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MsuMix
Jan 9, 2009, 4:41 AM
They are working on the tapered top of the Cosmopolitan's Beach Tower, it looks like only 2 or 3 more floors to go without the crown?/sign?/night club? at the top...what is at that at the top of Cosmo anyway?

The top floors of the east and west tower are penthouses, the parapet wall design is cool and there will be a sign. The nightclub is at the rec deck level on top of the podium, the rec deck will be one of the premier pool decks in vegas the new design is pretty incredible and sprawls the entire property.

Krases
Jan 9, 2009, 5:07 AM
MsuMix you just made me laugh out loud purely by accident. I wanted to see some of the plans for myself so I typed "cosmo website" into google, completely forgetting to include "Las Vegas" in the search and I got cosmopolitan magazine as the search results with "sex positions" as one of the subcatagories.

At first I was like "WOAH Cosmo is awfully bold about getting prostitutes. No under the table stuff for them, they just put it out there". Then I realized it was cosmopolitan magazine talking about individual acts of private acrobatics and I laughed. Laughed at my own stupidity.

CTLV
Jan 9, 2009, 2:39 PM
The top floors of the east and west tower are penthouses, the parapet wall design is cool and there will be a sign. The nightclub is at the rec deck level on top of the podium, the rec deck will be one of the premier pool decks in vegas the new design is pretty incredible as is sprawls the entire property.

MsuMix, Any hints to where cosmo is headed in the near future in terms of hotel operator? Last I heard was an annoucement was coming in two months, but that was over three to four months ago??? You seem to have your ear to the ground when it comes to the cosmo. Any info you can provide us would be helpful. Thanks in advance.

CosmoVegas
Jan 9, 2009, 5:11 PM
Any hints to where cosmo is headed in the near future in terms of hotel operator? Last I heard was an annoucement was coming in two months, but that was over three to four months ago???

So much for Deutsche bank keeping the owners and media more updated after the forclosure, one update and an email x-mas card in 3 months....WOW, so much better than when Bruce Eichner was still in control.

Bruce911
Jan 9, 2009, 6:39 PM
I mean, it's gotten to the point of ridiculous. They will NOT let me report the true numbers of residential condos on the Strip.

While I will not give out any phone numbers, it's fairly easy to Google the news channels and newspapers in Las Vegas and let them know you want me on.

Please don't be offended, Aaron, but another thing that has gotten ridiculous is the number of times you have repeated yourself in the last few weeks and months. Is constantly preaching to the choir really going to help much? And the "Conspiracy Theory" gets old after a while. I hope you will keep posting, but new things, rather than the same old dead horse. Just my worthless opinion, I know. Thanks.

Bruce911
Jan 9, 2009, 6:46 PM
Didn't mean to ignite a flame war when I mentioned that the Venetian/Palazzo are part of the same complex, so I'll clarify my understanding of it. Although it is obvious that the Palazzo was designed to look and feel like a separate resort, the thing that distinguishes it as being of the same complex as the Venetian is that they both share a lot of the same back-of-house operations not visible to the public. Also, in the Las Vegas Sands 2007 Annual Report it says "With the opening of The Palazzo, our Las Vegas properties represent the world’s largest integrated resort with 7,093 suites..."
http://phx.corporate-ir.net/phoenix.zhtml?c=185629&p=irol-ReportsAnnual

Thanks, mdiederi, for the calm and rational approach, rather than being a "thinks he knows it all and only his opinion is correct" person, who chooses to attack people, rather than sticking to discussing facts and opinions.

Aaron Auxier
Jan 9, 2009, 7:00 PM
No offense taken Bruce, I respect your opinion. However, I'll keep standing up for facts to be reported.

I've been a member of this forum for several years, and people appreciate the truth I bring to the table.

JDRCRASH
Jan 9, 2009, 7:24 PM
Why does the Join Date say June 2008?

stashu
Jan 9, 2009, 9:31 PM
Why does the Join Date say June 2008?

I believe Aaron has had other usernames on the forums, that's all. I can't recall any of them, but I've been a lurker here for a while before I signed up and I know it was before this past June and saw Aaron posting.

vanlaw
Jan 9, 2009, 10:09 PM
Why does the Join Date say June 2008?

06-01-2008, 01:19 PM
Aaron Auxier
Shapiro & Sher Group Join Date: Jun 2008
Posts: 92

Vegas Grows Up is back!

--------------------------------------------------------------------------------
Hello all! I saw Patrick was wondering where I have been, well, I've been reading, just not posting too much.

As you can see, I have a new screenname as well.

Aaron Auxier
Jan 9, 2009, 10:38 PM
06-01-2008, 01:19 PM
Aaron Auxier
Shapiro & Sher Group Join Date: Jun 2008
Posts: 92

Vegas Grows Up is back!

--------------------------------------------------------------------------------
Hello all! I saw Patrick was wondering where I have been, well, I've been reading, just not posting too much.

As you can see, I have a new screen name as well.

Thank you. For those who haven't been around long, I've been an active member on this forum for several years (since the old thread). I changed my user name a few months back. I'm in Vegas, and do my best to provide everyone with photos, news, and stuff the media doesn't report and/or gets wrong.

As an example, I just had to update a journalist contact that Cosmo did not have 2,999 condotel units (which was printed and causes harm to owners). Actually (Per Cosmo sales center on 1-9-09), the number is more like approx. 2,000-2,200 and the rest is hotel. I also had to educate the journalist that the hotel portion (unless they change something) does not have balconies (you can see that in photos on west end of main tower).

Not a conspiracy theory, just mistakes in journalism, poor fact checking, rushed deadlines, and misleading stat firms who mush the figures. Which in the end, harms us all.

Per the Cosmo sales center (on 1-9-09) they had approx. 80-85 percent of the approx. 2000-2,000 condotel units under hard contract. At 2,999 units, that would drop that sales figure to approx. 60 percent. Does anyone think that it's good for potential owners that the world thinks the property only has 60 percent under hard contract?


Bruce does have a point though - I will try to bring something cool and new soon!

ondarox
Jan 9, 2009, 11:08 PM
In the nicest way possible, I'd like to say that how long someone has been posting vs. lurking shouldn't be in question. I have lurked for years and finally started posting this year. And I agree with Stasu- many of us have changed screennames plenty of times, so the join date is merely a reflection of when the screenname was registered.

Also, I'd like to refocus everyone and remind all of us that the key purpose of this group is to discuss construction in Las Vegas and all of the side components that contribute to the construction in Las Vegas. I, as do many others, check in on this forum several times a day to get receive great information from all of the dedicated contributors.

The one thing that we all should remember is that this great forum is only as good as the contibutions that are posted on it. So please keep contributing, and if you feel the need to disagree with someone's post publicly- let's do it in a professional and dignified manner. Let's leave the sassy antagonistic negative stuff for the other forums!

Have a great weekend and I look forward to more great contibutions!

DrT
Jan 10, 2009, 1:07 AM
I am a frequent lurker and very rare contributor. I am interested in LV architecture, construction, condos, and general business goings on, but do not live there and hugely appreciate Aaron's hard contributions in terms of photos and soft contributions in terms of ideas/analyses.

I want to thank Aaron and all of the other frequent contributors for making the LV forum one of the best at SSP.

National Public Radio had a piece today on how much valuable data and information is being put on the net by people volunteering their own time and effort for no compensation and I thought of this thread as a good example.

Thanks all!

Aaron Auxier
Jan 10, 2009, 2:05 AM
Thank you everyone. I love Las Vegas and will do everything I can to raise awareness and do what I feel is best for the people who also love this city.

The world is changing because of the Internet. I will be talking about this in next month's VIVA VEGAS! Luxury Real Estate Update. I'll post a link when it's done.

For anyone who missed Aaron's Annual Thoughts - Las Vegas - 2009 (http://activerain.com/blogsview/860312/Aarons-Annual-Thoughts-Las-Vegas-2009) - make sure to check it out.

MsuMix
Jan 10, 2009, 2:54 AM
MsuMix, Any hints to where cosmo is headed in the near future in terms of hotel operator? Last I heard was an annoucement was coming in two months, but that was over three to four months ago??? You seem to have your ear to the ground when it comes to the cosmo. Any info you can provide us would be helpful. Thanks in advance.

There is a new operator in place, although I'm not sure its public info yet. I also understand they haven't fully decided on the property "brand".

You probably won't find any current plans on the internet... podium and rec deck are still under final architectural development. However the new operator has changed this property for much improvement over Eichner's designs.

mac78130
Jan 10, 2009, 4:01 AM
Cosmo vs. Jockey Club
flickr photo by mary2678
http://flickr.com/photos/mary2678/3183769646/sizes/o/
http://farm4.static.flickr.com/3085/3183769646_c699304a2c_o.jpg

RandalR
Jan 10, 2009, 5:19 AM
Any hints to where cosmo is headed in the near future in terms of hotel operator?

Rumor says it's Hilton.

Aaron Auxier
Jan 10, 2009, 7:47 PM
While I don't get out much, over the last three days, I've had clients in town and have been going out. I have to admit, I've had fun and made many new terrific friends.

I've twice went to Encore and wanted to share my opinions.

Encore (when it comes to vibe), almost gives me a Red Rock feeling - just higher end, much more elegant, and "the new".

- Botero - Standing in Botero, I had an epiphany - Vegas has changed. From the mosaics on the floor to the fab menu, the vibe was one of WOW. This is not your old-school steakhouse.

- Sinatra - I actually was lucky enough to have dinner at the table next to the man himself - Steve Wynn. My experience at Sinatra was stellar. I'd call the menu nouveau Italian. Our waiter was fantastic, I feel "artisan" would better represent how he presented the experience.

- Switch - I have not tried Switch.

- XS - I'm not a club person but was invited to drop in and meet some friends. Real money was falling from the sky (the drop it from above). The ambiance and decor was spot on, bass was poundingly terrific. Lots of beautiful people and an outdoor component (like Tryst). Victor Dre does it again.

Forgive the bad quality of pic below, but my small camera is no good. This is the pool at XS.

http://item.slide.com/r/1/106/i/xiKGCmZu0j-b9JCU6n0rNqDJyuLigOKd/

Zach6668
Jan 10, 2009, 11:43 PM
Thanks for the Encore review, Aaron.

Wynn sent me an offer for 3 free nights, and a $150 restaurant comp (like I'm sure thousands of others got, because I've barely even gambled there), so I decided to take advantage of it.

I'm reallllly looking forward to 3 nights at Encore, all on the house. I leave tomorrow.

Can't wait to get down to Vegas again! I feel like it's been forever, but it's only been since July, hahah.

mdiederi
Jan 11, 2009, 1:11 AM
Cosmopolitan is huge !

Yep. :yes:

http://img.photobucket.com/albums/v120/mdiederi/Cos.jpg

Aaron Auxier
Jan 11, 2009, 3:32 AM
That's an amazing photograph right there.

gmcclenon
Jan 11, 2009, 5:57 PM
Ok, wandering around the CES show yesterday (that's my story and I'm sticking to it) and snapped these off as I walked by:

http://i127.photobucket.com/albums/p131/gdog137/Fontainebleau/fbpalm.jpg

http://i127.photobucket.com/albums/p131/gdog137/Fontainebleau/fbsign.jpg

http://i127.photobucket.com/albums/p131/gdog137/Fontainebleau/fbskystrat.jpg

http://i127.photobucket.com/albums/p131/gdog137/Fontainebleau/fbstrat.jpg

I'll have a few more tonight or tomorrow of the podium from an interesting perspective.

mdiederi
Jan 11, 2009, 8:52 PM
Didn't notice before, but that part on the left edge that sticks out where the glass looks darker only sticks out for a few floors and the newest glass is back to the same place as the lower floors.

sw5710
Jan 11, 2009, 10:29 PM
Didn't notice before, but that part on the left edge that sticks out where the glass looks darker only sticks out for a few floors and the newest glass is back to the same place as the lower floors.

It looks like there are different floor plans hotel or condows. The windows look different at different floors as you go up.

neworleans
Jan 11, 2009, 11:39 PM
Didn't notice before, but that part on the left edge that sticks out where the glass looks darker only sticks out for a few floors and the newest glass is back to the same place as the lower floors.

that's because they haven't finished installing the glass around the corner. you can see from the first pic that the top floors have a slightly different angled corner then the lower floors.

sw5710
Jan 12, 2009, 12:09 AM
That would be a great corner view!

mdiederi
Jan 12, 2009, 12:10 AM
Had the Aria sign been posted yet?
Didn't even notice this yesterday when I was shooting, so had to crop it out from a small section of a bigger photo.
http://img.photobucket.com/albums/v120/mdiederi/buildings/citycenter/AriaSign.jpg

Top of the Mandarin Oriental
http://img.photobucket.com/albums/v120/mdiederi/buildings/citycenter/MandTop.jpg
Not sure what to make of that? Looks like a white fence from someone's yard put on top of a skyscraper.

Bottom of the Mandarin Oriental
http://img.photobucket.com/albums/v120/mdiederi/buildings/citycenter/MandPod.jpg

justdefended
Jan 12, 2009, 12:16 AM
Had the Aria sign been posted yet?

Didn't even notice this yesterday when I was shooting, so had to crop it out from a small section of a bigger photo.

http://img.photobucket.com/albums/v120/mdiederi/buildings/citycenter/AriaSign.jpg

I saw this lit up the other day, it seemed like a work in progress because the lighting was a bit off, i.e. the R and I were dimmer or something.

Aaron Auxier
Jan 12, 2009, 2:47 AM
I saw this lit up the other day, it seemed like a work in progress because the lighting was a bit off, i.e. the R and I were dimmer or something.

I concur that the lighting seems a tad off on a couple letters (saw it the other night).

BTW - Has anybody thought about this? Palms Place now stands as the primary celebrity-oriented condo property in Vegas. Soon, I'll be doing a press release in regards to a Palms penthouse that I'm involved with (it is entire south side, top floor of building - hanging pool and everything). It's an awesome piece of real estate.

Also, One Queensridge Place is a property that I'm telling many of my high-profile clients about because of its utter elegance and focus on security. Great place for an athlete to train and heal during off season.

Losing The Harmon was upsetting, but re-energized my focus to Palms Place and One Queensridge Place.

ScottG
Jan 12, 2009, 4:53 AM
i saw the aria a day ago too - its seems a little small for a tower that big - i never did like the font nor the name for that matter - its werid to put signs ontop of the towers- its abeling them - weird -

i wonder what will happen to all the adertisments and websites with renderings of city center showing the harmon full height? will they all be revoked and replaced with new renderings on a shortened harmon?


btw - cosmo is unbeleiveable- being the real thing is just as amazing - both towers are great - alternating blue/ grey glass - full length balconies - GREAT location - i love this project - i think it will be among the best places to go - - the structure for the club is currently in the works now.


i heard from an employee at TI that MIRAGE HAS BEEN SOLD. the announcement should be made soon....she also said that mgmmirage is going to sell all their pproperties except for mandalybay, city center, and bellagio.....

not too sure on her credability tho.

encore is amazing - i walked there through wynn - was amaze with wynn, as always, experienced encore with my mouth open and wallet tight, then walked back to wynn and felt like i was in palace station - encore really takes the apeal away from wynn - what a great casino.

gmcclenon
Jan 12, 2009, 5:16 AM
Couple more of FB:

Main pool taking shape 80 feet above the strip:
http://i127.photobucket.com/albums/p131/gdog137/FBpodium.jpg

'European style' pool hiding there to the right:
http://i127.photobucket.com/albums/p131/gdog137/fbpooldeck.jpg

View from across the street tonight:
http://i127.photobucket.com/albums/p131/gdog137/FBdusk.jpg

Aaron Auxier
Jan 12, 2009, 5:22 AM
Nice bottom pic G.

mdiederi
Jan 12, 2009, 5:38 AM
Wow, that glass looks so different in that light and from that angle. Awesome view from up there. I think Sky is in an enviable location.

mac78130
Jan 12, 2009, 9:55 AM
Does anyone think it's going to be extemely, extemely hot during the summer time with all the glass reflecting the heat around citycenter and cosmo? The Cosmo angle fascade looks interesting but is it going to turn into a magnifying glass burning the pedestrians like little ants?

mac78130
Jan 12, 2009, 4:12 PM
Lou Ruvo Brain Institute
Looks like melted steel
Flickr photo by Otomatsu (http://www.flickr.com/photos/otomatsu/3190687867/)

http://farm4.static.flickr.com/3384/3190687867_a3a1a341a9_b.jpg

mdiederi
Jan 12, 2009, 4:54 PM
Does anyone think it's going to be extemely, extemely hot during the summer time with all the glass reflecting the heat around citycenter and cosmo? The Cosmo angle fascade looks interesting but is it going to turn into a magnifying glass burning the pedestrians like little ants?
It's gonna be extremely, extremely hot this summer with or without glass. :cool: Look at that building in the photo above, it's already melting.

Aaron Auxier
Jan 12, 2009, 5:37 PM
For once, a local journalist has had the integrity to write the truth about Strip condo numbers. Liz and I put this article together last week. I'm glad she was able to get it printed.

However, I need to ask you Liz...why no credit to me for making the article happen and providing all the stats? :eeekk:

http://www.lasvegassun.com/news/2009/jan/12/harmon-isnt-strips-only-troubled-condo/

neworleans
Jan 12, 2009, 7:53 PM
i wonder what will happen to all the adertisments and websites with renderings of city center showing the harmon full height? will they all be revoked and replaced with new renderings on a shortened harmon?

they've already deleted all the links to the harmon residences, but i'm sure they'll just leave all the renderings because that seems like it would be too much work and it looks better w/ it there anyways. Plus, a lot of projects tend to deviate from their renderings anyways.

mac78130
Jan 12, 2009, 8:31 PM
It seems that orange wall is going to be everywhere
flickr photo by El Caganer (http://flickr.com/photos/seat850/3192211404/)

http://farm4.static.flickr.com/3439/3192211404_f02c4e9420.jpg?v=0

justdefended
Jan 12, 2009, 9:50 PM
It seems that orange wall is going to be everywhere
flickr photo by El Caganer (http://flickr.com/photos/seat850/3192211404/)

http://farm4.static.flickr.com/3439/3192211404_f02c4e9420.jpg?v=0

I like the orange plates around the glass, it gives this unexpected dash of color in an area with dense glass buildings.

About The Harmon, Jim Murren says the shortened building won't hinder the appeal of the project:

http://www.lasvegassun.com/news/2009/jan/08/company-exec-says-scaling-down-most-logical-move/

CityCenter, the company’s multibillion-dollar joint venture resort complex with Infinity World Development Corp., was originally designed with much shorter buildings in front so it wouldn’t be as imposing to pedestrians, Murren said.

In a departure from the typical casino resort, the main gaming hotel is behind hotel and condominium towers that face the Strip. A shorter hotel is expected to complement CityCenter’s Crystals mall, a low-slung building with boutiques that open to Las Vegas Boulevard, he said.

In time for CityCenter’s grand opening late this year, The Harmon’s exterior will be complete and the building will be lighted as if it is occupied, Murren said. Interior work on the hotel, now expected to debut in late 2010, will begin after the other buildings are up and running.

tumbleweed
Jan 12, 2009, 10:13 PM
http://www.lvrj.com/news/breaking_news/37462974.html
Harrah's Entertainment has suspended completion of the 665-room Octavius Tower at Caesars Palace from its scheduled mid-summer opening “until a period of stronger demand,” the company confirmed today.

Other parts of the company’s $1 billion expansion, including the 110,000-square-foot meeting space, will open on schedule.

mdiederi
Jan 12, 2009, 10:50 PM
Gees, and that's not even a condo tower. But, Harrah's is so strapped for cash it's not that much of a surprise, really.

Krases
Jan 12, 2009, 11:27 PM
Suspended!?!?!

Crap! That was going to be a nice addition! That really sucks.



i heard from an employee at TI that MIRAGE HAS BEEN SOLD. the announcement should be made soon....she also said that mgmmirage is going to sell all their pproperties except for mandalybay, city center, and bellagio.....


I don't think MGM is going to be cashing in that many chips yet. :jester:

mac78130
Jan 12, 2009, 11:34 PM
So are they at least going to complete the outside part?

patrick84
Jan 13, 2009, 2:00 AM
So are they at least going to complete the outside part?

Construction on the exterior of the hotel tower, however, will continue, said Jonathan Halkyard, Harrah's chief financial officer.

Once customer demand improves, Caesars will be able to bring the rooms online in a matter of months, he added.

voice of reason
Jan 13, 2009, 2:52 AM
Las Vegas' version of the 'domino theory' is playing out. I respect the executives making the tough calls. I think it is time that the Cosmopolitan management comes out of their bunker and faces reality. There is no way that they can complete the condo/hotel concept since the bottom has fallen out of the Las Vegas economy and financing for these properties is non-existent. Stop the charade and come up with Plan B because Plan A is dead and everyone knows it.

Aaron Auxier
Jan 13, 2009, 3:01 AM
The insane market and world is giving me lots of blog fodder.

If anyone is interested in easily following my latest blogs via Twitter or adding me as a friend on Facebook, below are links to both.

I blog a few times a week so you can automatically get the latest news I post, comment on them, etc.


Aaron Auxier Twitter page (http://twitter.com/AaronAuxier)

Aaron Auxier Facebook page (http://www.facebook.com/profile.php?id=537765417)

MsuMix
Jan 13, 2009, 3:40 AM
Las Vegas' version of the 'domino theory' is playing out. I respect the executives making the tough calls. I think it is time that the Cosmopolitan management comes out of their bunker and faces reality. There is no way that they can complete the condo/hotel concept since the bottom has fallen out of the Las Vegas economy and financing for these properties is non-existent. Stop the charade and come up with Plan B because Plan A is dead and everyone knows it.

Hate to tell ya buddy, but I work for the GC on this project - cosmo is very well funded and construction is going strong to completion in all areas including condo/hotel tower build out.

CTLV
Jan 13, 2009, 3:58 AM
Rumor says it's Hilton.

Do you think it will be a Conrad or Waldorf?

Can anyone heard any other news lately regarding sales or what the rooms will look like?

Thanks in advance,

RandalR
Jan 13, 2009, 4:40 AM
Do you think it will be a Conrad or Waldorf?


I think it will be the new Las Vegas Hilton. The existing one is in line for a name change later this year, anyway, when the owners' licensing agreement with Hilton runs out.

voice of reason
Jan 13, 2009, 5:13 AM
Hate to tell ya buddy, but I work for the GC on this project - cosmo is very well funded and construction is going strong to completion in all areas including condo/hotel tower build out.

My comment did not state that the building wouldn't get built, obviously it will. It just wont get SOLD in the original format (condo/hotel) because their is NO MARKET for it at the original contract prices and their is NO FINANCING available for this product, even if the original clients were unsavy enough to go thru with their purchases. buddy wuddy. I wouldn't brag about working for Perini after the week they had.

True Blue
Jan 13, 2009, 7:06 AM
Las Vegas' version of the 'domino theory' is playing out. I respect the executives making the tough calls. I think it is time that the Cosmopolitan management comes out of their bunker and faces reality. There is no way that they can complete the condo/hotel concept since the bottom has fallen out of the Las Vegas economy and financing for these properties is non-existent. Stop the charade and come up with Plan B because Plan A is dead and everyone knows it.

I agree 100%!! The same thing will happen to the Cosmo as it did the Trump! Only 25% of the owners at the Trump were able to close their unit. Many units closed before the credit crunch fully took its toll. I'm sure the ones that did close wished they didn't because of the large negative cash flow and decreased value. Most owners walked away from their 20% down payment or joined a class action lawsuit against Trump. The Cosmo has 1800 or so units under contract. The only ones that could close would be all cash buyers. Does the future owner of the Cosmo really want to go down that road? If they do, they will be trying to sell unsellable units and face countless lawsuits!

I love the building and location, but there are no buyers for a condo/hotel in todays market. If I was a large hotel chain looking to purchase the Cosmo, I would cancel the Condo/Hotel component and make it Hotel Casino with the best location on the strip. Perhaps in 10 years the hotel chain could put the units up for sale again, but at top dollar when the demand is at its peak.

mdiederi
Jan 13, 2009, 8:12 AM
Found the Hilton rumor.
http://www.lasvegasweekly.com/blogs/luxe-life/2008/dec/22/gossip-grab-bag-britney-benji-out-town-and-fergie-/
*Just asking! Is it true that the Cosmopolitan condo-tel under construction alongside the whopping MGM CityCenter project has signed Hilton to run its hotel under a new “H” branding? Whispers also say convincingly that former Mandalay Bay head honcho Bill Richardson will run the casino there for mortgage holder developer Deutsche Bank!


And this was in the same gossip column:
Another dual tower of condos will be converted into a regular hotel operation as so few apartments have sold and more are unlikely until the nation’s financial crisis is solved.
Only dual condo towers I can think of are the Veer towers.

Aaron Auxier
Jan 13, 2009, 8:40 AM
Found the Hilton rumor.
http://www.lasvegasweekly.com/blogs/luxe-life/2008/dec/22/gossip-grab-bag-britney-benji-out-town-and-fergie-/


And this was in the same gossip column:

Only dual condo towers I can think of are the Veer towers.

It would really be a shame to lose Veer Towers. Veer is one of only two pure residential high-rise buildings on the Strip. Mandarin is residential, but has boutique hotel component below. Sky owners would probably rejoice if this happened.

Let's not forget, Cosmopolitan is also two towers and would make more sense to make into hotel only. Then again, he mentioned slow sales. Cosmo is approx. 85 percent under hard contract so seems unlikely.

mac78130
Jan 13, 2009, 2:53 PM
Maybe make one Veer Tower residential and the other a hotel.

justdefended
Jan 13, 2009, 6:04 PM
Wow a positive story about Vegas and CityCenter on one page!

MGM Mirage has received about 35,000 applicants for CityCenter positions in one week.

CityCenter extending hope on a huge scale

http://www.lasvegassun.com/news/2009/jan/13/citycenter-extending-hope-huge-scale/

mac78130
Jan 13, 2009, 6:16 PM
I think I saw on a few photos on the web that they are taking down the tower cranes at Planet Hollywood? I wonder if the second tower will ever be built?

Another tower crane is being removed from Aria as well.

heyyoucharlie
Jan 13, 2009, 6:35 PM
Rumor I heard from a friend in construction on the strip: Wynn is in contract talks to buy out Echelon.

Don't know how serious he is or not, but that would be HUGE for the North strip!!!

DMaldon762
Jan 13, 2009, 7:11 PM
Why doesn't Maloof ever get involved with the Strip?

DrT
Jan 13, 2009, 7:38 PM
Re: City Center, Cosmo, FB

At this point, the goal of the developers, banks and investors is simply to minimize losses. Had this horrific market been anticipated, none of these projects, like City Center or Cosmo, would have gone forward.

So, how do they minimize losses? Slow sale of condo-hotel units, slow sale of pure condos or an operating hotel/casino with ongoing losses.

These are the choices facing these executives, none which are particularly appealing. "Shelling" and waiting for better times is a last resort, also involving an ongoing loss.

These projects are so unique and desirable that, inspite of the economy, they can be sold, not at the bubble prices of the recent past, but at lower prices. The banks/developers may have to bite the bullet and take some losses by re-pricing units at much lower price points. A condo that will not sell at $1,100/foot would probable sell like a hot cake at $550/foot. "Everything has it's price".

mdiederi
Jan 13, 2009, 8:22 PM
Why doesn't Maloof ever get involved with the Strip?
I heard a rumor that he was thinking of buying Bally's and Paris from Harrah's, which makes sense since he owns a major league sports franchise and that purchase would include the land approved for an arena.

DMaldon762
Jan 13, 2009, 8:47 PM
I heard a rumor that he was thinking of buying Bally's and Paris from Harrah's, which makes sense since he owns a major league sports franchise and that purchase would include the land approved for an arena.


Las Vegas Kings has a nice ring to it.

Aaron Auxier
Jan 13, 2009, 9:12 PM
George will move at his own pace. He stands for as the role model for "Pride of Ownership" in this city. Wynn would be up there with him.

voice of reason
Jan 14, 2009, 4:01 AM
George will move at his own pace. He stands for as the role model for "Pride of Ownership" in this city. Wynn would be up there with him.

From a perspective of your living in Vegas for a handfull of years, I can understand your opinion. In the historical view of the town, putting Maloof in the same league as Wynn (love him or hate him) is incorrect at best. Maloof is making his mark on Vegas but keep it in reasonable perspective, please.

Aaron Auxier
Jan 14, 2009, 4:11 AM
Today, I released my monthly VIVA VEGAS! Listing Update. In it, I include over $85 Million worth of our luxury listings in Vegas (note that the Sky penthouse is Luxury Realty Group's listing).

See photos of the direct Strip Sky Suite as well as our $28 million listing in The Enclave below

VIVA VEGAS! Listing Update Jan. 09 (http://activerain.com/blogsview/879021/Aaron-Auxiers-VIVA-VEGAS-Listing-Update-January-2009) (links to properties and pictures at bottom)

Aaron Auxier
Jan 14, 2009, 4:14 AM
From a perspective of your living in Vegas for a handfull of years, I can understand your opinion. In the historical view of the town, putting Maloof in the same league as Wynn (love him or hate him) is incorrect at best. Maloof is making his mark on Vegas but keep it in reasonable perspective, please.

I disagree. I don't see anyone who does what George Maloof does. Perhaps I have a different perspective as I see it in person.

Wynn, as I said, is also up at the top.

Jake2006
Jan 14, 2009, 2:23 PM
Penn National says it is not buying the Mirage.

http://www.lvrj.com/business/37559834.html

vanlaw
Jan 14, 2009, 6:46 PM
From a perspective of your living in Vegas for a handfull of years, I can understand your opinion. In the historical view of the town, putting Maloof in the same league as Wynn (love him or hate him) is incorrect at best. Maloof is making his mark on Vegas but keep it in reasonable perspective, please.

If the original assertion was "Maloof has done as much for Vegas historically (i.e. change in style of hotels, sheer number and size of hotels designed, built etc) as Wynn" then you are correct. There is no doubt that Wynn has single handidly changed the face of Vegas more than any other individual.

However, I think the point was "Maloof takes a huge amount of pride in what he owns, much more so than others, and therefore isn’t as willing as others to spread himself too thin or jump too quickly into other ventures at the expense of what he already owns"

Aaron Auxier
Jan 14, 2009, 7:25 PM
If the original assertion was "Maloof has done as much for Vegas historically (i.e. change in style of hotels, sheer number and size of hotels designed, built etc) as Wynn" then you are correct. There is no doubt that Wynn has single handidly changed the face of Vegas more than any other individual.

However, I think the point was "Maloof takes a huge amount of pride in what he owns, much more so than others, and therefore isn’t as willing as others to spread himself too thin or jump too quickly into other ventures at the expense of what he already owns"

Thank you Van - that is exactly what I was getting at in regards to George Maloof (along with his constant involvement with his clients and product - Some may not be aware of that as they never have seen it).

CosmoVegas
Jan 14, 2009, 7:49 PM
Hate to tell ya buddy, but I work for the GC on this project - cosmo is very well funded and construction is going strong to completion in all areas including condo/hotel tower build out.

Are you sure about that, Deutsche is funding the Cosmopolitan:

"How much longer can Deutsche Bank continue to convince investors it doesn't need to raise new capital?"

"The German giant has successfully maintained its high wire act since the start of the credit crisis despite being one of the most highly leveraged banks in the world."

http://online.wsj.com/article/SB123194185392681211.html?mod=yahoo_hs&ru=yahoo

leftopolis
Jan 14, 2009, 11:27 PM
Not exactly high-rises--but there's been a bit of doom and gloom on this thread recently--and I thought I'd post some good news wrt development in LV:

Sansone Development continues projects despite dismal economy(full story @ LV Business Press) (http://www.lvbusinesspress.com/articles/2009/01/12/news/iq_26167341.txt)
Roland Sansone knows development. He's a long-serving member of the Clark County Planning Commission who has built nearly a half-million square feet of office parks, shopping centers and industrial complexes in Southern Nevada during the last three decades. His company, Sansone Development, has $206.8 million in projects under way in the Las Vegas Valley.

Sansone is one of the few developers proceeding with construction in the dismal economy. He remains poised and confident about the future. "I feel that by 2010 the financial markets will begin a rebound," Sansone said. "People are still looking to move. It's all about location."
Sansone's four active developments are all along the Las Vegas Beltway... Sansone, is building a $30 million office and retail complex at St. Rose Parkway, just south of the Beltway in Green Valley. The five-building development, on 6.5 acres, totals 83,500 square feet... There is a three-story, 62,364-square-foot Class A office building, with space divisible down to 1,800 square feet.Sansone St. Rose Coronado Office Park broke ground in December, yet its already 25 percent preleased with such tenants as Community Bank of Nevada, Starbucks, Dunkin Donuts, and 3 Tomatoes & A Mozzarella. Onsite banking and dining amenities let workers easily handle errands and manage lunch hours without driving across town. The project is scheduled to finish in the second quarter of 2010.

Sansone is also building an adjacent project called Sansone St. Rose Park. The $18.3 million development calls for two office buildings totaling 53,000 square feet. The project, on 4.5 acres, also has a 3,500-square-foot restaurant pad. The complex, which broke ground in December, will finish in the third quarter.

In the southwest, the company is developing another office park along the Beltway at Rainbow Boulevard. The $38.5 million project consists of two buildings and a garage. The complex, on five acres, features a three-story, 58,772-square-foot building plus a four-story, 68,000-square-foot building.Plans, meanwhile, are under way for a three-building, 300,000-square-foot office park at Sunset Road and the Beltway. The development, on 10 acres, calls for two three-story structures and one five-story building. Yiliong Liu & Associates designed the steel-framed, glass-skinned office buildings. There will also be an eight-level, 1,025 space parking garage and a restaurant pad. Sansone 215 Sunset Office Park has planning approval, but the $120 million project won't break ground until next summer.

mdiederi
Jan 15, 2009, 12:32 AM
Are you sure about that, Deutsche is funding the Cosmopolitan:

"How much longer can Deutsche Bank continue to convince investors it doesn't need to raise new capital?"

"The German giant has successfully maintained its high wire act since the start of the credit crisis despite being one of the most highly leveraged banks in the world."

http://online.wsj.com/article/SB123194185392681211.html?mod=yahoo_hs&ru=yahoo
So I guess that means that Deutsche won't be able to finance the condo buyers? I was kind of thinking they would since they were already so deep into it, but now I don't know.

ted carter
Jan 15, 2009, 1:06 AM
My parents and I used to go to Las Vegas Nevada (http://www.las-vegas.cc/) in the 60's and there wasn't much going then, but now there are so many projects and Las Vegas Hotels (vegas-nevada.com/las-vegas-hotels.php) are being built everywhere. The city is overbuilt and too crowded now-definitely booming.

CosmoVegas
Jan 15, 2009, 1:39 AM
So I guess that means that Deutsche won't be able to finance the condo buyers? I was kind of thinking they would since they were already so deep into it, but now I don't know.

I don't think they would have financed the buyers anyway, look at what is going on with Trump in Chicago, they gave him a loan and sold most of it to other banks quickly to lower their exposure. This was before the credit market froze up so bad. Besides, it is doubtful they want anymore of this project then they already have, it's bad enough as-is. I do know they are trying to get some preferred lenders on board to finance the buyers, but good luck in this market. BTW, how is MGM doing on finding preferred lenders for their condo-hotels?

Jake2006
Jan 15, 2009, 1:56 AM
I don't think they would have financed the buyers anyway, look at what is going on with Trump in Chicago, they gave him a loan and sold most of it to other banks quickly to lower their exposure. This was before the credit market froze up so bad. Besides, it is doubtful they want anymore of this project then they already have, it's bad enough as-is. I do know they are trying to get some preferred lenders on board to finance the buyers, but good luck in this market. BTW, how is MGM doing on finding preferred lenders for their condo-hotels?

As of this week MGM had not lined up any lenders.

Aaron Auxier
Jan 15, 2009, 2:50 AM
I am stunned by the banks' refusal to see the new market. Last week, they offered to RAISE my principal!

As to not get off topic on the forum, if anyone is interested, I recently wrote an article called The Fico Forgiveness Act of 2012? (http://activerain.com/blogsview/876663/The-FICO-Forgiveness-Act-of-2012-Principal-reduction-Bailouts-for-Homeowners-Someone-better-start-paying-attention) (read here). It has generated dozens and dozens of comments.

I am concerned about any more condotels opening in Vegas anytime soon. We should just stick to dealing with Trump, Cosmo, Palms Place, Signature, and Platinum.

Also, I recently wrote a blog about what properties celebrity-type clients are calling me on as far as options to The Harmon. I'm saying Palms Place, One Queensridge Place, and guard-gated homes in places like The Ridges (http://activerain.com/blogsview/880896/With-The-Harmon-Residences-cancelled-celebrity-focus-goes-to-Palms-Place-One-Queensridge-Place-and-guard-gated-luxury-homes). See link for the reasons why.

Bottom line, there is no perfect replacement for The Harmon. It was residential, celebrity-oriented, and on Strip.

CosmoVegas
Jan 15, 2009, 5:55 AM
I am stunned by the banks' refusal to see the new market. Last week, they offered to RAISE my principal!

As to not get off topic on the forum, if anyone is interested, I recently wrote an article called The Fico Forgiveness Act of 2012? (http://activerain.com/blogsview/876663/The-FICO-Forgiveness-Act-of-2012-Principal-reduction-Bailouts-for-Homeowners-Someone-better-start-paying-attention) (read here). It has generated dozens and dozens of comments.

I am concerned about any more condotels opening in Vegas anytime soon. We should just stick to dealing with Trump, Cosmo, Palms Place, Signature, and Platinum.

Also, I recently wrote a blog about what properties celebrity-type clients are calling me on as far as options to The Harmon. I'm saying Palms Place, One Queensridge Place, and guard-gated homes in places like The Ridges (http://activerain.com/blogsview/880896/With-The-Harmon-Residences-cancelled-celebrity-focus-goes-to-Palms-Place-One-Queensridge-Place-and-guard-gated-luxury-homes). See link for the reasons why.

Bottom line, there is no perfect replacement for The Harmon. It was residential, celebrity-oriented, and on Strip.

Banks are still lending, but they will only lend at current market value, the problem is the current market value is based on recent sales from mostly foreclosed, bank owned properties. So after you find a bargain priced piece of real estate (the only thing they will lend on) the next step is down payment time, good luck:

Option A) Come up with 20% down, fine but you must live on/in the property, the only way to get this loan for a second home is by purchasing a duplex...but if you don't live there full time you fall under Option B below.

Option B) If you do not live there but the property is residential you get the loan but only after you cough up a 30% down payment...but guess what, there is a stipulation; it must be multi-family or mixed use, something like retail space on bottom and lofts on top. If that does not work then you fall under retail income property, option C.

Option C) If you do not want a residential loan then your property is retail income, this seems to be what condo-hotels fall under. In this case you get the loan with 40% down. If your property does not fall under option A,B or C, no problem...option D:

Option D) 50% down will get you whatever you want few questions asked unless it's bare land...option E.

Option E) Dirt loans, not a problem, just come up with 100% down or owner financing.




It's ugly out there my friends.

BTW, what do you mean raise your principal?

Aaron Auxier
Jan 15, 2009, 6:06 AM
Banks are still lending, but they will only lend at current market value, the problem is the current market value is based on recent sales from mostly foreclosed, bank owned properties. So after you find a bargain priced piece of real estate (the only thing they will lend on) the next step is down payment time, good luck:

Option A) Come up with 20% down, fine but you must live on/in the property, the only way to get this loan for a second home is by purchasing a duplex...but if you don't live there full time you fall under Option B below.

Option B) If you do not live there but the property is residential you get the loan but only after you cough up a 30% down payment...but guess what, there is a stipulation; it must be multi-family or mixed use, something like retail space on bottom and lofts on top. If that does not work then you fall under retail income property, option C.

Option C) If you do not want a residential loan then your property is retail income, this seems to be what condo-hotels fall under. In this case you get the loan with 40% down. If your property does not fall under option A,B or C, no problem...option D:

Option D) 50% down will get you whatever you want few questions asked unless it's bare land...option E.

Option E) Dirt loans, not a problem, just come up with 100% down or owner financing.




It's ugly out there my friends.

BTW, what do you mean raise your principal?


Nice job CosmoVegas.

Also, what I mean by "raise my principal" is that after six months of losing my paperwork and leading me on, my bank came out and appraised my half-value home (in order to do a loan mod). Their solution to keeping me in my 300k upside down home? Lock my rate for one extra year and RAISE my principal.

True Blue
Jan 15, 2009, 6:56 AM
Option A) Come up with 20% down, fine but you must live on/in the property, the only way to get this loan for a second home is by purchasing a duplex...but if you don't live there full time you fall under Option B below.

Option B) If you do not live there but the property is residential you get the loan but only after you cough up a 30% down payment...but guess what, there is a stipulation; it must be multi-family or mixed use, something like retail space on bottom and lofts on top. If that does not work then you fall under retail income property, option C.

Option C) If you do not want a residential loan then your property is retail income, this seems to be what condo-hotels fall under. In this case you get the loan with 40% down. If your property does not fall under option A,B or C, no problem...option D:

Option D) 50% down will get you whatever you want few questions asked unless it's bare land...option E.

Option E) Dirt loans, not a problem, just come up with 100% down or owner financing.


I was trying to finance a one bedroom unit at the Trump 6 months ago. To get a loan, I would fall under your Option D)......in addition to qualifying for a loan with 50% down, I would have to pay 4 points @ 12% Interest. OUCH!

Like you said, the 50% down payment is based on current market values and not the price you paid 4 years ago. How many owners at the CityCenter and Cosmo would be able to qualify for a loan with these terms? Not many! I believe most owners at the Cosmo are your average Joe speculator. Most don't have the capital needed to finance their units anymore. Walk away or sue will be their only options.

justdefended
Jan 15, 2009, 7:03 AM
Banks are still lending, but they will only lend at current market value, the problem is the current market value is based on recent sales from mostly foreclosed, bank owned properties. So after you find a bargain priced piece of real estate (the only thing they will lend on) the next step is down payment time, good luck:

Option A) Come up with 20% down, fine but you must live on/in the property, the only way to get this loan for a second home is by purchasing a duplex...but if you don't live there full time you fall under Option B below.

Option B) If you do not live there but the property is residential you get the loan but only after you cough up a 30% down payment...but guess what, there is a stipulation; it must be multi-family or mixed use, something like retail space on bottom and lofts on top. If that does not work then you fall under retail income property, option C.

Option C) If you do not want a residential loan then your property is retail income, this seems to be what condo-hotels fall under. In this case you get the loan with 40% down. If your property does not fall under option A,B or C, no problem...option D:

Option D) 50% down will get you whatever you want few questions asked unless it's bare land...option E.

Option E) Dirt loans, not a problem, just come up with 100% down or owner financing.

It's ugly out there my friends.

BTW, what do you mean raise your principal?

I think a lot of people who purchased at CityCenter are concerned about borrowing. From the most wealthy from the well-to-do everybody had their money in property and stocks, the latter of which really tanked.

Mandarin and Veer being residential condos should be reasonable to lend for. Vdara and Cosmo will be difficult unless there's more than 20 percent down. The problem is I don't think buyers are willing to farm out any more cash in this economic state.

On the same token I doubt that the builders will cancel contracts who don't close immediately. They know how bad the situation is and would rather hold onto a potential buyer than risk losing one.

Aaron Auxier
Jan 15, 2009, 8:32 AM
A major wake-up call could soon be on the horizon. Is it time to cancel upcoming condotel projects and turn them into hotel only?

True Blue
Jan 15, 2009, 9:07 AM
A major wake-up call could soon be on the horizon. Is it time to cancel upcoming condotel projects and turn them into hotel only?

You're 100% correct Aaron. I just wish the condotel project owners would come to that conclussion. They must feel their project won't have the same problems everyone else has. What are they smoking?

I got a newsletter from the Cosmopolitan today. It was just a PR progress report saying how the unit owners can't wait for the project to be completed. Total B.S.! Most Cosmo owners I know want their deposits back. I'm not too excited about having to make a 50% down payment with bad terms during the worst recession we've seen in the past 60 years. Not to mention the value of my unit has probably dropped from when I bought it 4 years ago.

mac78130
Jan 15, 2009, 10:20 AM
A little more on Harmon..
"Some of the steel was so badly positioned it stuck out of the concrete floor and was sawed off to conceal the mistake"
Wow that's bad..

http://www.lasvegassun.com/news/2009/jan/15/watchers-were-not-watched/

Everytime I'm in Vegas and see that building, poor construction will always cross my mind.

worldpool
Jan 15, 2009, 4:15 PM
so what your saying Aaron is that is better to bulid hotels then condotels and i agree that we should build more hotel then condos and what happen having a theme hotel then a reguler hotel so i want to see more hotels then condos

JDRCRASH
Jan 15, 2009, 4:26 PM
They were talking on ABC: Nightline last night about Vegas. CitiCenter is struggling big time to get completed, while projects like Echelon have stopped construction all together.

worldpool
Jan 15, 2009, 4:35 PM
we never hear good thing about the new hotels and stuff i think they need to find a way to fix these problems that they have i want to see echelon to come abaout i want to see the plaza and city center and the rest of the hotels that need to be done so we can injoy theme when we vist theme

Aaron Auxier
Jan 15, 2009, 4:42 PM
I'm surprised at my Vegas' lack of "listening" to those on the street.

I've been out quite a bit lately and it's been empowering. I walk up to tourists and ask them what they think of our city. They all say they love it but that we have embarrassed ourselves. I know where that embarrassment begins - ego. Ego has stood in the way of Pride of Ownership and listening.

Richard Lee and I at Mayor Oscar Goodman's State of the City Address 1-13-08
http://item.slide.com/r/1/130/i/GfS-uzn-5z_GcVmHMF4O-PpSG__zNZxh/

mdiederi
Jan 15, 2009, 4:54 PM
Everytime I'm in Vegas and see that building, poor construction will always cross my mind.
Sort of like when I look at the Stratosphere Tower I always notice that one leg is crooked because they built it wrong.

worldpool
Jan 15, 2009, 4:58 PM
you are right we got to make are voice heard from everyone who owns a casino in vegas and in are city were we live its time we do something about vegas

True Blue
Jan 15, 2009, 5:11 PM
I've been getting calls from high-level people within gaming companies over the last week and have been having private one-on-one meetings. They all want my opinion where they are going wrong. If they listen to me, if they listen to you, we have the opportunity to make real change.

I'm having a meeting with local government soon to tell them our message :)


Hey Aaron, if you can convince the high-level people to drop the condotel component like what was done at the Harmon, then you got my vote. Good Luck!!

worldpool
Jan 15, 2009, 5:16 PM
please do tell them to cancel all condo projects for us

justdefended
Jan 15, 2009, 6:30 PM
A little more on Harmon..
"Some of the steel was so badly positioned it stuck out of the concrete floor and was sawed off to conceal the mistake"
Wow that's bad..

http://www.lasvegassun.com/news/2009/jan/15/watchers-were-not-watched/

Everytime I'm in Vegas and see that building, poor construction will always cross my mind.

Here's a great breakdown of what happened exactly with The Harmon

http://media.lasvegassun.com/media/img/photos/2009/01/14/Rebar_Harmon_t652.jpg?

In the video interviews accompanying the article, a rep mentions that repairs were being made to make it a structurally safe 49-story building. Ultimately MGM Mirage felt the cost savings and less residences would be much more fiscally responsible for the company at this time.

For the construction experts out there, could MGM ever add the residences at a later point or will that be impossible after they finish the insides next year?

worldpool
Jan 15, 2009, 6:35 PM
guess what i found

Southern Nevada lands projects advance in Senate vote

By STEVE TETREAULT
STEPHENS WASHINGTON BUREAU
WASHINGTON — The Senate passed a giant federal lands bill today that advances a handful of Nevada projects that were stalled in Congress last year.

The bill was hailed by sponsors as the most sweeping conservation measure the Senate has undertaken in years, combining more than 160 individual bills that had been left over from its previous session.

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It passed 73-21, and was sent to the House for further action.

Among Nevada elements, it contains:

—A flood control bill that would release 65 acres along the foothills of Sunrise Mountain to be incorporated into the Orchard Detention Basin Project, a storm water basin being engineered by Clark County.

—An 80-acre land transfer in Summerlin, of which 24.4 acres would be granted by the Bureau of Land Management to the Nevada Cancer Institute for a campus and treatment center.

The remainder of the property at Alta Drive and Hualapai Way would be sold to the city of Las Vegas, which plans to have 16 acres developed for medical offices. The city also envisions a park and water pumping station at the site.

—A bill to study sites that played a role in the Cold War for possible inclusion in the government's inventory of historically significant landmarks.

The bill was inspired in part by efforts of Southern Nevadan Steve Ririe, who has researched and documented the site atop Mount Charleston where a C-54 transport plane on a secret flight to the Nevada Test Site crashed in 1955.

—A transfer of 502 acres from the BLM to Henderson for development around the Henderson Executive Airport.

Testifying before the House last year, Henderson Mayor Jim Gibson said the proposed acquisition was an important part of the city's long-term economic plan.

The umbrella bills would set aside 2 million acres of protected wilderness in nine states, and add more than 1,000 miles to the system of wild and scenic rivers.

The overall package became noteworthy both for its size and because it sparked a protest by Sen. Tom Coburn, R-Okla., who had blocked a number of the bills last year.

Aaron Auxier
Jan 15, 2009, 6:38 PM
Here are some photos of Ascaya - approx. 300 lots above MacDonald Highlands that many expect to forever change Las Vegas luxury. The goal is for a very natural and organic building approach that sets very high standards.

In order to stay on topic of architecture, I felt everyone would enjoy these new photos of ours :). Custom lots could sell into the dozens of millions and be the type of place where the world's wealthiest build compounds. Lots start at about half an acre and go high above, which are very hard to come by in communities such as The Ridges, MacDonald Highlands, Queensridge, Seven Hills, and more.

Enjoy the photos!
http://item.slide.com/r/1/180/i/MNSuN94ipz-dwkSy41Ox0kAVLWs2U9lx/

http://item.slide.com/r/1/222/i/RtkcEt610T95WSS5WMjg3xHzC6p9hXgb/

http://item.slide.com/r/1/29/i/DLXCovTY6T-mzzNnzqcyJowP9TDddo3x/

ondarox
Jan 15, 2009, 6:49 PM
Here's a great breakdown of what happened exactly with The Harmon

http://media.lasvegassun.com/media/img/photos/2009/01/14/Rebar_Harmon_t652.jpg?

For the construction experts out there, could MGM ever add the residences at a later point or will that be impossible after they finish the insides next year?

Justdefended-

Thanks for the rebar image. That helps explain a lot to those who are confused on how rebar works and is installed.

I too am interested in the answer to the question you posted. To my knowledge, it probably wouldn't be feasible to add floors at a later date. But I may be coming from old school construction knowledge... who knows what ppl are doing these days. (They did add the Venezia to the top of the parking garage...)

steel
Jan 15, 2009, 9:36 PM
Here are some photos of Ascaya - approx. 300 lots above MacDonald Highlands that many expect to forever change Las Vegas luxury. The goal is for a very natural and organic building approach that sets very high standards.

In order to stay on topic of architecture, I felt everyone would enjoy these new photos of ours :). Custom lots could sell into the dozens of millions and be the type of place where the world's wealthiest build compounds. Lots start at about half an acre and go high above, which are very hard to come by in communities such as The Ridges, MacDonald Highlands, Queensridge, Seven Hills, and more.

Enjoy the photos!
http://item.slide.com/r/1/180/i/MNSuN94ipz-dwkSy41Ox0kAVLWs2U9lx/

http://item.slide.com/r/1/222/i/RtkcEt610T95WSS5WMjg3xHzC6p9hXgb/

http://item.slide.com/r/1/29/i/DLXCovTY6T-mzzNnzqcyJowP9TDddo3x/
Seeing this actually makes me very sad. When are we going to stop destroying the natural landscape?

Aaron Auxier
Jan 15, 2009, 10:05 PM
In continued effort to raise awareness of the banks not working hard enough to help struggling homeowners, this article further underscores the concern. How does a bank try to RAISE principal on homes in Las Vegas - Ground Zero of the housing crisis?

http://www.lvrj.com/news/breaking_news/37582959.html

leftopolis
Jan 15, 2009, 10:37 PM
Seeing this actually makes me very sad. When are we going to stop destroying the natural landscape?

I agree. It's shameful that the fragile desert beauty--is being destroyed for/by a handful of the greedy moneyed elite--who have no appreciation of it. My enthusiasm for skycrapers and urban culture is equaled by how turned off I am by the destruction in those photos.

CHAPINM1
Jan 15, 2009, 10:47 PM
Regarding the Harmon, I wouldn't want to live there knowing that there have been mishaps regarding consturuction that may deem the building as defective. If money was not an issue and if there was reason to question the saftey, I'd say condemn the existing structure and build a new one when the economy rebounds, JUST A THOUGHT so don't get to crazy on me now...

Krases
Jan 16, 2009, 1:26 AM
I agree. It's shameful that the fragile desert beauty--is being destroyed for/by a handful of the greedy moneyed elite--who have no appreciation of it. My enthusiasm for skycrapers and urban culture is equaled by how turned off I am by the destruction in those photos.

I kinda agree. It could be a lot worse (like completely excavating/removing the mountain) but I do think that a lot more could have been done to preserve the shape of the mountains. Natural desert parks/hiking trails should be used if any expansion is done outside of whats already been built.

I hope Vegas doesn't turn into LA. I think more should be done to prevent too much expansion into the mountains. I think sprawl would be very bad for Vegas and more should be done to increase density/public transport.

Sorry I have to bash you Aaron. It does look pretty cool in a design sense and the privacy that the mountains provide is very nice, but I think there needs to be less expansion into the desert and more conservation.