According to the Las Vegas Review Journal and Engineering News Record officials at MGM Resorts want to demolish Foster & Partners’ unopened 27-story Harmon Hotel, a major part of the $8.5 billion CityCenter development. The building was originally designed as a 47-story tower, but major construction errors and subsequent time and money issues led to its drastic reduction in size. Lawsuits will prevent anything from happening to the building until at least 2012, says MGM. “Right now, I have a building I can’t do anything with,” CityCenter CEO Bobby Baldwin told the LVRJ, adding that Harmon has become “the poster child for nonconforming work worldwide.” For the record the Harmon’s web site still says “Coming Soon.” In its recent third-quarter earnings statement, MGM Resorts said it took a $279 million write down for the Harmon and concluded “it is unlikely the Harmon will be completed using the building as it now stands. “Baldwin concludes: “It was one of the most beautifully designed buildings ever, and it’s sitting static for over two years… The most sophisticated of all the architects (Foster) ended up being involved in a building that was our biggest disappointment.” Read More
New Las Vegas megaresort City Center, which we reviewed in January (it features buildings by Daniel Libeskind, Cesar Pelli, Rafael Viñoly, Helmut Jahn, and others) just reported its first quarter results. They weren’t good. The’s $8.5 billion project, owned by MGM Mirage and Dubai World (which has finally worked out a debt restructuring deal with its creditors), recorded an operating loss of $255 million, and has only been able to sell about 100 of its 2,400 luxury condominiums, according to the Wall Street Journal. MGM is also locked in a lawsuit with its contractor, Perini Building Co, for defective workmanship and overbilling. For what it’s worth the company claims that it will soon begin to turn a profit on the project. Now that’s a Vegas bet we’re interested in following.
And so it begins. MGM Mirage’s 67-acre, 18 million square foot, $7.8 billion CityCenter, one of the biggest developments in the history of mankind, officially opened today. It includes buildings by Cesar Pelli, Daniel Libeskind, Rafael Viñoly, Helmut Jahn, KPF and Norman Foster. We can’t wait to put together our commentary. Here are some initial thoughts after our first day here: Read More