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Las Vegas Losing Streak Continues As Slowdown Hits Another Project - ENR | McGraw-Hill Construction

Publication Date: 11-AUG-08
Author:  Tony Illia
Format: HTML

    
Description:
Las Vegas’ luck is seemingly running dry as another mega-project slows construction. Chicago-based General Growth Properties recently announced its decision to delay opening its 107-acre “Summerlin Centre” mixed-use development in southwest Las Vegas by a year or more. The company is deferring approximately $500 million of worth development expenditures during the next 18 months. General Growth cited a souring economy, slow pre-leasing activity and waning consumer confidence for its decision.
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