Tuesday, January 21, 2003
Copyright © Las Vegas Review-Journal

MGM Mirage opposes proposed time share

The Clark County Board of Commissioners is expected to vote Wednesday on a proposed 54-story time share condominium to be built next to the Showcase mall on the Strip.

The project faces opposition from MGM Mirage, which has partnered with Turnberry Associates to build its own high-rise condominium on MGM Grand property.

Alan Feldman, spokesman for MGM Mirage, said his company has concerns about parking and setback requirements.

"It's far too large a project on far too small of a property," Feldman said.

Westgate Resorts, a Florida-based time share company that owns and operates the Westgate Flamingo Bay resort on Flamingo Road, plans to build 700 luxury villas on about an acre.

Feldman said the difference between MGM's project and this one is the size and scope of the projects.

"We have ample parking as required by code and we have the proper setback," he said.

Cindy Williams, spokeswoman for Westgate, said the parking situation is fine with a 12-floor parking deck that connects to the tower.

"I know these guys are willing to do whatever the County Commission wants to get this project done," she said. "We have to meet their concerns."

Westgate purchased the rights to develop the $180 million resort project from FCM Ventures, a joint venture of Makena Entertainment and Forest City Enterprises.

David Siegel, president and chief executive officer of Westgate, said the new property would generate more than $500 million in construction costs, sales and marketing commissions, operations and salaries over the next five years and create about 1,000 jobs.

A study by Ragatz Associates of time share owners in Las Vegas, Reno and Atlantic City shows that average spending for a time share traveling party is $1,979, compared with $652 for gambling parties not staying in time shares.

"Our owners stay longer and spend much more in the local economy than the average hotel guest," Siegel said in a statement.