Las Vegas' CityCenter Set To Open In December Despite Setbacks
The 67-acre mixed-use urban development known as CityCenter is on track for a series of grand openings beginning on December 1, 2009 with the Vdara Hotel and Spa. The project has been developed by MGM Mirage and Dubai World and is situated on the famous Las Vegas Strip in Paradise, Nevada. Ehrenkrantz Eckstut and Kuhn Architects created the conceptual master plan for this project comprised of 2,400 residential units, 4,800 hotel rooms, 500,000 square feet of retail and entertainment space, a power plant, fire station and parking. The ambitious project was designed to become one of the world's largest environmentally sustainable urban communities to date and was recently named Best Commercial Project of 2009 at USGBC’s GreenBuild ’09 Conference. Unfortunately, CityCenter has faced numerous obstacles during the course of construction.
According to WorldArchitectureNews.com:
Earlier this year, CityCenter battled back from the brink of bankruptcy, ultimately rescued by a global effort- eight banks from around the world that infused it with a $1.8 billion dose of confidence. But its troubles are far from over. Last week, MGM Mirage posted a $750 million third quarter loss, evidence it is still reeling from the massive investment. And, if that news wasn't distressing enough, the project will make its debut in the face of record high vacancy rates and drastically discounted hotel rooms. For a project selling luxury when consumers are bargain hunting, it will indeed be challenging if not also tough going for CityCenter to stay afloat. But its owners are betting the project's uniqueness will be the very thing that saves it.
The financial issues were not the only problems faced, however. A structural defect uncovered during construction of the Harmon building resulted in drastic changes to the design of the building, impacting the overall project design, according to the New York Times:
But because of what it is billing as structural defects, MGM Mirage announced recently it has decided to shorten a hotel-condominium project it is building on the Strip to 28 stories instead of the planned 49.
Architectural experts say they cannot recall such a drastic midconstruction downscaling, especially of a building designed by a marquee architect, in this case Norman Foster...
All the buildings were to open by the end of this year, Mr. Absher said, but the oval, aqua-colored Harmon, which was to have a 400-room hotel and 207 condominiums, now will not be ready until late 2010. And there will be no condominiums, he said. Would-be buyers who had put 20 percent down on 88 units will be offered refunds or the chance to buy in other buildings.
Mr. Absher said the company and county officials were investigating who is to blame for the problems but he predicted that that would be up to “a whole lot of attorneys” to sort out.


Wednesday, November 18, 2009 at 1:05PM
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