by admin on April 30, 2009
The drama surrounding project CityCenter has finally come to an end. For the past several months the future of CityCenter was up in the air due to financing issues. Their partner, Dubai World had gotten into a disagreement about the project and MGM Mirage was forced to cover the additional payments. Things came to a [...]
by admin on April 10, 2009
Sullivan Square started out as an unknown project several years ago. The developers started putting out television ads, very artsy targeting the upper middle class. One of its selling points was that the entire community was going to be green and thus eligible for special tax breaks as well as being great for the environment. [...]
by admin on February 23, 2009
This seems to be a recurring theme for hotel and condominium projects in Las Vegas (and elsewhere, I’m sure): Trouble getting financing. “Necessity is the mother of strange bedfellows” That certainly applies here, since MGM Mirage is in talks with Deutsche bank who happens to own the adjacent property next to CityCenter, the Cosmopolitan. In [...]
by admin on January 27, 2009
The Monterey condos community located in the Las Vegas Country Club was back in the news last week. A cleverly disguised article (ad) in the RJ announced “special pricing” over the weekend. The article went on to tout the various features of the community which are actually very nice. The community has five pools and [...]
by admin on January 20, 2009
In a town of long odds, completing a construction project isn’t a safe bet. Several projects around the valley have stalled or went bankrupt due to the inability to gain financing. However, it looks like the Fontainebleau Resorts will not be one of them. The resort is planned to open in October of this year. [...]
by admin on January 7, 2009
CityCenter, long thought to be the one bullet proof project in Las Vegas announced that one of the component towers, the Harmon Hotel & Spa will not have any condominiums as originally planned.
Citycenter CEO Robert Baldwin said stated that by removing the condos it removed “the need for substantial redesign…resulting from contractor construction errors.”
That is itself [...]
by admin on December 12, 2008
Mira Villa condos in Summerlin had an unsure future. The developer, Westmark Homes went into bankruptcy and the future of their current projects were in limbo. Last month a bankruptcy judge approved the completion of construction. real estate approved by bankruptcy judge to complete construction. The decision includes the completion of the 113 units, plus [...]
by admin on December 10, 2008
An article in the Las Vegas Review Journal stated that home and condo sales are up, way up as a matter of fact. Strangely you won’t see much else in the media about how robust the Las Vegas condo market has become this year. According to statistics provided by the Greater Association of Las Vegas [...]