Home » VT News » MGM Mirage Supersizes Project CityCenter to 7 Billion Dollars

MGM Mirage Supersizes Project CityCenter to 7 Billion Dollars

By Chuckmonster on Thursday, 9th February 2006 12:23pm
  » filed under Las Vegas  comments: 0

   

In whats become a near montly announcement, MGM Mirage Execs have bulked up the size, cost and plans for their mammoth 66 acre development on the Las Vegas Strip - Project City Center.

Current increases include adjusting residential unit size to hit the "sweet spot" of square footage, an upgrade in size and scale of the casino to appeal to a "higher price point" and the construction of a monorail to connect CityCenter to Bellagio and Monte Carlo. Whether or not this will have anything to do with the newly announced west line of the current Vegas monorail remains to be seen.

Evidently the increase in residential unit size will allow MGMMirage to increase base prices on Residential units, and will recoup $2.5B of the $7B overall costs of the project - shearing the total cost $5B to $4.5B.



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