According to a recent article in Forbes, Station Casinos (now owned by Fertitta/Colony Partners) revealed they may develop a 110-acre parcel slightly west of the $8.4 billion MGM MIRAGE CityCenter project in Las Vegas. The project was referenced by Station Casinos as Viva.

It will be interesting to see how this plays out considering the price tag of Viva could approach $10 billion. At approx $8.4 billion, CityCenter (a joint development between MGM MIRAGE and Dubai World) is currently the most expensive private-funded project in U.S. History. CityCenter contains several high-rise structures including a 60-story casino hotel, Vdara Condo Hotel, Veer Towers, Mandarin Oriental, and The Harmon Hotel, Spa, & Residences.

If Station Casinos does move forward with the Viva mega-resort (which could include several casinos, hotels, and high-rise condo properties), it would put Panorama Towers (see renderings, building info, and amenities) virtually in the middle of approx. $20 billion worth of new developments. Already, Panorama Towers sits just across the I-15 from CityCenter, something most owners took into consideration before making investments in the project.

Map showing location of Panorama Towers (LV Blvd. far right)

Check out VegasTodayAndTomorrow.com for more maps and detailed information about Las Vegas Strip development (past, present, and future).

In Conclusion

When CityCenter opens in late 2009, it is expected to set a new standard for amenities on the Strip. World-class entertainment, spas, restaurants, nightclubs, retail, water shows, and a fine-art program are planned for the approx. 76-acre property.

Adding to its appeal, Panorama Towers' location is close to Bellagio and the Cosmopolitan Resort Casino; both locations are considered to be some of the most prime-location real estate on the Las Vegas Strip (see images and get info for several Strip high-rise projects).

MLS Inventory and Strip Comparison

See the latest inventory in Panorama Towers as well as a comparison to prices on the Las Vegas Strip (as of April 18th, 2008).

Aaron Auxier REALTOR®, ABR can be reached at 702-205-1818

Copyright © 2008 Aaron Auxier. All Rights Reserved.

Disclaimer: All information in this post is subject to change without notice. Subject matter: is an opinion, is not guaranteed, may be time sensitive, and may be based on information collected from several sources which may or may not be reliable at the time of sourcing.