CalPERS JV begins renovations at Las Vegas mall

Institutional Mall Investors, a joint venture between Miller Capital Advisory and California Public Employees' Retirement System (CalPERS), has started renovations at Miracle Mile Shops at Planet Hollywood Resort & Casino, a 500,000-square-foot shopping center on the Las Vegas Strip, according to media outlets.

It is scheduled to be completed by 2023. It will remain open during construction, which is set to begin next winter and will be completed in spring of 2023.

The project will include an extensive interior and exterior transformation complete with elevated finishes, upgraded technology and digital design elements.  New entertainment features will include exterior and interior immersive light, sound, and video experiences. Miracle Mile Shops will, in several interior locations, feature all-new projection-mapping spectacles.

“Miracle Mile Shops has been a highly successful shopping and entertainment destination in Las Vegas for over 20 years attracti