Life Time, a luxury health-club chain, is expected to commence construction on a new location in Las Vegas soon.
Bahram Akradi, founder of Life Time, mentioned in an interview over the weekend that building on the planned facility in the southwest valley, situated across from Ikea, should begin within the next 60 days.
Heavy equipment is already on-site, signaling the imminent start of the project.
The plans for the facility include a three-story, 125,500-square-foot building designed to encompass a variety of amenities.
These features will include weightlifting areas, fitness classes, tennis courts, as well as indoor and outdoor pools.
Additionally, services such as nutrition coaching, children’s activities, massage therapy, and injectable services, including Botox and dermal fillers, are also part of the offerings, according to Clark County records.
Life Time, headquartered in Minnesota, currently operates 180 clubs across the U.S. and Canada, including locations in Summerlin and Henderson.
In Henderson, Life Time notably constructed a high-end apartment complex adjacent to its club, named Life Time Living.
Akradi emphasized in his recent conversation with the Las Vegas Review-Journal that the southwest valley is quickly expanding, adding that both existing Life Time clubs in Southern Nevada have wait lists.
The project’s site, located at the southeast corner of Durango Drive and Sunset Road, spans 15 acres, with Akradi indicating that some of this space is being reserved for potential future development.
“It’s the perfect third location for us in this market,” stated Akradi, who serves as chairman and CEO of Life Time Group Holdings.
The Las Vegas project is expected to revitalize an area that has been a prominent vacant lot.
This site was previously designated for a multi-tower development named Sullivan Square, a collaborative effort between Las Vegas developers and investors from Ireland in the mid-2000s.
Excavation work on the site occurred, but like many other high-rise condominium proposals from that time, Sullivan Square was never completed, leaving behind a gaping hole in the ground.
After various lawsuits and abandonment by the developers, the site was left unutilized, with excavated areas reportedly about 30 feet deep, according to a former listing broker.
Life Time acquired the property in the fall of 2019 for $14 million, following approval from Clark County commissioners for project plans in early 2020, just prior to the onset of the COVID-19 pandemic.
The health-club industry, like many others, faced significant challenges during the pandemic, experiencing government-imposed business closures, capacity limits, and mask mandates.
Over time, the crater across from Ikea was eventually filled with dirt, leading to the issuance of a commercial building permit valued at $29 million by the Clark County Building Department in December.
Akradi attributed the delay in commencing construction to Life Time’s strategy of managing its finances during the challenging economic climate brought on by COVID.
He noted that the company is now in its strongest position ever and is intensifying its growth plans.
Life Time aims to open between 10 to 12 new locations each year, as indicated in a recent securities filing.
The company reported a net income of approximately $156 million last year, which was more than a doubling of their income compared to 2023.
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