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.
Sullivan Square Las Vegas developer sues Ireland investor for breach of contract to finance the mixed use real estate project for up to $800 million.
Filed this week in the Clark Country District Court, the lawsuit alleges Harcourt Nevada failed to perform funding and breach of fiduciary duty.
The attorney for Sullivan Square real estate in Las Vegas, Nevada said Patrick Doherty, principal of Harcourt, used Glen, Smith & Glen development to raise the condo project from ground breaking to vertical and then take control to finish.
Fontainebleau Las Vegas $2.9 billion resort is unfazed by credit market. The Strip real estate development keeps its distance from the construction overruns and credit market crunch similar to Crown Las Vegas, Tropicana and Cosmopolitan Las Vegas condos.
The development has an expected 2009 opening and completely financed.
Condos for sale in Fontainebleau are expected to commence this September. The marketing and promotion of these 1,018 luxury condominiums better be strong or the credit crunch market could take them down the path of its neighbors on the Las Vegas Strip.