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Named “Best Project” in Development Category
CityCenter, the groundbreaking, 67-acre city-within-a-city on the Las Vegas Strip, has been named the nation’s “Best Project” for overall quality in the development category by Commercial Property Executive (CPE), a leading magazine and integrated resource for commercial real estate executives and companies. The distinction was awarded to CityCenter as part of CPE’s first annual Distinguished Achievement Awards, which recognize the top commercial real estate deals, projects and programs in America completed during 2010.
“CityCenter was built with the highest-quality standards and is the most innovative development of its time,” said Jim Murren, Chairman and CEO of MGM Resorts International (NYSE:MGM). “We are gratified that the experts from this highly respected publication and resource center have recognized CityCenter as one of the most remarkable endeavors in the history of the United States.”
CityCenter is owned by MGM Resorts and Infinity World Development Corp, a subsidiary of Dubai World. CityCenter features ARIA, a 61-story, 4,004-room gaming resort; luxury non-gaming hotels including Las Vegas’ first Mandarin Oriental and Vdara Hotel & Spa; Veer Towers, the development’s only strictly residential buildings; and Crystals, a 500,000-square-foot retail district.
Applicants for the CPE Distinguished Achievement Awards underwent a detailed review process, and were selected by a committee of leading experts in commercial real estate. Awards were granted in 10 categories. CityCenter won the “Best Project” category which was open to new development or redevelopment projects that illustrate an all-around combination of good teamwork, a benefit to the surrounding community, a sound business plan exhibiting solid financial decision making, and reflect innovation, creativity, and efficiency.
“Our Distinguished Achievement awards are designed to recognize the industry’s true achievers, and the ‘Best Project’ accolade carries significant weight,” said Suzann D. Silverman, Editor-In-Chief of CPE. “The award reflects excellence and innovation on a variety of levels: construction, architecture, efficiency and design—all areas in which CityCenter stands out.”
CityCenter and other Distinguished Achievement Awards winners are featured in the October 2011 issue of CPE.
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About Commercial Property Executive
Commercial Property Executive is the leading integrated resource for executives and companies that own, invest in, develop, lease and/or manage commercial real estate. With an emphasis on executive profiles and industry and economic data, Commercial Property Executive also includes reports covering finance, sustainability, technology, property management, education and legal and regulatory issues. Including in this coverage are all major property types and business areas, spanning the United States as well as foreign investment in the country and investment by U.S. entities overseas.
CityCenter is an unprecedented urban metropolis on 67 acres between Bellagio and Monte Carlo resorts on the Las Vegas Strip. CityCenter is a joint venture between MGM Resorts International (NYSE: MGM) and Infinity World Development Corp, a subsidiary of Dubai World. CityCenter features the AAA Five Diamond ARIA, a 61-story, 4,004-room gaming resort; luxury non-gaming hotels including Las Vegas’ first Mandarin Oriental and Vdara Hotel & Spa; Veer Towers, the development’s only strictly residential buildings; and Crystals, a 500,000-square-foot retail and entertainment district. Vdara, Mandarin Oriental, Las Vegas and Veer Towers include approximately 2,400 residences total. CityCenter also features a resident Cirque du Soleil production celebrating the timeless musical legacy of Elvis Presley; and an unparalleled Fine Art Collection with works by acclaimed artists including Maya Lin, Jenny Holzer, Nancy Rubins, Claes Oldenburg and Coosje van Bruggen, among others. CityCenter is a design collaboration between MGM Resorts International and eight internationally acclaimed architectural firms including Pelli Clarke Pelli, Kohn Pedersen Fox, Helmut Jahn, RV Architecture LLC led by Rafael Viñoly, Studio Daniel Libeskind, David Rockwell and Rockwell Group, and Gensler. At the forefront of sustainability, CityCenter is the world’s largest private green development. ARIA, Vdara, Crystals, Mandarin Oriental, Las Vegas and Veer Towers all have received LEED® Gold certification by the U.S. Green Building Council. This marks the highest LEED achievement for any hotel, retail district or residential development in Las Vegas. For more information about CityCenter, please visit www.citycenter.com.
Statements in this release which are not historical facts are “forward looking” statements and “safe harbor statements” Under the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including risks and/or uncertainties as described in the company’s public filings with the Securities and Exchange Commission.
MGM Resorts International
Glodow Nead Communications