The Signature at MGM Grand

From Wikipedia, the free encyclopedia

Facts and statistics
The Signature at MGM Grand


Address	145 East Harmon Avenue Las Vegas, Nevada 89109
Opening date	May 12, 2006
Previous names	The Residences
Casino type	Private-owned suites
Theme	Art Deco
Owner	MGM Mirage
No. of rooms	576 per tower, 1728 total by 2007
Total gaming space	None
Permanent shows	None
Signature attractions	Utilizes MGM Grand attractions
Notable restaurants	In-suite dining, Starbucks
Years renovated	Second tower (December 2006) Third tower (May 2007)
Website	The Signature at MGM Grand

The Signature at MGM Grand is a condo-hotel built by a partnership between MGM Mirage and Turnberry Associates on the location of MGM Grand's closed theme park. When fully completed it will feature three identical 38-story towers consisting of 576 fully furnished units each. Most of the condo units will be privately owned. If a unit owner chooses, he or she may join the “rental program”. This places their units into the hotel's room inventory to be used as luxury suites by The Signature when they are not occupied by the owner. The owner, minus fees for hotel maintenance, marketing, and upkeep, receives a split of the rental rate of the owner's unit.

[edit] The Residences

On December 20, 2003, MGM Mirage and Turnberry Associates announced the formation of a partnership to build a luxury condo hotel, stating that they would build up to six towers each rising up to forty stories. The first phase of this project involved the sales of condo units to individuals and investors. During this phase, the project was referred to as The Residences, The Residences at MGM Grand and/or The Residences: A Condo Hotel by Turnberry. The first tower sold out within 90 days, proving that the concept was well-received. The second tower was already fifty percent sold by the time construction began in late 2004.

In October, 2004 The Residences celebrated its ground-breaking, making it the first high-rise condo-hotel project overlooking the strip to begin construction. Other ventures of this type have begun since in Las Vegas, with many of them failing to obtain necessary financing and/or support. On May 12, 2006, the first tower opened for occupancy. The successful opening of The Signature at MGM Grand appears to be aided by its connection to the resources and amenities of The MGM Grand Hotel & Casino.