Tower C of the condominium-hotel The Residences at MGM Grand is under construction and slated for completion in mid-2007. In a joint venture with Turnberry Associates, the three towers will feature 576 studio, one- and two-bedroom furnished suites.
According to Dan Riordan, sales director of The Residences, the development is attracting buyers from across the country to the condominium hotel. "The Residences provides a turnkey lifestyle of convenience where you can live part-time or year round in Las Vegas," he said. "Many people are opting to use their residence as a second or vacation home and plan to invite their family and friends to visit."
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Sales began in early 2004, according to Riordan, and today, less than 100 of the 1727 residences remain. Total sales have surpassed more than $1.2 billion.
"With Tower A open and Towers B and C under construction, 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." Turnberry pioneered high-rise luxury living first in South Florida, Porto Vita and, now, in Las Vegas with its signature Turnberry Place high-rise condominium community.
Riordan said additional factors contributing to The Residences' success are its affiliation with a major resort and an ideal location overlooking the Las Vegas Strip.
"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."
All suites at The Residences come furnished and include crown molding, raised-panel wood doors, plush wall-to-wall bedroom carpeting, high-speed voice/data connectivity, granite countertops, imported Italian kitchen cabinetry by Snaidero and private owners' closets for added storage space. Sub-Zero refrigeration, Miele appliances, baths with Jacuzzi tubs and ultra-thin flat screen HDTVs are standard.
Each of the three towers will feature 24-hour front desk and concierge services, in-suite dining and a guarded security entrance. Residents have use of fitness centers and exclusive swimming pool complexes.
The Residences is located on the northeast end of MGM Grand's 116-acre property. The community will have its own private, gated entry and each tower will be connected to the resort via an enclosed moving walkway. Prices range from $650,000 to more than $2.5 million.
The sales office is located inside MGM Grand's Studio Walk and is open daily from 9 a.m. to 7 p.m. For more information visit www.mgmgrandresidences or call 891-5555.
