City Center Las Vegas

 

MGM-Mirage is the developer and with 831 acres owned on or near the las vegas Strip, they have plenty of collateral and financial backing to make this project along with others under way a success.

 

Project Description

Project City Center is a $7 billion mixed used project planned on 76 acres between the Monte Carlo and the Belligo Earlier this year (2006) this was the site of the Boardwalk Hotel and Casino which closed it's doors and was imploded to make way for the construction of project City Center.

In order to plan CityCenter, the nation's most expensive private construction project and its largest collaboration of name-brand architects, MGM Mirage split the project into three components, with the final piece - the retail and condominium area - coming together more recently.

Described as a city within a city, this project will be yet another reinvention of Las Vegas. Blvd.

Project Update:

•           The Mandarin Oriental Hotel will have approximately 227 condominium units above the 400-room hotel tower, with the 4,100-square-foot penthouses coming with the highest price in Project CityCenter at $8 million.

•           The Harmon, will be operated by MGM Mirage. It will have 228 condominiums above its 400 hotel rooms.

•           The Veer Towers, twin 37-story condominium high-rises, will be CityCenter's only pure residential-only development with units ranging from 500 square feet to 2,600 square feet.

•           Vdara, a 1,543-unit condominium-hotel with units ranging from 500 square feet to 1,850 square feet. Vdara will be built between Bellagio and the CityCenter hotel-casino.

 

Developer Financing

The MGM-Mirage conglomerate is privately funding this project, which is considered to be the largest private ly funded construction project in in the nation, employing over 7000 construction workers.