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Real estate developer Rick Caruso, a possible Los Angeles mayoral candidate and President of the Los Angeles Police Commission, has just inked a deal to build a $550-million "retail and entertainment district" on the Las Vegas Strip, across the Boulevard from Caesars Palace, reports KTLA. The open air shopping center will feature more than 200,000 square feet of shopping, will be topped off with a 550 foot-high ferris wheel, and is scheduled for completion in 2013. No word yet on what stores will populate the shopping center, but if Caruso's track record is anything to go by—this is the man who built Los Angeles' legendary The Grove—we're sure it will be a crowd-pleaser.
· Rick Caruso to develop $550-million open-air attraction on Las Vegas Strip [KTLA]