Crown Las Vegas $5 million hotel casino resort has been canceled.
Crown gaming company from Australia said a joint venture for the site of the former Wet n Wild 27 acre site in Las Vegas real estate. The current credit market and struggling hotel neighbors on the Strip have concluded the project not financially viable.
Aria Las Vegas resort named as Project CityCenter’s Las Vegas jewel of the $9.2 billion development on the Strip. MGM Mirage this week unveiled the name of the 4,004 room, 61 story high rise with two curved glass hotel towers.
Architectural company Pelli Clarke Pelli designed Aria’s 150,000 square foot casino area and the two hotel towers.
MGM Mirage Project CityCenter Las Vegas adds an extra $1 billion to the cost of the mixed use development according to a filing. Previous cost of construction budget estimations was near $8.1 to $8.4 billion.
Nationwide skyrocketing construction costs has weighed very heavily on Las Vegas real estate market. This mega resort is owned 50 percent by Dubai World in a buyout they completed last year.
Grand City Hotel planned for Downtown Las Vegas wants city approval. This plan for a 61 story hotel in Downtown would be located at the corner of Grand Central Parkway and Charleston Boulevard.
The commercial real estate is located near the Union Park master plan to the north. Space included would be almost as much as the Las Vegas Convention Center with 2 million square feet.