Glazing Underway at Mandarin Podium

The Mandarin Podium at CityCenter will require installation of 44,000 sq ft of curtainwall. Photo courtesy Giroux Glass

The Las Vegas division of Giroux Glass Inc. is currently on track with construction of a $30 million contract on the Mandarin Podium at CityCenter. Under general contractor Perini Building Co., Giroux is installing 44,000 sq ft of curtainwall, 12,000 sq ft of titanium panels, 36,000 sq ft of stainless steel and 20,000 sq ft each of zinc and aluminum. Other components include doors, hand railings, canopies, glass floors and louvers.

Begun in January 2008 with architect Kohn Pedersen Fox & Associates and engineer AAI, the subcontractor's portion is expected to be complete by September.

CityCenter Gets Cash Infusion

MGM Mirage Inc. is taking aggressive steps to shore-up funds for its still under construction CityCenter development. The gaming giant is selling the MGM Grand Detroit in Michigan and Beau Rivage casino in Mississippi, which could fetch a combined $4 billion, say industry observers.

MGM Mirage, which has $13.5 billion in long-term debt, had been struggling for months to raise $1.2 billion needed for the project's final leg of construction. It had warned that it could default on loans as soon as this month, threatening the outcome of the 76-acre mega-project. The company recently suffered a setback when co-developer Dubai World filed suit to exit the development. MGM Mirage subsequently was forced to make a $200 million progress payment on March 27 that included an unpaid $100 million contribution from its partner.

The company has until May 15 to resolve its remaining cash flow and debt problems. Financial suitors are lining up: Melbourne-based Crown Ltd., which has casinos in Australia and China, has reportedly been in talks with MGM Mirage about a CityCenter investment. Colony Capital also has expressed interest in investing in the company in exchange for assets.

—By Tony Illia

Dragon City Casino Site to Be Auctioned

The Dragon City Hotel and Resort will be auctioned in Las Vegas.

The 22-acre Dragon City Hotel and Resort casino site in Las Vegas will go on the auction block this month during the International Council of Shopping Centers Convention in what could be one of the largest single assets ever sold at an open outcry real estate auction.

The property is being sold by Spring Mountain Wynn Investments LLC subject to the approval of U.S. Bankruptcy Court.

The property has recently been appraised for $174 million and the opening bid for the property is set at $27.5 million.

Zoning permits and approvals are in place for a 28-story, 2,200-room hotel with 500,000 sq ft of gaming, restaurant, entertainment and conference/meeting space.

The Asian-themed resort takes its name from the site, which is located adjacent to Las Vegas' Chinatown, three blocks off of the Las Vegas Strip.

Flood Control Underway on Oakey Blvd.

Work has started on a $6.2 million flood control improvement project on Oakey Boulevard near Rancho Drive and will take approximately 10 months to complete. The improvement project starts at Birch Street, east of Rancho Drive and will proceed westerly to Cahlan Drive.

Las Vegas Paving is the contractor. Funding is provided by the Clark County Regional Flood Control District. The city of Las Vegas Department of Public Works is managing the project.

Crisci Begins New HQ

Crisci Builders has begun construction on its new commercial building, Crisci Properties LLC, at 8845 W. Flamingo Road in Las Vegas.

The two-story, 17,450-sq-ft project will house Crisci Builders' headquarters as well as accommodate two other tenants. The general contractor is completing ground-up construction on its professional building, which will include a 48-ft-tall rotunda with a dual spiral staircase.

Completion of the $2.3 million building is scheduled for June. DAH Designs is the architect of record.

United Completes New Offices

United Construction Co. has completed construction on its new corporate office in Reno. United is pursuing LEED gold certification with features such as interior courtyards, lighting control systems and recycled building materials purchased from local sources. Construction on the 12,350-sq-ft facility began August 2008.

Granite Begins New I-80 Interchange at Fernley

Granite Construction Co. has begun work on a $10.4 million NDOT project for the construction of a new interchange on Interstate 80. The project, scheduled to be complete in Winter 2009, will include construction of four ramps and a new overpass two miles east of the East Fernley exit.

Once completed, the new interchange will help improve access to East Fernley and will ultimately connect to an alternate route to Interstate 50.

The project will require importing more than 300,000 cubic yds of borrow in order to create the elevation needed for the four new ramps, 100,000 tons aggregate base, 29,000 tons of paving and 1,700 cubic yds of concrete.

Reno Pitches New Baseball Development Plan

Reno City Council, acting as the Reno Redevelopment Agency's board, gave final approval to revisions of certain agreements with the developers of Triple-A baseball designed to ensure the development of the entertainment district surrounding the ballpark.

Among other things, the revised agreement will save the city $6.6 million since the developer will purchase the RTC CitiCenter site prior to development. Under the original agreement, the Redevelopment Agency agreed to purchase the site and donate the land to the developer. The $6.6 million in savings reduces the entire investment by the city to about half of the original agreement.

This revised agreement also requires development of the entertainment district to begin within two years and if for some reason the project is not finished, the developer must repay any money received. The first payment is set for October 2010, which will allow the tax increment to accrue for a year before payment is due.

Under the plan, two full service restaurants and three nightclubs are the first projects to be built. The architectural and engineering work is expected to begin immediately with up to 125 construction workers expected to begin their work by August. If all goes as planned, construction is expected to be completed in time for the start of the 2010 baseball season.

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