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Webster's New World Dictionary defines the word cosmopolitan as meaning someone or something "at home in every country or place."

While the term is rarely used to describe Las Vegas, partners at 3700 Associates believe their $1.5 billion development will affect the region, both literally and figuratively, soon.

The Las Vegas-based developer on Monday announced new details about a 4-million-square-foot mixed-use project, in particular its name, Cosmopolitan Resort & Casino. The revelation also included the identities of several new partners whose resumes and reputations shed new light on what lies ahead on the 8.5 acres of land south of Bellagio near the Jacqui Club.

David Friedman, president of 3700 Associates, said the moniker was chosen because it summarized both the project and the direction of development in southern Nevada.

"Cosmopolitan is very urban. It was built for the streets, it was tall, and there are many different things that happen on different levels," Friedman said. "You can easily find this project in New York, Miami, or Hong Kong. It's not something that everyone has seen in Las Vegas."

The project has more than 2,400 rooms, including standard hotel accommodation and condo/time sharing units, over 150,000 square feet of convention space, 70,000 square feet of casinos, 1,800-seat theaters, and over 300,000 square feet of retail, restaurant and entertainment space.

Ian Bruce Iichner, chief executive of 3700 Associates, said Friedman that he would introduce his trademark high-rise development method to the strip. He said Iichner was one of the nation's top developers of luxury time-share/condominium properties, including the Manhattan Club in New York and Continuum Development in Miami's South Beach neighborhood.

With his expertise in the local gaming industry gained during his nearly nine-year tenure with Venetian parent Las Vegas Sands, Friedman called the partnership a "very powerful combination."

Friedman said, "We've tried to design projects in a way that effectively subsidizes land costs by other factors, such as gaming, retail, and time-share sales, so that people can live right on the strip."

Other partners include Aquitectonica, a certified architecture firm that projects the Le Meridien Hotel in Hong Kong; Dougal Design, a themed retail and interior design firm that worked on Forum Shops in Caesars and The Hotel in Mandalay Bay; Friedmutter Group, a national architecture firm specializing in hotel casinos with MGM Grand and The Venetian as its portfolios; and Paul Duesing Partners, a bespoke interior designer behind many celebrity residences and exclusive hotels around the world.