(For more retail coverage, click GlobeSt.com/RETAIL.)
LAS VEGAS-MGM Mirage has come to agreement with Taubman Centers Inc. and Tishman Construction Corp. for services related to its $5-billion, 66-acre CityCenter development between the Bellagio and Monte Carlo casino resorts. The 18 million-sf master planned development will include a 60-story, 4,000-room hotel/casino, two independently flagged 400-room hotels, approximately 500,000 sf of shops, dining and entertainment, and 1,640 luxury condominium and hotel/condominium units. Construction will begin this month.
Bloomfield, MI-based Taubman, a shopping center REIT with 23 centers in 11 states, will lead the retail leasing and provide development and design advisory services for Project CityCenter. The entire project is scheduled to open in late 2009. The term of Taubman's fixed-fee contract is approximately 25 years.
Sources at Taubman tell GlobeSt.com there is a design charette currently under way that will help decide exactly how the retail will be laid out. Generally, they said the retail will reflect the project itself by catering to the upper-end customer. More specifically, they say the major high-end brands will have street exposure right on the Strip in a fashion similar to Fifth Avenue in New York City.
New York-based Tishman Construction will be the executive construction manager for the project, which according to MGM consultants is the largest privately funded commercial development in progress in the US. Tishman says its work on CityCenter is its largest project since its work on Epcot Center for Walt Disney Co. Tishman built the World Trade Center twin towers in New York City that were destroyed by terrorists in 2001 and will build the replacement, Freedom Tower.
At the height of CityCenter construction, Tishman will oversee 7,500 workers onsite. Upon completion, the complex will create more than 12,000 permanent jobs, becoming the largest single employer to come on line in the history of Las Vegas. Additional development phases are envisioned over time on contiguous MGM MIRAGE-owned land.
Project CityCenter is hoping to achieve a Silver certification in Leadership in Energy & Environmental Design (LEED) from the US Green Building Council. A casino has yet to achieve such a rating for environmental sustainability.
Ehrenkrantz Eckstut & Kuhn Architects developed the master plan for the project. Gensler is the executive architect and Cesar Pelli & Associates is the design architect on the 4,000-room hotel/casino. Foster and Partners and Kohn Pedersen Fox Associates will be the non-gaming hotel architects and Raphel Viñoly Architects and James KM Cheng are designing the residential towers. HKS Inc. is the architect of record. The selection of the design teams for the remaining portions of the program is ongoing.
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