Even if the Jockey Club was owned by 100,000 people you would think staring at a wall would be terrible. Also, what will the Cosmo have there? Will people at the Cosmo get a nice view of the wall too?
I think the Cosmo's podium goes all the way up to the top of the Jockey.
Cosmo's podium does indeed go to the top of Jockey. There will be no windows there. The upper floors will house conference and meeting rooms and the lower floors will be mall and casino. All these floors will have high ceilings.
So it's official, Echelon has started. I heard there are new renders released today that they said hadn't been shown before, but I can't find them on the web yet. http://www.lasvegassun.com/sunbin/st...061910044.html
470 FOOT HEIGHT
40 FLOORS
1,500 RESIDENTIAL CONDOMINIUM UNITS
1,600 TIME SHARE DEVELOPMENT UNITS
6,000 HOTEL ROOMS
22,000 SEAT PRIVATE SPORTS ARENA
1,235,000 SQUARE FEET OF COMMERCIAL SPACE
300,000 SQUARE FEET OF NON-RESTRICTED GAMING SPACE
I like that Pulse/Neon Lights design. It has elements similar to those seen in Red Rock Casino and the future Crystal Ridge development in the Henderson hillside, all of which blend into the copper colors of the desert.
Kerzner and MGM Mirage are in talks for a joint venture casino on the North Strip parcel on Sahara.
Kerzer and MGM will each own 50 percent of the new hotel casino, with MGM providing the land.
Also, the new venture is cooling Kerkorian's decision to purchase Bellagio and CityCenter.
Looks like the solid stock price that revalued MGM's assets and multiple land deals for the North parcel will keep the company's future profits nice and rosy.
Looks like North Strip is truly in play. I did not think MGM was real about developing CircusCircus area. But it appears they are very serious. Atlantis would be a great fit there. Three to five years out, the area will be looking great.
PRESS RELEASE FOR IMMEDIATE RELEASE
MGM MIRAGE AND KERZNER INTERNATIONAL
TO DEVELOP MULTI-BILLION DOLLAR LAS VEGAS RESORT
Las Vegas, Nevada and Paradise Island, Bahamas, June 20, 2007 - MGM MIRAGE (NYSE: MGM) and Kerzner International Holdings Limited (“Kerzner” or “Kerzner International”) announced today that the companies have entered into a letter of intent to form a 50/50 joint venture to develop a multi-billion dollar integrated resort property on the Las Vegas Strip. The parties plan to enter into immediate negotiations with a view to concluding a definitive agreement in the third quarter of 2007.
The new resort will be designed for approximately 40 of the 78 acres of land owned by MGM MIRAGE, located on the corner of Las Vegas Boulevard and Sahara Avenue. Kerzner will lead the planning and conceptualization of this project. The joint venture is expected to draw upon MGM MIRAGE’s substantial presence and experience in Las Vegas and Kerzner’s experience in developing and operating some of the world’s most recognized and successful destination resorts.
“We see this type of relationship as a major part of our company’s future,” said Terry Lanni, Chairman and CEO of MGM MIRAGE. “Our considerable real estate holdings, combined with our experience and efficiencies in developing major entertainment resort properties, are unmatched. We believe this joint venture could well serve as a model for similar transactions which we think could further enhance shareholder value by accelerating growth and conserving our capital, allowing us to pursue other growth opportunities and/or return excess capital to our shareholders.”
Sol Kerzner, Chairman and CEO of Kerzner International, observed: “We have studied the Las Vegas market for some time and believe this is an outstanding opportunity to create one of the most innovative and exciting destination resorts in the world. We are delighted to join forces with MGM MIRAGE.”
Under the terms of the agreement, MGM MIRAGE will provide the land for the resort and Kerzner International and one of its financial partners will provide cash equity, such that each party owns 50 percent of the project. The land being contributed by MGM MIRAGE is being valued at $20 million per acre. The new integrated resort complex is anticipated to be a multi-billion dollar project and will be financed through equity contributions and third-party debt financing.
The broad conceptual design direction of the new resort has been agreed by the parties and design and planning is expected to take approximately one year to complete. Upon completion of the design phase, both parties anticipate a three year construction period. The as-yet unnamed resort project may utilize existing brands owned by either MGM MIRAGE or Kerzner International, or a new brand will be introduced.
“This is an exciting opportunity for our company,” said Jim Murren, President, CFO and Treasurer of MGM MIRAGE. “This is a prime location in the heart of a rapidly developing area of the Las Vegas Strip. Partnering with a highly respected global resort operator on such a prime piece of Las Vegas real estate will certainly result in a spectacular project. This resort will further enhance the Las Vegas tourist experience and drive incremental visitors to the Strip. This development will further elevate the value of our surrounding land holdings and assets.”
is that brick on the facade of the main entrance to Echelon? Not sure if i'm digging that - the towers are beautiful if not somewhat "plain" - I'll give this project the benefit of the doubt that the renderings will do no justice to the final completed project.
__________________
Go ahead .... make my millennium
I don't like the Strip entrance. There's nothing special, just bricks, it's completely uninspired.
The tower looks good though. BTW, what's the blue thing between the "two wings" of the tower? Is it a waterfall ? Or something which look like a waterfall ? Or completely something else ?
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