City Center - City Center Las Vegas - Henderson and Las Vegas Real Estate

City Center Logo

Planners at MGM Mirage have been working for years on development plans of the 66-acre site, designated as Project CityCenter. The site extends from the former location of the Boardwalk casino all the way to Bellagio casino, across Harmon Avenue.

Original Conceptual Design of City Center Las Vegas

The project is being developed into a master-planned urban complex and will offer pre-construction investment opportunities as well as luxury high rise living lifestyles. Project CityCenter, when completed, will be the most significant privately funded project in the United States.

Phase one of the Project CityCenter will include the development of 18 million square feet of mixed use space. It consists of a 4,004 room hotel/casino, three 400 room boutique hotels, approximately 550,000 square feet of retail shops, dining and entertainment venues, and 1,650 units of luxury condominium, hotel/condominium and private residence clubs.

More than 8,000 construction jobs will be created on the first phase of the project. Completion of the first phase is anticipated to create more than 12,000 new permanent positions. This will be the largest single new employment opportunity created in the history of Las Vegas.

Map of the City Center Site Location

The design of Project CityCenter is anticipated to take 18 months. The first phase of the development will take approximately 42 months. The completion of the first phase is scheduled for December 2009.

Most of the residential units will have great views of the Las Vegas skyline. The project is designed to give residents a place to live, shop, dine, and gamble without ever leaving the property. The centerpiece of the project will be Aria hotel-casino. The smaller hotels will anchor each end of the property out front. One of the hotels will be operated by Mandarin Oriental. The Harmon Hotel will be managed by the Light Group, famous for its hot nightclubs.

By adhering to tougher green-construction standards, CityCenter project is scheduled to receive LEED silver certification from the U.S. Green Building Council. The design includes features such as rooftop gardens and water-reclamation facilities. There is also an agreement with Siemens to build a $100 million energy plant.

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Vdara Site Tour

Here is another video shot on the CityCenter site tour. This is from the entrance of the Vdara Condo Hotel. This will open the first part of December, it's hard to get the scale of this in the video! It's going to be HUGE!

The units that have been purchased will start to close in March. With the price reductions and the views I'm sure the values will be there for the appraisals. There are great incentives to go into contract right now! Contact us to find out more details!

http://www.timmerrell.com/00A051

Posted on November 06, 2009 19:09:43 by Tim Merrell

Posted in Las Vegas, Las Vegas Blog, City Center

First Tour of CityCenter

I was lucky enough to be invited to the first REALTOR tour of Project CityCenter. All I can say is the world is going to be blown away! It's hard to believe that the first part of the project is going to open on December 1st, just over three weeks away. The other hotels and retail will open mid December and the residential closings will start to happen after the first of the year.

With the recent reductions in the sales prices the average price is now around $700,000 with the entry price of $350,000. I also learned that in the coming weeks there will be some announcements about potential financing that has been arranged for buyers.

Stay tuned for many more updates in the coming weeks.