The south edge of the Strip is set to get a new hotel.

Developers of Dream Las Vegas are scheduled to hold a ceremonial groundbreaking July 8 for the 531-room casino-resort on Las Vegas Boulevard just south of Russell Road. The project, estimated to cost around $550 million, is slated to feature restaurants, nightlife, a third-level pool deck and meeting and event space.

It’s expected to open in late 2024.

Dream, which is being developed by Southern California firms Shopoff Realty Investments and Contour, would be much smaller than the megaresorts that line Las Vegas Boulevard. It would offer a boutique-style experience in an ultra-competitive market dominated by hotels that often have thousands of rooms, huge casino floors and a lengthy list of restaurants, clubs and other amenities.