Aspen Highlands Holdings LLC acquired land on the corner of Las Vegas Boulevard and Sahara Avenue where it plans to build a Times Square-like retail and gaming center.

Plans call for a two-story, 40-foot high facility with 37,100 square feet of floor space and a 9,000-square-foot casino. It will has have a restaurant and a tavern, but not a hotel.

Aspen Highlands plans to seek approvals for the project during a July hearing in front of the Las Vegas Planning Commission.

If approved, the developer plans to start immediately and finish the project by fall 2010.