citycenter

Earlier this year CityCenter was facing a revolt from its contract buyers demanding price reductions on their units. A small group of buyers went so far as to obtain an attorney to try to get out of their contracts because the contract price was no longer fair. Now, since when is anything in life fair? [...]

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Recently a lot of local and national press have been focused on a small group of buyers at CityCenter. Some early condo buyers are demanding significant price reductions….despite signing a contract. Now, I’m not taking sides. I had agreed to buy a property, sight unseen, years before it would be completed and then as it [...]

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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 [...]

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It seem that project CityCenter has been plagued by problems. Several construction deaths and costly mistakes and now the problem with Dubai World not honoring its financial commitments could spell the end for the project….at least as far as MGM Mirage is concerned.  However, according to Reuters, investor Carl Icahn and private equity fund Oaktree [...]

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With the downturn of the economy, MGM Mirage has been putting on a brave front regarding CityCenter. Months ago a “construction defect” caused them to scrap the Harmon condos…..sure it did. I’m sure there were some savings in construction costs that were purely incidental. Earlier they were in talks with Deutsche Bank about providing some [...]

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