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.
The secret to their success was the $4 billion in financing they received in 2007, before the credit market crisis. The company is a collaboration former Mandalay Resort Group executives and Turnberry Associates.
The Fontainebleau will feature 3,815 rooms, as many as 1,000 condo-hotel units, 28 restaurants and lounges, a 60,000-square-foot spa, and at least four outdoor pools plus a topiary garden and a bar with an open kitchen. There will also be Champagne and caviar service poolside.
Turnberry Associates have ridden out tough real estate cycles before. Their list of high rise condos in Las Vegas include Turnberry Place, Turnberry Towers and Signature at the MGM Grand.
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