Park Towers (Las Vegas)
| Park Towers | |
|---|---|
| General information | |
| Status | Complete |
| Type | Condominiums |
| Address | 1 Hughes Center Drive |
| Town or city | Paradise, Nevada |
| Country | United States |
| Coordinates | 36°06′58″N 115°09′32″W / 36.116095°N 115.158865°WCoordinates: 36°06′58″N 115°09′32″W / 36.116095°N 115.158865°W |
| Construction started | 1999 |
| Completed | 2001 |
| Cost | $120 million |
| Technical details | |
| Floor count | 20 |
| Design and construction | |
| Architecture firm | JMA Architecture Studios |
| Developer | High Rise JV LLC |
| Main contractor | J.A. Jones Construction. |
| Other information | |
| Number of units | 84 |
| Website | |
| Official website | |
Park Towers is a 20-story twin-tower condominium property located east of the Las Vegas Strip, in Paradise, Nevada. The project was announced in 1998, and began construction the following year. The property was developed by Irwin Molasky and Steve Wynn, and was completed in 2001.
The project was announced by developer Irwin Molasky in March 1998, as The Park at Hughes Center. Within a year, the project had been renamed as Park Towers. The project was planned as a $100 million, two-tower condominium project with 84 units; between 30 and 40 percent of the units were already sold out as of February 1999. The project was to be developed by Irwin Molasky and Mark Fine, along with Molasky's three sons, Steven, Andrew and Alan Molasky. The project would be built on 3.8 acres (1.5 ha) of land at the Hughes Center business park on Howard Hughes Parkway, near Flamingo Road and Paradise Road, east of the Las Vegas Strip.
Groundbreaking was originally scheduled for fall 1998, but was delayed until April 1999, with construction expected to take 15 months to two years. By July 1999, Steve Wynn had become a developer and designer in the project. Wynn had also purchased a $4 million Park Towers penthouse for himself and his wife, Elaine Wynn. Irwin Molasky stated that Wynn "helped with the design and placement" of the project.
In September 1999, it was announced that French bank Société Générale, as well as the Bank of Nova Scotia, would provide $70 million in construction financing to the project, which was expected to cost $120 million. Construction was scheduled to begin that month, with completion expected in the fourth quarter of 2000. Site preparation was 95-percent complete. In February 2000, construction was scheduled for completion that September. The project's website featured 24-hour camera footage recording the towers' construction. Planned for the property were elevators that would not move before scanning each resident's security card.
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Wikipedia