Real estate developer bids for Riviera

The North Strip is making more waves these days. Although the Riviera is an old and somewhat tired property, it has been a takeover target in recent years. My feeling is that some of those interested in it are eyeing the land and the location much more than the existing physical structures.

The latest bid comes from the developer, which is called 3700 Associates, of the Cosmopolitan condominium hotel located in the heart of the Strip. The company is well-known for luxury condo and time share projects in New York City and Miami. That's their forte. The north end of the Strip has already experienced a rash of condominium development, like the Turnberry Place, and the Riviera site would make an ideal location for another mega resort with a luxury residential component.

The Riviera could be the next Vegas gaming icon to be imploded.