City Center in Las Vegas

I am a ferrari owner from the northeast and was wondering where is the best place to purchase a condo in Las Vegas. My sister was there last weekend and everybody told her to buy in the City Center. I am looking to spend $500 thousand to $1.5 million. I want something in town and that will have the best possible resale. Any information on this subject would be greatly appreciated.

 

www.citycenter.com

 

The first thing to look for in a new LV condo is to be sure the project will actually be built. Over 80 new projects have been "announced" here during the past 3 years, but it looks like no more than 30 (if that) will come to fruition. Among the high profile ones that have gone down the tubes were those in which George Clooney, and Ivana Trump, were lead investors. Building costs here have skyrocketed, while the overall housing market has become quite soft.

So I think you need to look for projects being done by companies with a track record of finishing what they start. Since City Center is a project of MGM-Mirage, it certainly fits that description. Others include the various Turnberry projects, and the MGM Residences (although they may be sold out). Another one you might consider is Echelon Place, being buit by the Boyd Group on the site of the old Stardust. It is a couple of years behind CC, but will be a "junior version"; condos combined with multiple hotels. You might be able to get in on that less expensively.

Let me know if you want further information.

 

Thanks Bobleb and Davestv2000 for info and taking the time to reply.

 

Id say go with a Turnberry preject. The MGM was actaully built by Turnberry, but they have Turnberry Towers going up right across the street from Turnberry Place. Another good option if you don't want something so near to the Strip might be Queensridge Place up on Rampart and Alta, near the Suncoast. There is also Mira Villa or something like that on Canyon Run, by Rampart.... Many projects wont give you a finished Condo, but rather a shell with a finished kitchen and bathrooms...

 

Something about this project I don't like. I'm interested to see it in the flesh when its done, but it seems like a hodge podge squeezed together with little fluidity to it.

 

Looks cool to me,
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It now appears that, by the time MGM-Mirage is finished, there may be TWO "City Centers" on the Las Vegas strip.

http://www.lvrj.com/news/7096416.html

(Of course, the second one may use a different name.)

 

just looks like any big city, wheres the Vegas sign? The thing about Vegas is the fantasy of it all, not just NYC buildings with casinos in them. Maybe I'll love it when its done, but right now I don't.

 

Great another of the same old crap. Kirk Kekorian who made one of the classiest places with the original MGM in 1973 has now turned over leadership to the 20 and 30 something's kids who think everything should be a nightclub.

 

The bottom line is what counts. They will build what makes the most money. Have you seen "The Cooler"?

 

Hey Bob, is that the same group building the Echelon Condos in the Centennial Hills area? It's about a mile from me and I was looking into those as an investment oppty..

 

Echelon is being built by Tishman Construction.

This is a cool site to follow all the projects in the city:
http://vegastodayandtomorrow.com/construction_stats.htm

 

Rudy - The Boyd Group (which is building Echelon Place) is a long time Vegas casino company, I think the third biggest now after Harrah's and MGM/Mirage. To my knowledge, they do not have any non-casino real estate proejcts. I think the similarity in names is just a coincidence.

 

Yes you're right, that chart I looked at I guess just had the actual contractor doing the construction.

 

Sounds to me like you're an old fart who doesnt realize that the youth is what funds most all of Las Vegas. Everything in Vegas isnt a night club. City Center is chock full of luxury shops, dining, gaming, hotel(s), conference rooms and banquet halls, etc....

Your statement that 20-30 something kids just want to be clubbing is insulting to all of the people paying for your social security.

Oh, and by the way, all of the board of directors to MGM MIRAGE corp which run the hotels are over the age of 50.