(Topic ID: 262331)

Pinball Hall of Fame has new neighbors...


By timarnold

42 days ago



Topic Stats

  • 22 posts
  • 21 Pinsiders participating
  • Latest reply 41 days ago by jhanley
  • Topic is favorited by 6 Pinsiders

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    #1 42 days ago

    https://www.reviewjournal.com/business/tourism/california-developer-plans-luxury-hotel-on-south-strip-1959977/
    After many attempts to sell the property directly to the South of the PHOF's new home, it was made official today with the County Assessor recording the sale.
    We have mixed feelings about this. We had seen detailed plans about 6 months ago and I had several phone conversations with the Real Estate people for this project. Mostly we talked about technical issues involving the property line, set backs, and airport issues. Both properties share a common border with the new PRIVATE JET port to the East.

    It must be said at this point that the PHOF gang understands that property rights are absolute. Even if we hated this new Happy Shack with a passion, there is very little to be done because THE PROPERTY OWNER HAS USE OF HIS LAND FOR ANY PURPOSE HE DESIRES within the law and zoning.

    So first, let's look at the Negatives.....
    DAMN THIS THANG IS A WHOPPER! 21 stories, 540 rooms, a Casino, an all you can eat Paste Buffet and a huge parking garage. It will almost completely block the view of our single story building from the Famous Las Vegas Sign. Our approved plans include a 50 foot high sign that WILL be visible from the South. Where we are now we have done really well without ANY signage except for the mini-billboard sign in the vacant lot next door, which the County made us improve when we bought the lot AFTER we opened in our current building.
    There is a remote chance that all or part of this structure could fall off and crash into us. But again, NOTHING CAN BE DONE. All parties will be insured.
    Also it will bring a lot more traffic to a section of the Strip that is fast and free-flowing right now. Locals will NOT go on the main busy part of the Strip because it takes a half hour to drive 10 blocks.

    Positives...
    A LOT more traffic. Not cars, but people. With a desire to have fun.
    Property values will be positivly effected. We paid 2.6 per acre. They paid 4 per for the same dirt.
    There will also be a lot less homeless once the underground drainage tunnel is removed and the Dewey Drive Extension is improved and lighted.
    It will also force the County to address several nagging Public Works issues that have been overhanging our project now that it is known what is happening next door.

    Before I finish, I will give a quick update on progress on OUR new building. We are still stuck in permit Hell and a few weeks behind. They put in bollards to block cars from running up on the sidewalk and killing people, and we had them NOT install them where our driveway is going, but then they could or could not find where they stored them. It has been straightened out along with many other maddening details that have delayed us.
    The Contractor has been chosen. The building plans are complete down to the color of the roof on Howard Johnson's outhouse,and the bulldozers will start grading the lot the day after we get the permits. Final price of the 27,000 square foot building will be between 4.2 and 4.5 million. We are almost this amount in the bank, and are looking at a very good debt-to-equity ratio of 13 percent on opening day, sometime late this year or early next year.

    I would love to hear any thoughts from this newsgroup here on this forum, so please chime in with your wisdom.

    #2 42 days ago

    I think in the long run this will be good for business. I know it is where I am going to stay when its built.

    #3 42 days ago

    Tim,

    In the end I think this will be a good thing for you all the way around. I wouldn't worry about people not seeing you sign - I don't even think you need a sign - pinball people will find you. Having something nice next door instead of a vacant lot can only be a good thing.

    Keep up the great work!
    Skip

    #4 42 days ago

    Doesn't necessarily sound like a bad thing....captive audience right next door that will know you're there. I say come up with a signature overpriced drink that can only be found at the Pinball Hall of Fame - people will flock to the place!

    In all seriousness....you seem to have one of the best word of mouth things going....people will talk about the new location and with a hotel next door you'll have visibility to a lot of new people. It also sounds like you'll get a lot of capital improvements to the area out if the deal....so it sounds like there's a lot of potential positives.

    At least now I know where I'll plan to stay when I finally get to Vegas one of these days!

    #5 42 days ago
    Quoted from timarnold:

    an all you can eat Paste Buffet

    Awesome, haven't been to one of these since 2nd grade

    #6 42 days ago
    Quoted from WolfManCat:

    I think in the long run this will be good for business. I know it is where I am going to stay when its built.

    I was thinking the exact same thing.

    #7 42 days ago
    Quoted from Coindork:

    I was thinking the exact same thing.

    Me too, a short 100 foot walk to the PHOF front door!

    As far as blocking the Vegas sign goes, that's a bummer but I am guessing the upshot is this building is going to reduce your cooling bill a little

    #8 42 days ago
    Quoted from Coindork:

    I was thinking the exact same thing.

    Me as well. No brainer. I suspect this will be good for business long term. How will their construction schedule impact you?

    Good luck Tim!

    #9 42 days ago

    This is great news. Nothing but upside for you. If you were building a single family home I’d be devastated. Only problem is you will have to up your game and service level or the bourgeoisie clientele is suceptible to sing negative praises. But this is a good thing.

    You should let pinsiders in good standing do minor repair, vacuum and wax as needed to keep things communal and tip top.

    #10 42 days ago

    Well,Tim,I'm up here in Northern Cali waiting for everything to come together!!Look forward to greatness when its all done!!

    #11 42 days ago

    Can only be a good thing, also the Raiders stadium being close by will also boost numbers in the area.

    #12 42 days ago
    Quoted from PinPatch:Can only be a good thing, also the Raiders stadium being close by will also boost numbers in the area.

    It will be something like a 5-10 minute walk.

    #13 42 days ago

    Mixed thoughts about your new neighbors??

    That section of the strip has been barren for 15+ years. There will soon be a big boost in people traffic right where you will be. Could be worse... you could be stuck somewhere on Tropicana in an old auto parts store that 90 - 99% of Vegas tourists never see.

    While the new building will block the view of yours from the sign they'll see it as they head back north into town. Going to see that sign is probably the most popular thing people do after they get settled in to their rooms. Given the choice of tourists seeing you while heading into town or on their way out of town, I'd choose the first.

    I'd be more concerned about having a plan to maintain, and preserve all of the machines with all the increased usage they'll soon be seeing (and of course building and getting it open).

    I see it all as a HUGE gain, and can not wait to see it open!

    -Paul

    #14 41 days ago

    Great place for people to stay when they are playing in The HOF Pinball Championships.

    #15 41 days ago

    As a Vegas resident familiar with the area, I believe this won't matter one bit. People will come either way. I'm beyond excited for the new venue.

    #16 41 days ago

    timarnold The positives far out way the negatives IMHO. I don't know the technical definition, but as an outsider, I typically think of The Strip as being the area along Las Vegas Boulevard with all the mega casinos. To me the southern end of The Strip was Mandalay Bay. With the addition of this new resort that definition might now include your new property. Can't wait to plan our next trip to Las Vegas after you open.

    #17 41 days ago

    The building plans are complete down to the color of the roof on Howard Johnson's outhouse,

    LOL

    #18 41 days ago
    Quoted from Pablito350:

    Could be worse... you could be stuck somewhere on Tropicana in an old auto parts store that 90 - 99% of Vegas tourists never see.

    The last use of the building prior to being PHoF was two businesses as the building was partitioned down the middle. One was a carpet retailer and the other, ironically, was a Tile store.

    #19 41 days ago

    Tim, i just want to thank you for letting me back in 3 weeks ago after I took the weed out of my pocket and rubbed breath mints all over my body at the convenient store down the road. You got a great place pal and thanks for keeping it classy.

    #20 41 days ago

    Must be nice that you can fly your new pins in on your private jet and park RIGHT NEXT to your museum.

    #21 41 days ago

    Tim - just glad to hear an update straight from the horse's mouth!

    The building costs are wild... glad to hear it's still driving hard.. even if others are throwing wrenches in the plans.

    #22 41 days ago

    How many pins will that place have?

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