Thursday, March 21, 2013

The Western is sold for $14 million

The Western Hotel and Casino on East Fremont Street had closed on January 16th of 2012.  Tony Hsieh’s Downtown Project bought the shuttered Western Hotel for $14 million, giving his group another chunk of downtown real estate for a possible future project.

The resort, built in 1970 on Fremont Street between Eighth and Ninth streets, was closed last January by owner Tamares Real Estate. Tamares sold it this month to a limited liability company controlled by developer Andrew Donner.

Donner works with Hsieh, the CEO of online retailer Zappos, to acquire properties for Hsieh's $350 million downtown revitalization campaign. The Downtown Project acquired the Western through Donner, people with knowledge of the deal said.