Second-home buyers flocking to Las Vegas

New environmentally sustainable hotel, residential project selling fast

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

LAS VEGAS -- Where do you start with CityCenter, the 18.6 million-square-foot, $7.4 billion hotel, casino, retail and residential complex on 76 prime acres of this city's legendary Strip? It is the largest privately financed construction project in U.S. history. Its workforce is expected to swell to 7,000 tradesmen and 350 supervisory personnel. It is recycling 80 percent of its construction waste. Incredibly, all components are scheduled to open at the same time -- November 2009 -- including all of its 2,700 residential units. A soft housing market? Not on this quarter mile of Las Vegas Boulevard between the Bellagio and Monte Carlo resorts where greater than 60 percent of all residences, starting at $500,000, have sold in the past 10 months. "A majority of our units are the second, third, fourth or fifth residence for our customers," said Grant Murray, a Vancouver, British Columbia, native who is CityCenter's vice president of residential sales. "Very few were purchase...