Highrollers are folding in Sin City [Las Vegas]
First, the Icon Las Vegas was derailed, then the Hard Rock Hotel and Casino expansion and now the Curve. What’s up with Sin City’s luxury high-rise condo market?
In the last several months, at least seven marquee Las Vegas condo projects have either been canceled or put on hold, causing a dust storm of rumors to swirl through the city and elsewhere as investors wonder if this is a harbinger of a slowdown. The reasons for the projects’ retreats don’t bode well for the larger picture: lack of buyer interest and escalating land, construction and labor costs.