Rumors began to circulate the minute the news broke about Deutsche Bank starting the foreclosure process on Cosmopolitan Resort Casino. It seems some real estate agents in Nevada like to jump to the conclusion that MGM MIRAGE would automatically take over this property and make it part of CityCenter. But what is the one major obstacle that could stop that from happening?
The Cosmopolitan was never designed to be a green development
MGM MIRAGE CityCenter is going after LEED certification by the U.S. Green Council. Everything from the on-site cement plant, construction materials, carpet fibers and more come into play. Adding the Cosmopolitan Resort Casino to the CityCenter campus would completely throw off the points in which are used to determine if CityCenter gets LEED certification.
Main reasons why Cosmo most likely won’t become part of CityCenter
- The Cosmopolitan Resort and Cosmo Beach Club Tower are designed to have balconies. Not one residential, hotel, or condohotel unit in CityCenter will feature a balcony due to sustainable living design.
- The Cosmopolitan did not feature an “on site” cement plant during its main foundation pours. This means cement trucks polluted the air while delivering cement. This would completely throw off the points in which the U.S. Green Council uses to “score” CityCenter.
- The Cosmopolitan is not being built with Eco-friendly materials.
- It’s more than likely too late to go back and change the Cosmopolitan into a “green” building.
Could MGM MIRAGE still invest into the Cosmopolitan Resort Casino?
At Luxury Realty Group, we don’t jump to conclusions. Right now, everyone should let Bruce Eichner (developer of the Cosmopolitan), negotiate with the interested parties that have contacted him. The good news is, Perini and Deutsche Bank have negotiated to continue construction while this happens.
One thing is certain…with it’s direct Las Vegas Strip frontage and amazing Bellagio fountain views, the Cosmopolitan Resort Casino’s location is one of a kind.
Before you purchase an investment, vacation, or second home on the Strip
Consult the same brokerage who the national press consults when wanting to learn the real facts about what’s happening on Las Vegas Boulevard. We have over 200 luxury high rise condominium clients on or near the Strip for a reason.
Aaron Auxier, REALTOR® can be reached at 702-205-1818.
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Copyright © 2008 Aaron Auxier. All Rights Reserved.
Disclaimer: All information in this blog is subject to change without notice. Subject matter is not guaranteed and is often times considered time sensitive.
