Here is a good article on the new FontaineBleau Las Vegas Condominium/Casino project taking shape on the Las Vegas Strip –> Full Speed Ahead
Fontainebleau Resorts Chief Operating Officer Howard Karawan said that although the company’s owners have been keeping a low profile, the $2.9 billion project is fully financed and moving toward a late 2009 opening.
The key to this project is that they have a back up plan if pre-construction condominium sales don’t go as planned as obvious in this quote:
“The market is definitely looking for the condo sales,” Farrell said. “The condo market is obviously weak and it will be interesting to see at what price it makes more sense for Fontainebleau to hold onto the units as hotel rooms.”
The success of this condominium project as with other Luxury Las Vegas condominium projects will be the amenities that are going to attract actual users and not just speculators. Las Vegas was built on entertainment which is precisely why some projects such as City Center, The Residences at MGM and FontaineBleau get it… and others don’t.
Paul Francis, ABR,CRS
Coldwell Banker Premier
Las Vegas Real Estate
702.592.3058
