Developer tells details of Pahrump resort

Jerry Wang, president and chief executive officer of Forum Group Ltd., talked about the details of the planned $2.2 billion resort at a groundbreaking earlier this month. Pahrump is about 60 miles west of Las Vegas.

First-phase construction of an 80-unit condominium complex and 195-space recreational vehicle park is scheduled to begin soon after the new year, Wang said. It will take about eight months to build, with move-in expected by October.

The $150 million Shao-Lin Village is part of the resort's second phase, along with an 18-hole golf course. Also on the drawing board are the 300-room Cozumel hotel-casino and the 200-room Sedona Inn hotel-casino.

Besides retail and shopping, Oasis at Shangri-La will have cultural, educational and entertainment facilities, including a martial arts academy, temple and dormitory.

"This is a project that will impact all of the United States," Wang said. "You go into shopping center and see martial arts studio. Parents want children to go to martial arts."

When buildout of the 285-acre resort is complete in about seven years, it will have 261 single-family homes and 480 multifamily units. It would create up to 18,000 jobs, Wang said.

He's been approved for $244 million in institutional financing for phase one, with additional lending from the U.S. Department of Housing and Urban Development and local investors.

The Forum Group is a joint venture of private investors mostly from Taiwan and Japan, according to Wang.

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