MGM MIRAGE FORMS CONDO SALES COMPANY

 

Business Press - August 9, 2006

By Tony Illia – MGM Mirage announced the formation Wednesday of CityCenter Realty Corp. to oversee sales of 2,800 luxury condominiums at its Project CityCenter development.  The $7 billion, 18 million-square-foot complex officially broke ground on June 26.  The76-acre hotel residential and entertainment undertaking is located along Las Vegas Boulevard, between the Monte Carlo and Bellagio resorts.

Bob Hamrick, chief executive officer of Coldwell Banker Premier Realty, has been tapped as the corporation’s senior vice president. Grant Murray, former sales director for Concord Pacific Place in Vancouver, will serve as vice president of sales and Anna Houssels is director of sales.

“We’ve designed CityCenter Realty Corporation to stand out in a sea of commission-driven agencies with a
sales approach and compensation package that truly focuses on building relationships with our client,” said Hamrick in a statement. “For that reason, we’ve also created a co-op recognition and compensation program that will excite and engage our Realtor partners to place CityCenter on the top of their lists when working with qualified buyers.”  Chicago-based Murphy/Jahn Architects is designing two leaning glass towers, combing for 810 units; Rafael Vinoly Architects of New York is doing a 50-story ebony tower with 1,543 units; New York-based Kohn Pederson Fox Architects’ Mandarin Oriental Hotel and Residences will have 215 units; and The Light Group’s tower will make up the remaining units.

The sales center will open in January 2007. Project CityCenter is tentatively scheduled to finish by November 2009.