The still unopened Harmon Hotel, a 27-story centerpiece of the now financially hemorrhaging CityCenter development in Las Vegas, is being targeted for demolition. MGM Resorts International, owner of the troubled 67-acre complex that includes the hotel designed by U.K. “starchitect” Sir Norman Foster, recently unveiled plans to raze it. MGM took a $279-million write-down in the third quarter on the building, which sits dormant with a sign wrapped around its gleaming glass façade for the resort’s “Viva Elvis” show. Harmon may be the world’s most expensive billboard. Photo: Tony Illia Las Vegas hotel-condo was designed by famed U.K. architect Sir
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.