Owners of Tivoli Village have announced plans to open the Las Vegas property’s expansion, but their confirmed tenant lineup appears sparse.
The expansion — part of Tivoli’s original plans last decade but shelved during the recession — would add roughly 300,000 square feet to the Mediterranean-themed retail and office project at Rampart Boulevard and Alta Drive.
The new portion is expected to open in October, according to a news release issued today.
Upscale home-furnishings retailer Restoration Hardware plans to open a store in the expansion site, and Canter’s Deli, a Jewish-style eatery from Los Angeles, plans to open a restaurant there, as well.
The news release did not name any other tenants for the expansion, which is being built off Rampart, north of Tivoli’s existing buildings.
But it unveiled a crop of real estate brokers who, in working to sign tenants, would use “their expertise to help fully realize the completed vision of Tivoli,” according to Noam Ziv, chief executive of Tivoli owner IDB Group USA.
A representative for Tivoli management did not immediately respond to a request for comment about its tenant lineup.
The expansion has been a long time coming. Built during the boom years last decade, Tivoli was supposed to open in 2009 with about 500,000 square feet of retail and 200,000 square feet of offices, but the real estate bust and recession threw a wrench in those plans.
Developers considered mothballing the project, as other investors did with partially built projects throughout the valley, but chose to build in phases instead.
The first portion opened in spring 2011. Management said in fall 2012 that the second and final phase — the current expansion — was expected to be completed in late 2013. But construction didn’t begin until fall 2013, and at that time, the developers expected to finish in spring 2015.
Besides Restoration Hardware and Canter’s Deli, other tenants for the new portion have reportedly been in the works at one point or another.
A real estate broker told VEGAS INC last summer that hotel group Kimpton — known for sleek designs, pet-friendly properties and, as the broker put it, “good people watching” — had been in talks to open a hotel there between fall 2016 and spring 2017.
At the time, a Kimpton spokesperson said, “We don’t have any news to share. ...I look forward to talking with you down the road.”
Also, New York brokerage firm the Carlton Group said in 2014 that discount clothing chain H&M had signed a lease for a 25,000-square-foot store at Tivoli’s expansion site.
Carlton disclosed the news as part of the announcement that IDB, an Israeli conglomerate, had hired Carlton to sell a 50 percent stake in its Las Vegas real estate holdings, including Tivoli.
H&M, however, announced in February that it planned to open a 20,000-square-foot store this year at Downtown Summerlin, an open-air mall about 4 miles from Tivoli on Sahara Avenue at the 215 Beltway.