One of the last major developments of Las Vegas's recent building boom, MGM's $8.5 billion CityCenter opened during the depths of the recession. Three years later, after slashing prices for hotel rooms and condos, the clouds are beginning to lift.
Alison Gregor examines the shifting fortunes of the 67-acre CityCenter project, one of the largest privately financed developments in the United States, which opened in late 2009 just as the Las Vegas's tourism and housing industries crashed.
"Nearly three years since it opened, CityCenter is seen as, at best, a
qualified success," says Gregor. "A majority of the hotel rooms have been filled, but
at much lower room rates than originally planned. Condominium sales have
not taken off, though, and the units that have sold have gone at big
discounts. Many luxury retailers have moved into the shopping center,
but about 12 percent of the mall is still vacant."
Although experts believe that CityCenter has "finally been fully absorbed by the local economy," in a city known for splashy excess, it may be quite a long time before a project of a similar magnitude appears on the Strip.
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Frugality is probably not the first word one would associate with a city known for sin and excess. But in the wake of the global financial crash, Matthew Garrahan examines how Las Vegas is pursuing a conservative path to recovery.
Las Vegas Solar Arrays and the Future of Power Utilities
Casinos are energy intensive and often located in areas with specific resource constraints and surpluses (i.e., Las Vegas), thus they offer a perfect case study for the future of solar energy.
Norman Foster-Designed Tower to be Demolished in Las Vegas
Around the corner from buildings by Daniel Libeskind and Rafael Vinoly (just to name two) in the CityCenter section of the Las Vegas Strip, a never-complete building, designed by Forster + Partners, stood empty for years. Not for long.
What ‘The Brutalist’ Teaches Us About Modern Cities
How architecture and urban landscapes reflect the trauma and dysfunction of the post-war experience.
‘Complete Streets’ Webpage Deleted in Federal Purge
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Downtown Los Angeles on the Rise: A Promising 2025
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San Francisco Slow Streets Bucks Citywide Trend, Reducing Injuries by 61 Percent
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How Single-Family Conversions Benefit Both Homeowners and Cities
Converting single-family homes to triplexes can ease the housing crisis and offer affordable, flexible options for more households. Why is it largely illegal?
Report: Transportation Equity Requires More Than Electrification
Lower-income households often lack the resources to buy electric cars, signaling a need for a more holistic approach to improving mobility and lowering transportation costs.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Economic & Planning Systems, Inc.
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research