Las Vegas, NV (KTNV) -- What was planned as the Echelon Hotel is now a concrete and metal eyesore on the strip, but plans announced Monday will transform the property into a multi-billion dollar project called Resorts World.
The project will feature hotels, casinos and an indoor water park all catering to foreign guests.
"This project represents all that makes Las Vegas and our great state a leader in the gaming industry," Governor Brian Sandoval said.
The announcement with Sandoval and the project's leader Genting Group can't come soon enough for Nevada's economy.
"On behalf of the working people of Clark County thank you for the thousands and thousands of jobs you'll create for families," county commissioner Steve Sisolak said.
The project promises upwards of 20,000 culinary and construction jobs, two industries hit hard this recession.
"This is awesome this could be a real game changer for Las Vegas," Darren Enn, Building & Construction Trades Council, said. After looking at these eyesores for years the union members are ready to work, Enn added.
The Echelon structure has been a skeleton for the last five years, but the new project will help revitalize the north end of Las Vegas Blvd. The property started as the historic stardust, which later imploded to build Echelon.
Workers hope the building of Resort Works will help jump start other slowed projects.
"Vegas is back baby," county commissioner, Chris Giunchigliani, said. "It's so exciting because it's the north end of the strip and so many projects were on the south end."
The resort will feature hotels, casinos, restaurants and an indoor water park. The company hopes to break ground at the end of 2013.