MGM Mirage's proposed City Center is certainly getting off to a good start, following the tremendous success of Mandarin Oriental Las Vegas condo sales, which are the first of four residential developments making up the $7 billion "vertical city" to hit the booming Las Vegas real estate market. Over 90% of the Residences at Mandarin Oriental have already sold since going on the market just two weeks ago.  The sales have exceeded $600 million, which have likewise exceeded the expectations of MGM Mirage management.

Residences still available include several of the high-priced luxurious properties offered through the Mandarin Penthouse collection. These include two and three bedroom penthouses ranging from 2,065 to 4,259 square feet, and with price tags ranging from $3.7 million to $9.1 million. Understandably, this might be too expensive for some people's blood. Two of the three other planned residences within City Center began taking reservations in January and are offering more affordable units.

At last count (as reported by the Las Vegas Sun), the RV Architecture and Rafael Vinoly-designed Vdara Condo Hotel, had taken 700 reservations for its 1,500+ planned units which will go into contract in five days (February 20). The Helmut Jahn-designed Veer Tower has taken over 600 reservations for their 674 planned units, which go into contract in March. As for the fourth planned property - the Harmon Hotel and Residences - these Foster & Partners-designed units are scheduled for release in June. City Center is scheduled for official completion by late 2009.

Anticipated to become the heart of the Las Vegas Strip, City Center is just south of Caesar's Palace - flanked by the Bellagio and Monte Carlo casino resorts - and will be comprised of 2,700 private residences, two 400-room non-casino gambling boutique hotels, a sixty-story 4,000 room casino resort and a 5,000 square foot entertainment, dining and shopping district with a modern, urbanized feel. Those parties  interested in purchasing residences should contact Residential Sales Pavilion at 3780 Las Vegas Boulevard, where full-scale models, interior design options and floor plans can be viewed for three of the planned residences.