Vegas mortgage providers to scrutinize CityCenter price rollbacks

The housing market blowup hasn't spared any sectors from its destructive fury here in Las Vegas valley - including Henderson, Anthem, Mountains Edge, Pahrump, Southern Highlands, Summerlin and North Las Vegas. Condos have been spanked as harshly as the single-family houses. Upscale high-rise condominiums on the colorful Strip and elsewhere in the vast valley, thought by some to be above the mess, have absorbed the same unhealthy whipping. No development could hide from it.

CityCenter being built by MGM Mirage, the $8.5 billion luxury mission, also has a large condo component in it, beside the usual elegant casino, convention, hotel and retail offerings. It'll have about 2,400 units in all split between the Vdara, Veer Towers and The Residences at Mandarin Oriental. CityCenter itself will commence opening in stages in December and the condominiums are set to begin closing sales in January.

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