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Las Vegas Strip Construction - The Disaster and Fear of 2008!
There's even more of it in the media these days, the gloom and doom of Las Vegas. Any cancelled or delayed Las Vegas Strip project making big headlines. I even had a post comment the other day referring to the awful mess of the Echelon project being put on hold, and while not on the Strip, Lake Las Vegas operating in Chapter 11. Without a doubt these aren't the best of times and a recovery from the financial meltdown still needed. But is this really disaster, or looking at Las Vegas only with a 'glass half-full' perspective guided by these negative news stories?
Bankruptcies, delays, and project cancellations are nothing new. They've happened when the economy is churning along at a good clip. Just a few years ago during the boom years, Las Vegas major construction projects were announced by the dozens and dozens. Some never made it further than the announcement, others were cancelled after sales began, but then it hardly spelled disaster.
Beginning in 1990 the Stratosphere Tower construction was on-again, off-again, taking it nearly 5 years and requiring an equity partner to come on board along the way to finish it. I see the completed product ... more
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