The Plaza postpones groundbreaking
Another high-profile project has stalled.
Last week, it was Boyd Gaming's $4.8 billion Echelon that halted construction for up to a year while waiting for the economy to improve. Echelon had broken ground in June but was having a hard time scraping together financing.
Now plans for the $5 billion Plaza Hotel (based on the New York City landmark) has been put off, also by a year. The Plaza planned to break ground at the end of this year with an opening set in 2011. Ground-breaking will now be postponed until next year, with no firm plans yet on an opening date.
