Las Vegas Condominium High Rise Project Cancelled – What Will Michael Jordan Do Now???
A Las Vegas condominium high rise project backed by NBA star Michael Jordan has been cancelled. According to a recent press release, the project was to have included a Michael Jordan athletic center and one of his signature steakhouse restaurants. It would have been built in a desirable location on the Las Vegas strip, right behind the Ballys Casino.
50% of the Las Vegas condominium units had been sold. Refunds will be issued to buyers shortly.
The developers of this Las Vegas condominium project cite increased construction costs for the cancellation of the high-rise. The recent boom in luxury Las Vegas condominiums has driven up the price of land and building materials as developers race to complete their projects.