It’s no secret that certain construction projects on the Las Vegas Strip have come to a screeching halt as a result of the shaky economy.
Fortunately for the Vegas economy, the 18 million-sqare-foot CityCenter is still on track for a late 2009 opening. According to recent news reports, the project is fully financed and MGM Mirage’s 50-50 partner Dubai World is dropping its lawsuit against MGM.
Located between Bellagio and Monte Carlo resorts, CityCenter has risen from the ashes of the rundown Boardwalk hotel and its faux-Ferris wheel facade (imploded in 2006). It will feature the 4,004-room gaming resort ARIA as well as non-gaming resorts Vdara Hotel, Mandarin Oriental, The Harmon (slated to open in 2010) and the strictly residential Veer Towers. The urban development includes Crystals, a 500,00-square-foot retail and entertainment district, and a $40 million public fine art program.
While CityCenter covers an expansive 67-acre footprint, the project is one of the world’s largest sustainable developments with an eye toward reducing its carbon footprint. Additionally, CityCenter is expected to bring 12,000 jobs to the valley.