Last Gasp for Vegas?
The $8.5 billion CityCenter mega project is set to open next week in Las Vegas. Many say it's likely to be the last major project in the struggling city for years.
"The $8.5 billion joint venture by MGM Mirage Inc. and Dubai World features the work of eight top architects and several luxury hotel and condo towers, a major retail complex, and, not least, a full casino.
It represents the next wave of uber-resort-casinos with everything under one roof. And it could be the last project of its scope to be built in Las Vegas for several years, analysts say, because of the credit squeeze, low demand, and an oversupply of hotel rooms."
CityCenter is the only mega project to complete in Las Vegas in 2009, as the global economic recession has caused countless others to stall or completely dissipate.
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- Libeskind Says Downturn is Right Time for Mega Projects - Dec 17, 2009
- 'A Palace for the Age of Towering Debt and Easy Credit' - Dec 15, 2009
- Is CityCenter Just Another Theme on the Strip? - Oct 04, 2010
- Mega Development or Mega Disappointment? - Jun 17, 2010
- The Man Behind CityCenter - Jan 01, 2010
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