MGM Mirage cancels CityCenter condos in The Harmon
MGM Mirage announced today that they are cancelling the residences half of The Harmon Hotel, Spa & Residences.
Part of the $9 billion CityCenter project, The Harmon was to be a boutique hotel-condo unit with 400 hotel rooms and 200 condos, but now when it opens at its new expected date at the end of 2010, it will only include the hotel rooms.
Scrapping the condos saves $200 million and sidesteps an expensive redesign that would be required by Clark County inspectors, who found mistakes in how structural steel bars were placed.
Though The Harmon reportedly had almost half its units sold (buyers will receive full refunds), restricting the unit to just hotels also saves having to sell the remaining condos in the current flagging economy.
