumored since late last year, but Edge officials in the past few months maintained that the project was proceeding and cited a $10 million investment by Starwood last year as proof, the paper notes. Edge spokeswoman Maggie Feldman told the paper company officials could not comment further now but added that the group is selling assets including the land. The e-mail statement from Edge also said all condominium reservation deposits have been returned to the 750 buyers.

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