CIM Launches Downtown3rd Entertainment District After Makeover
- Nov 22, 2013
Notwithstanding the struggles experienced by the Las Vegas residential market in recent years, the area is getting repeated reminders that its entertainment, hospitality and gaming sectors are bouncing back nicely. A recent case in point is the makeover of Downtown Grand Las Vegas. Renovated and re-branded Downtown3rd by its developer, CIM Group, the mixed-use entertainment district is positioned as a boutique-style experience in its hotel, casino and entertainment components.
Located on a 6.3-acre site at 3rd Street and East Ogden Avenue, Downtown3rd offers 634 guest rooms in the 25-story Grand Tower and the 18-story Casino Tower. Downtown3rd has 25,000 square feet of casino space leased to Fifth Street Gaming.
The property offers 35,000 square feet of retail as well as a variety of dining options. PICNIC, a rooftop retreat with an infinity pool, private cabanas, a fire pit, and full-service restaurant and bar, is expected to be a major draw.
The debut of Downtown3rd is an example of a resurgence sparked in large measure by the Fremont Street Experience. Further contributing to the growing appeal of the district are attractions like the nearby Mob Museum and the commitment shown by Zappos in establishing its corporate headquarters. CIM’s acquisition and redevelopment of the Downtown Grand signals the developer’s strategy to get a footing in a market on the rise.