The condominium-hotel concept has proved popular in Las Vegas, according to Dan Riordan, director of sales for The Residences at MGM Grand.
"Las Vegas is a growing second-home market, and many people are discovering the advantages to owning a turnkey, fully furnished condominium," he said. "Our prospective buyers range from locals to international visitors who want to come and go as they please, take advantage of our ideal location and luxury amenities, and know that their condo will be ready for them whenever they return."
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The Residences will comprise three 40-story towers. Studio units measure 600 square feet; one-bedroom plans measure 1,000 square feet; and one-bedroom combination suites measure 1,600 square feet. Each unit includes furnishings.
A two-bedroom model is open from 9 a.m. to 7 p.m. daily in the MGM's Studio Walk.
"The model residence is extremely beneficial because it shows exactly what the residences will look like, from the flat-screen TVs to the kitchen appliances," Riordan said.
Interiors showcase crown moldings, raised-panel wood doors, bedroom carpeting, spa tubs, high-speed voice/data connectivity, granite counter tops, imported Italian kitchen cabinetry, and private owners' closets for added storage.
Among those interested in the property is Leon Alexander, a frequent visitor to Las Vegas.
"I have been coming to Las Vegas on a regular basis over the years, and I realized I did not want to continue to stay at a hotel," he said. "The Residences at MGM Grand offers the best of both worlds. I will have all the amenities of a world-class hotel and the privacy of a condominium in one location."
Two towers are sold out and under construction; the first will open in June 2006. The third tower has units available priced from $450,000 to more than $2 million.
Each tower will have a guarded entry and front-desk personnel on duty around the clock. Concierge services and in-suite dining will be available.
Residents also can access a fitness center and pool.
The project is a joint venture between MGM Grand and Florida-based Turnberry Associates.
