Quote:
Originally Posted by eco74
It was designed to be a condo/hotel hybrid, with a casino. Now it's just a hotel with a casino. Spending $4 billion on a condo complex would be even more insane than spending it on a hotel/casino (which they did).
I think it's pretty insane that they basically built it on an island. It's sad that it was intended to have a casino, because it sure doesn't look like it was designed for it. The casino floors are so small and cramped.
On wikipedia, it says that it was originally planned to have 150,000 sq. feet of casino space. They ended up with 75,000 sq. feet. That must be why it seems cramped.
I don't know anything about hotel or condo-hotel finance, so how much would each unit, based on the wikipedia info of 2200 condo-hotel units, and 800 hotel units, need to be sold for to make the 4 billion worthwhile? This project started right at the height of the Las Vegas condo boom, so I'm sure their projections for sales were wildly optimistic.
Are condo-hotel units cheaper, or more expensive than just condo units?