The Signature at MGM Grand
| The Signature at MGM Grand | |
|---|---|
 |
|
| Alternative names | The Residences at MGM Grand The Residences: A Condo Hotel by Turnberry |
| General information | |
| Status | Operating |
| Type | Condo-Hotel |
| Location | Paradise, Nevada |
| Address | 145 East Harmon Avenue |
| Coordinates | 36°06′24″N 115°10′00″W / 36.1068°N 115.1667°WCoordinates: 36°06′24″N 115°10′00″W / 36.1068°N 115.1667°W |
| Groundbreaking | 2004 |
| Construction started | 2004 |
| Opening | May 12, 2006 |
| Owner |
MGM Resorts International Turnberry Associates |
| Management | MGM Grand |
| Technical details | |
| Floor count | 38 |
| Other information | |
| Number of rooms | 1,728 |
| Parking | 400 |
| Website | |
| signaturemgmgrand |
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The Signature at MGM Grand is a condo-hotel at the MGM Grand Las Vegas resort, in Paradise.
It was built by a partnership between MGM Mirage and Turnberry Associates on the location of the former MGM Grand Adventures Theme Park, though it officially holds an off-strip address of 145 East Harmon Avenue. It features three identical 38-story towers, each consisting of 576 fully furnished units.
Most of the condo units were to be privately owned. If a unit owner chooses, he or she may join the “rental program”, placing their units into the hotel's room inventory to be offered as luxury suites by The Signature when they are not occupied by the owner. The owner, minus fees for hotel maintenance, marketing, and upkeep, receives a split of the rental rate of the owner's unit.
545 condo owners brought a fraud lawsuit alleging the Chapter 11 bankruptcy petition by the developers of The Signature Towers at MGM is just a ploy to delay discovery in the case.
On December 20, 2003, MGM Resorts International and Turnberry Associates announced the formation of a partnership to build the luxury condo hotel, stating that they would build up to six towers each rising up to 40 stories. The first phase of this project involved the sales of condo units to individuals and investors. During this phase, the project was referred to as The Residences, The Residences at MGM Grand and/or The Residences: A Condo Hotel by Turnberry. The first tower sold out within 90 days, proving that the concept was well received. The second tower was already 50% sold by the time construction began in late 2004.
In October 2004, The Residences celebrated its ground-breaking, making it the first high-rise condo-hotel project overlooking the strip to begin construction. Other ventures of this type have begun since in Las Vegas, with many of them failing to obtain necessary financing and/or support. On May 12, 2006, the first tower opened for occupancy. The successful opening of The Signature at MGM Grand appears to be aided by its connection to the resources and amenities of The MGM Grand Hotel & Casino.
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