CityCenter, the still-under-construction megaresort on the Las Vegas Strip, faces mounting challenges in reaching completion. The project, touted as the nation’s largest privately funded development, has tried unsuccessfully for months to obtain a $1.2-billion loan to finance the final leg of construction. Now its partners are fighting in court. The $9.2-billion CityCenter, which includes 19 million sq ft of hotels, homes and entertainment space, broke ground three years ago. On March 23, project partner Dubai World, a conglomerate owned by the Dubai government, sued developer MGM Mirage in Delaware Chancery Court. The timing couldn’t be worse: MGM Mirage is cash-strapped
Progress on two major European skyscrapers may not represent the green shoots of economic recovery, but they help lighten the gloom. In London, pile work is just starting on the 310- meter-tall “Shard,” planned as Europe’s second-tallest building. Elsewhere, workers in Frankfurt are beginning to mobilize the planned Tower 185. Photo: London Bridge Quarter Ltd. Celtic Crossing. Suspension bridge will maintain a context-sensitive profile. Related Links: London Shard Tower Rises From Gloom Photo: Viveco Real Estate With Middle Eastern backing, London Bridge Quarter Ltd. recently signed a construction contract with London-based Mace Ltd. for the estimated $1.5-billion riverside development, including
Will the deepening recession and skittish lending environment find their next victim in CityCenter? The Las Vegas development faces mounting challenges in reaching completion. The project, touted as the nation's largest privately funded development, has been trying unsuccessfully for months to secure a $1.2-billion loan needed to finance the final leg of construction. Majority Leader Sen. Harry Reid (D-Nev.) and Sen. John Ensign (R-Nev.) have reportedly made calls to banks on the project's behalf. The $9.2-billion resort complex was scheduled to open in December. On Mar. 23, however, developer MGM Mirage was slapped with a lawsuit by project partner Dubai
Preliminary design of the world’s longest sunken tube tunnel is to begin following a recent contract award covering the roughly 30-km Hong Kong-Zhuhai-Macao fixed highway sea link, China. At 5.6-km, the tunnel will be some 2-km longer than the current record holder, on the Denmark-Sweden Øresund crossing, according to the Scandinavian tunnel’s designer, Copenhagen-based Cowi A.S. Cowi is also in the design consortium just hired by the Chinese government, which includes the Hong Kong office of Arup Group, Chinese Highway Plan and Design Institute Ltd. and Shanghai Tunnel and Design Institute. The link will be elevated for 22.8-km and include
With no prospect of quick action on a multi-year Federal Aviation Administration bill, the House has approved another in a series of extensions for FAA programs, including the agency's Airport Improvement Program construction grants. The measure, which extends funding authority and aviation user fees through Sept. 30, was approved on March 18 by voice vote. The next step is action by the Senate. Enactment of the extension is needed by March 31, when the current FAA extension lapses.
The U.S. Dept. of Transportation has formally committed $900 million to help construct the first phase of the Silver Line, a 23-mile extension of Washington, D.C.’s Metrorail system to Dulles International Airport in Virginia. The funding, which has been closely scrutinized due to concerns about the $5.2-billion project’s schedule and cost, allows the Metropolitan Washington Airports Authority (MWAA) to move ahead with the initial $3.1-billion, 11.6-mile above-ground segment from the existing East Falls Church Station to Wiehle Road in Reston, Va. Dulles Transit Partners, the design-build consortium owned by Bechtel Infrastructure Inc. and Washington Group International, expects that phase to
The $527-million new South Ferry subway station at Manhattan’s southern tip opened on March 16, with platforms now long enough to accommodate 10-car trains rather than five. The 4.5-year-long project included a $261-million design-build contract, held by a joint venture of Schiavone Construction Co., Secaucus, N.J., and Granite Halmar Construction Co. Inc., Tarrytown, N.Y., for the reinforced-concrete structural box, which accommodates a 1,200-ft-long approach tunnel and the 500-ft-long new station. Photo: MTA/Patrivck Cashin
A U.S.-led joint venture that includes AECOM Technology Corp., Los Angeles, and CH2M Hill Cos., Denver, won an estimated $140-million program management contract for London’s vast new Crossrail project. The JV beat two other short-listed teams headed by Bechtel Ltd. and Parsons Brinckerhoff Ltd. The project cost has been estimated at $22 billion. The winning team, called Transcend, will “work alongside [us] as part of an integrated client team to manage the overall program,” says Steve Rowsell, head of procurement for project owner Cross London Rail Links Ltd. The Transcend team also includes U.K.-based Nichols Group Ltd. Primary project construction
The Environmental Protection Agency on March 12 announced that it will funnel $297 million in stimulus aid to three northwestern states, Alaska and tribal governments for clean water projects. The funds are the first installment of the American Recovery and Reinvestment Act funding to come from the EPA. The individual amounts directed to Alaska, Oregon, Washington and tribal governments will be delivered via existing programs: the Clean Water State Revolving Fund, the Drinking Water State Revolving Fund, and the Tribal clean Water & Drinking Water Set-Aside programs. Alaska will receive $43 million, Idaho will receive $39 million, Oregon will receive
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