Las Vegas NowCityCenter to Reduce Condo Prices by 30-Percent
Developers of the $8.5 billion CityCenter on the Las Vegas Strip are planning a 30 percent price cut on condominiums that people have already bought, just help close the deals during the recession.
Company officials announced Monday that CityCenter, co-owned by MGM Mirage and Dubai World, will begin closing on the 2,400 units in two boutique hotels and two residential towers in January at the reduced prices.
Chief Executive Bobby Baldwin says the reductions give buyers more flexibility to complete their deals.
Other parts of the 67-acre project include a 4,000-room casino-resort and a retail mall. The project is to start opening in December.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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