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Hard Rock Hotel and Casino expands with condos
Peter Morton's Hard Rock Hotel & Casino has always been associated with musicians, celebrities and rock n roll. But now it will be further distinguished for its large-scale condominium expansion, marketed as the Bungalows Residences Flats at the Hard Rock. Everyone from supermodel Claudia Schiffer to Motley Crue and Sergei Fedorov has units and they represent only a sampling of the new residents.
Even with a number of competing condominium projects popping up in Las Vegas, the Bungalows Residences Flats at the Hard Rock Hotel and Casino in Las Vegas surpassed the competition with record-breaking sales statistics.
The Bungalows Residences Flats:
* Features Resort Condominiums (Towers 1 and 2), Private Luxury Residence Condominiums (Towers 3, 4, and 5) and thirty-two Poolside Bungalow.
* Received 11,000 interest calls from hard rock loyalist.
* Secured 3,600 priority reservations earlier this year in just 4 weeks, which set a local market and an industry record.
* Is currently in contract phase, which is unlike many other projects that are still in the reservation phase.
* Is the largest single-phase residential condominium sales release in U.S. history?
* Has locked in nearly $800 million of sales contracts in just 6 weeks, which also set a local market and an industry record.
* Has secured a $1.25 Billion Dollar construction financing through Credit Suisse First Boston, one of the largest residential construction financings in U.S. history.
Construction is expected to commence in early 2006 and will be completed by 2008. The general contractor will be MJ Dean. The project will triple the size of the Hard Rock Las Vegas, adding 1,420 condominiums, an expanded casino floor, a new Joint live performance venue, new restaurants (including Mr. Chow), meeting and ballroom facilities, as well as new resort pools, spas and related amenities.
The visionaries behind these exquisite condominiums are: Peter Morton, CEO and Founder of the Hard Rock Hotel & Casino Las Vegas, Chris Milam President of International Development Management the developer, Chad Oppenheim, President of Miami-based architect Oppenheim Architecture + Design, and Howard Fields of HFA International, the pools and landscape designer.
Source: BonusGambler.com Editors' Choice
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