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LAS VEGAS-MGM Mirage on Friday revealed the headliners for the 500,000-sf retail district within its multi-billion 67-acre CityCenter development in the heart of the Las Vegas Strip, an 18 million-sf development set to open all at once in late 2009. The Crystals retail district will be anchored by Louis Vuitton, Ermenegildo Zegna and Tiffany & Co., as well as two new dining concepts by Wolfgang Puck.

Louis Vuitton will have a two-level store offering all of its product categories in the center of the development. Though its size was not provided, MGM Mirages says it will be one of the largest Louis Vuitton locations in North America and its 16th worldwide. Ermenegildo Zegna will showcase its extensive collection of suiting, sportswear, small leather goods and accessories in an approximately 10,000-sf boutique. Tiffany & Co. will open a 10,000-sf, two-level story that faces Las Vegas Boulevard. Opening its fifth US store will be Marni, which offers clothing for men, women and children.

Wolfgang Puck’s new concepts will include a contemporary interpretation of a traditional French brasserie with tastes of the Mediterranean region, a new concept for Puck. The second, known as the Wolfgang Puck “Pods,” will offer light American and Mediterranean fare as well as a bar with views of the center. Another eatery announced by MGM will be a new version of Katana, the sushi and Robatayaki concept by Innovative Dining Group. IDG’s existing Las Vegas restaurants include Sushi Roku and BOA Steakhouse.

In deference to its name, the Crystals also will house several jewelers. Opening their first West Coast stores will be de Grisogono and H. Stern. Roberto Coin will use the Crystals for its second US boutique and cultured pearl pioneer Mikimoto will be opening its second Las Vegas store at the Crystals. In addition, Hyde Park Jewelers will open a store devoted to Rolex wristwatches, while Tourbillon, which is owned by Swatch, will offer wristwatches by Breguet, Blancpain, Glashtte Original, Jaquet Droz, Leìon Hatot and Omega.

CityCenter is taking shape between the Bellagio and Monte Carlo resorts. The project is a 50-50 joint venture of MGM Mirage and Dubai World, a Dubai government conglomerate whose companies include Nakheel, developer of the man-made Palm and World islands off the coast of Dubai.

All told, CityCenter will be home to a 61-story, 4,000-room resort casino; two 400-room, non-gaming hotels; and 2,700 for-sale residential units, including the 1,500-unit Vdara. Shopping and entertainment offerings will include the Crystals and an Elvis-themed Cirque du Soleil show. The development also will include its own monorail to move people around the site.

The actual gross cost of CityCenter is more than $11 billion. In its first quarter report, MGM Mirage pegged the net project budget at $8.5 million–after an expected $2.7 billion in residential sales. The gross project budget includes $9.2 billion for construction costs (including capitalized interest), $1.7 billion for the land, $200 million for pre-opening expenses and $100 million of “intangible assets.”

A few months ago, with the project’s opening 15 months away, about half of the 2,700 residential units had been sold. The mix of buyers has been about one-third Nevada, one-third from Southern California and one third international. About 10% of sales had come from the Middle East, a percentage MGM Mirage and Dubai World hoped to grow this year by launching a sales center in Dubai that opened earlier this year.

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