It is located between Monte Carlo and the Bellagio and will consist of the Aria Resort and casino (or course it's Vegas on the strip!), condo living, convention space, shopping and a theatre. It is very modern and has been unbelivable to watch it's construction.
While we were there this time, we walked the strip early on our first morning. We took some pictures and video and you can find them here:
And on a side note, the construction workers were really friendly - not whistling friendly - just friendly!