MGM Mirage announced that it will drop the condo component of the Harmon tower at CityCenter in a move that could save the company as much as $600 million.

Company officials said it was an economic decision that was reached because a redesign or retrofitting project would be expensive. Last year the Las Vegas Sun reported that an investigation by Clark County officials showed that rebar—metal rods that give strength and flexibility to concrete—was not spaced properly, and that the situation would have to be remedied if construction on the tower was going to continue. At the time, MGM Mirage made all indications that it would make the proper changes and build the Harmon as it was designed.

Now, the company will cap the building at its current height and abandon the condo component. At the time of the announcement, only 88 of the 200 condo units had been sold.

By Casino Connection Staff