In Business Las Vegas has a story on the slowdown of new condo development in Vegas. The big exception is CityCenter which is still going strong with condo sales and is actually benefitting from the cancellation of "W" on Harmon. Buyers want the Strip!
"That success is evident by MGM Mirage reporting there are more than $1.1 billion in sales out of $2.7 billion in units it has on the market. Some 205 of the 227 residences at Mandarin Oriental have been sold. The Vdara condo hotel has sold 452 of its 1,543 residences and the two Veer Towers have written deals for more than 220 of its 670 condos, said Tony Dennis, executive director of CityCenter's residential division."
Condo Craze Cools