Project CityCenter Harmon Las Vegas condos have been canceled along with a one year construction delay. Structural integrity construction issues have forced the Harmon residential component of 200 units to be canceled from the $9.2 billion resort and delay the opening of the luxury Harmon Hotel.
Update 1/5/09: Project CityCenter Jobs are now available.
Las Vegas commercial real estate cites bad economy to delay construction progress. News strikes again in the city of delayed or halted developments. The economic slowdown and rising construction costs delayed the $850 million Tivoli Village at Queensridge.
Another commercial real estate development is taking the wait and see approach to construction progress including Summerlin Centre, Manhattan West and Echelon Las Vegas. They say continued construction will be at a slower pace.
Manhattan West Las Vegas condos stopped construction on development in west Las Vegas real estate. The mid rise development by Gemstone Development cites mortgage lenders terminating financing.
The local real estate developer is looking to create an investment group for buying discounted senior notes for completion of the development.
This past year in Las Vegas the pricing for residential real estate has deeply been discounted. Many developers have lowered their prices to levels of at or below their cost. At this pace many builders are going bankrupt or out of business. (more…)
Condos in Summerlin real estate approved by bankruptcy judge to complete construction. The news this week about the Mira Villa luxury condos comes to buyers as a relief after they have been in limbo for nine months since the luxury project stopped.
The new general contractor is Isaac Construction and is under the deadline of January 6, 2008 before the building permits expire. They will need to be onsite for many inspections.