Sandhurst Development, a company made up of former Citibank officials,[2] had spent approximately three years researching the Las Vegas market before purchasing 3.2 acres (1.3 ha) from Union Pacific for $2.8 million in July 2004.

[3][4][1] In early October 2004, Sandhurst Development announced plans for a $180 million, 34-story tower with 409 condominium units that would be constructed on the property.

[4] The tower was to be located in downtown Las Vegas,[2] at the northeast corner of Charleston Boulevard and Grand Central Parkway,[5] east of Interstate 15.

Sandhurst Development planned to begin groundbreaking on the project in March 2005,[2] with completion expected by September 2006.

[4] At the time of the announcement, Union Pacific was in negotiations to sell its remaining land to Sandhurst Development, which planned to ultimately construct two additional condominium towers and commercial space on the property.

[4][6] In December 2004, the project was approved by the Las Vegas City Council for 35 stories with 413 units.

Sandhurst Development relocated its headquarters from New Jersey to Henderson, Nevada, to oversee the mixed-use project.

[1] In early 2005, negotiations with Union Pacific were underway to purchase 12 additional acres that were located southwest of the 3.2-acre property.

[13] Preconstruction work on the site was underway in December 2005, as the tower was going through the final building approval process.

Mirolla hoped to break ground in early January 2006, and said: "We made mistakes by projecting (construction) dates.

We're working with the group of investors who have title to the land, who still want to build Sandhurst, and if we can resurrect it, we'll reach out to the buyers."

That month, Sandhurst Development was given two weeks to demonstrate to the Las Vegas City Council that progress had been made on the project.

[3] The project's lower floors would also feature 35,000 sq ft (3,300 m2) of commercial space for shops and other restaurants.