To move forward on the condo tower, Mr. Eichner would need to line up financing and close on the purchase of the site.

WSJ: For Developer, 3 Could Be Charm

Similar to many developers moving ahead with new condo projects recently, Mr. Eichner is targeting the upper end of the market, real-estate executives said.

WSJ: For Developer, 3 Could Be Charm

Mr. Eichner made a comeback with a number of successful projects and embarked on his largest-ever project in the recent boom: the giant Cosmopolitan Resort Casino hotel and casino on the Las Vegas Strip.

WSJ: For Developer, 3 Could Be Charm