The sale gave Boyd Gaming a total of , and the company was in the early stages of a master plan for the site. Boyd Gaming used the Borgata as an example of how to redevelop the Stardust site. Boyd Gaming announced the $4 billion Echelon Place project on January 3, 2006, to replace the Stardust. It would be a mixed-use project similar to Project CityCenter, also on the Las Vegas Strip. Echelon Place would include a casino, a shopping promenade, and several hotels with a total of 5,300 rooms. Two of the hotels, the Delano and the Mondrian, would be developed by Morgans Hotel Group at a total cost of $700 million, while Boyd Gaming would own the $2.9 billion, 3,300-room Echelon Resort. It was also announced that Boyd Gaming executive Bob Boughner would leave his position at the Borgata to lead development of Echelon Place, under the position of president and chief executive officer of Echelon Resorts. Boughner had previously overseen construction and development of the Borgata, and had also overseen construction of the Stardust's 32-story tower, which was opened in 1991. Boughner and his executives spent much of 2005 developing a list of prospective partners for the project. Project planners stated that the 63-acre site was large enough to contain construction without affecting nearby businesses and tourists, and also said that because of the site's easy access and proximity to Industrial Road and Interstate 15, the resort would not cause traffic delays after opening. However, it was later estimated that the project, upon completion, would bring an additional 12,190 vehicles to the busy Las Vegas Strip area. Construction was initially scheduled to begin in early 2007, following the demolition of the Stardust, with an opening scheduled for early 2010. Boyd Gaming's stock dropped eight percent in the days following Echelon Place's announcement, due to skepticism about the project. In October 2006, Boyd Gaming agreed to sell its Barbary Coast hotel-casino to Harrah's Entertainment in exchange for of property located adjacent to the Stardust that was previously occupied by the Westward Ho Hotel and Casino. The deal gave Boyd Gaming a total of 87 contiguous acres, although the company said the additional land did not change its current plans for Echelon Place, while stating that the new property could allow for future expansion of the Echelon project. The sale was completed several months later, and two acres of