by Michael J. Shapiro | May 02, 2012

The former Sahara Hotel & Casino, on the North Las Vegas Strip, is on track to become the SLS Las Vegas. Development company SBE and real-estate/investment firm Stockbridge Capital Group announced Monday that they secured $300 million in new funding for the project. The investor confidence is good news for the north end of the Strip, where several high-profile projects have stalled in recent years. "We see the northern end of the Strip as the future of Las Vegas," said Sam Nazarian, founder, chairman and CEO of SBE. The new resort, a collaboration among Nazarian, designer Philippe Starck and award-winning chef José Andrés, will offer more than 1,600 guest rooms as well as a number of SBE's restaurant and nightlife brands. The property is scheduled to debut in 2014.