Dynasty Resort Hotel approved near Key Largo property

The project, called The Dynasty Resort Hotel, will be located on Flamingo Road east of the Tuscany and west of the Key Largo and Paradise Road. The 5.7-acre site is owned by Las Vegas Lucky Investment, LLC.

The project will provide nearly 2,000 construction jobs and about 1,400 permanent jobs, Greg Borgel, the company’s land use expert, said at the meeting. It could open as early as 2015.

The application required expansion of the Gaming Enterprise District, as gaming would be a first for the location, which now contains the Fortune Hotel & Suites. County records show the company obtained the land on April 16 through a transfer with an affiliated company, Newstart Real Estate Investment of Fullerton, Calif.

The scope of the project could change. The company’s original plan called for a 375-foot height with 794 rooms. However, Federal Aviation Administration restrictions limit the height to 261 feet.

Plans call for 100,462 square feet of gaming space.

The company intends to file an appeal with the FAA so the hotel can be taller. But even if the appeal is rejected, the hotel-casino still will happen, Borgel said.

“One way or another, our intention is to get up to our full room count,” he said, adding that there are other options, including building another tower.

The resort’s features include shopping and retail areas, convention and meeting space, restaurants and showrooms.

Commissioner Mary Beth Scow said the resort will benefit the economy, noting it’s the first all-new project on or near the Strip in her tenure as commissioner. She told company they made a “compelling argument” for expanding the gaming district.

If the FAA appeal is successful, the project would go back to commissioners for further consideration.

Contact reporter Ben Botkin at bbotkin@reviewjournal.com or 702-455-4519.