Las Vegas Real Estate and Business News

Residences at MGM Grand towers continue rapid rise
Apr. 16, 2006

www.LVNewspapers.com

More than 1,600 of the 1,727 condominium-hotel suites at The Residences at MGM Grand have been sold since January 2004, and demand for the lifestyle remains strong, according to sales director Dan Riordan.

A joint venture between real estate developer Turnberry Ltd. and the MGM Grand resort hotel, the project offers studio, and one- and two- bedroom suites.

Sales of the furnished residences are not the only thing progressing rapidly. Construction is on the fast track with the first 40-story tower slated for completion in May, the second tower surpassing the 32nd floor, and the third tower already built up to the 10th floor.

"With all three towers under construction at The Residences, buyers can feel 100 percent comfortable in their purchase," Riordan said. "And with Turnberry, they know they've chosen a developer with four decades of real estate experience and a comprehensive knowledge of the Las Vegas market.

"Many purchasers are discovering the low-maintenance condominium-hotel lifestyle is the perfect alternative to the upkeep of a single-family vacation or second home," Riordan said. "The high-rise lifestyle is becoming very significant in the evolution of the Las Vegas real estate market. This is just the tip of the iceberg."

The partnership brings residents access to the resort's casino, outdoor pool complex with five swimming pools and private cabanas, a day spa, restaurants, shopping outlets and entertainment.

All suites come with crown molding, raised-panel wood doors, high-speed Internet, granite counter tops, imported Italian kitchen cabinetry and private owners' closets. Upgraded appliances, spa tubs and flat screen HDTVs are also standard.

Prices start from $600,000 to more than $2.5 million.

Each of the three towers will feature 24-hour front desk and concierge services, in-suite dining, a guarded entrance and separate pool and fitness facility.

The development is on the northeast end of MGM Grand's 116-acre property. It will have its own gated entry and each tower will be connected to the resort via an enclosed moving walkway.

A model residence is available for viewing at the sales office in MGM Grand's Studio Walk. It is open daily from 9 a.m. to 7 pm.

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