LAS VEGAS | Crown Las Vegas | 1,064 FT / 324 M | NEVER BUILT - Page 12

NYguy · #**221** Posted **May 1, 2007, 8:06 PM**

Quote:

Originally Posted by mdiederi

The magical land of OZ. It's ironic that the WTC was the "OZ" of the 70's remake (the Wiz)...

Dalton · #**222** Posted **May 1, 2007, 8:45 PM**

Quote:

Originally Posted by PuyoPiyo

^^^Look like a Giant Ghost in the town!

It's something strange. And it don't look good.
Who ya gonna call?

DUBAI2015 · #**223** Posted **May 1, 2007, 11:57 PM**

So, why are they putting tarmac on the site again? (I forgot)

mdiederi · #**224** Posted **May 2, 2007, 12:12 AM**

Probably so that it doesn't create a lot of dust while the Fontainebleau construction crews move things around. They have laws against creating too much dust here.

mdiederi · #**225** Posted **May 2, 2007, 8:08 PM**

Held over until the July 17 meeting.

gmcclenon · #**226** Posted **May 2, 2007, 8:28 PM**

Which means it still has some chance. Hasn't been flat turned down yet. How's that for a positive spin?

CHAPINM1 · #**227** Posted **May 2, 2007, 8:37 PM**

What the hell is the f****n delay on this anyhow?!

philip · #**228** Posted **May 2, 2007, 8:46 PM**

Getting an approval for a project like this can take months or even years. This is what they have to go through when they propose something that doesn't conform to the normally accepted height limit. I am not surprised.

Empire Builder · #**229** Posted **May 3, 2007, 12:55 AM**

I wonder how long Milam will keep paying the late fees on the purchase of the property - seems like he will be building up negative equity in the actual property, then have all the construction costs on top of it.

mdiederi · #**230** Posted **May 3, 2007, 2:53 AM**

I was just wondering the same thing. This 8-K SEC form explains some of the late payments and I think in the original agreement that he forfeits the original $40,000,000 installment if he can't consummate the deal by April 2008. There's also something in the third amendment about the price going up from $450,000,000 to $475,000,000 if he doesn't pay $250,000 on May 1 (yesterday) and the late fees are nonrefundable and don't apply to the sale price.

So how much is Milam worth, anyway?

Somebody on the twowayhardthree.com blog suggested that there might be some sort of real estate price pumping scheme going on between Milam and Lowden in the hope of selling it to somebody else. The county had put a time limit on Lowden to figure out what to do with the land and get rid of the eye sore dilapidated water park, and Milan conveniently showed up all of a sudden. I do know that Lowden is not the most liked person in town and is very shrewd. There was a nasty boycott at the Santa Fe when he owned that.

In doing some quick googling for this post I just noticed that in this second amendment that it also explains a temporary lease of the land to a third party (Fontainbleau) that can be terminated 60 days after LVT1 takes title to the land.

Empire Builder · #**231** Posted **May 3, 2007, 11:46 PM**

He must seriously be determined to follow through with this if that's the case.

Question for the Vegas locals: is there a genuine buzz about this tower around town? Or are we the only ones sitting on the edge of our seats whenever this project is up for review?

gmcclenon · #**232** Posted **May 4, 2007, 12:28 AM**

Funny you should ask. I did an informal poll and spoke with every doorman and cabbie I came across the other week and not only had they never heard of LVTI but they did not even realize that the Fontainebleau had started construction. And these guys usually know what's going on.

dbklyno · #**233** Posted **May 4, 2007, 1:19 AM**

HATE IT! how cheap and hideous can it get!?

djvandrake · #**234** Posted **May 4, 2007, 1:43 AM**

The prospect of an 1800' foot tower in Vegas is certainly tanalizing, I just wish I didn't hate the design so much. If it'll work anywhere, then Vegas is the place.

Dale · #**235** Posted **May 4, 2007, 3:04 AM**

I can't believe how prissy some of you folks are. This is Vegas, for crying out loud.

mdiederi · #**236** Posted **May 5, 2007, 10:59 PM**

This just appeared on the site. Obviously for Fontainebleau use.

drobar · #**237** Posted **May 6, 2007, 3:29 AM**

The same goes for me. I talked about FB and LVTI, but everyone looked at me like I was crazy. They didn't even know about them.

Quote:

Originally Posted by gmcclenon

Funny you should ask. I did an informal poll and spoke with every doorman and cabbie I came across the other week and not only had they never heard of LVTI but they did not even realize that the Fontainebleau had started construction. And these guys usually know what's going on.

MrVegas · #**238** Posted **May 26, 2007, 6:05 PM**

Christopher Milan, the businessman behind the 1,888 foot Las Vegas Tower said Friday he has made a $40 million land option payment and the project is proceeding.

Here is the complete article:

http://www.lvrj.com/business/7700387.html

fleonzo · #**239** Posted **May 26, 2007, 6:41 PM**

This project won't happen......mark this date and comment and check back when I'm right!!!

CoolCzech · #**240** Posted **May 26, 2007, 7:38 PM**

OK, so is this thing happening or is everyone in this thread just pounding their collective puds? It's starting to remind me of another thread, that for reasons of avoiding extreme whining and cattiness shall remain nameless.

Any idea what the odds for this exciting proposal are?