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Archive for the ‘Las Vegas Hotels’ Category

MGM Mirage to build a city on Las Vegas Strip

Reno Nevada arial

Plans for the hotel include room 4000 and the casino, three boutique hotels with 400 rooms, 1,650 condominiums and 550,000 square feet of retail space, restaurants and entertainment venues.

The “Project City Center,” as MGM officials call on the site of 66 acres between Bellagio and Monte Carlo, the Las Vegas instead. The hotel is now part of the waterfront area.

The project will be developed in phases. The first phase, from 2010 is expected to create over 7,000 construction jobs and 12,000 permanent jobs. This is an opportunity most jobs in the history of Las Vegas.

In comparison, the “Project Downtown” is the size of Rockefeller Center in New York, SoHo and Times Square combined.

The history of Las Vegas began a hundred years ago, with an auction of the land. With MGM Mirage laying down the cards for future project, the next question is to ask: How long will it take until a competitor, a similar system?

“We hope they do, but I doubt it,” said Jim Murren, president and chief financial officer of MGM Mirage. The idea is one thing. It is much more important to have access to such investments, and a suitable place. Today, one morning in the Las Vegas Strip is estimated at 20 million. The estimated project cost is $ 4 billion.

“Project City Center” is the theme seems to be more complex construction in Las Vegas has, and a new era in the history of Sin City. It is now clear that Las Vegas is a city in the United States. “This lifestyle change,” said MGM Mirage Chairman and CEO Terry Lanni.

In the next 18 months, MGM Mirage is in the world for a builder and partners for residential and hotel search.