The Signature at MGM Grand: Difference between revisions

The Signature at MGM Grand
The Signature at MGM Grand
Alternative names	The Residences at MGM Grand
General information
Status	Operating
Type	Condo-hotel
Location	Paradise, Nevada, U.S.
Address	145 East Harmon Avenue
Coordinates	36°06′24″N 115°10′00″W / 36.1068°N 115.1667°W
Construction started	2004
Opening	May 2006; 18 years ago
Owner	MGM Resorts International
Technical details
Floor count	38
Design and construction
Architecture firm	Bergman Walls & Associates
Developer	Turnberry Associates/MGM Grand Towers LLC
Other information
Number of rooms	1,728
Website
	signaturemgmgrand.com

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Revision as of 23:01, 16 May 2024

The Signature at MGM Grand is a condo-hotel at the MGM Grand resort in Paradise, Nevada, near the Las Vegas Strip. It consists of three towers, each 38 stories in height, with a total of 1,728 units. MGM Mirage and Turnberry Associates partnered to develop the project, which was announced in 2002. Construction was underway in 2004, and the first tower opened in May 2006. The project was built on land previously used by the MGM Grand Adventures Theme Park.

Individual buyers in the project had the option of renting out their unit and splitting the profit with MGM. Starting in 2007, hundreds of buyers filed suit against the property, alleging misleading sales pitches and income that was lower than expected.

History

Part of the property was previously occupied by the MGM Grand Adventures Theme Park, which was built just northeast of the MGM Grand resort; both opened in 1993. On December 5, 2002, MGM Mirage announced that it had partnered with Turnberry Associates to build a condominium and hotel complex on the property, following the closure of the theme park earlier that year. The project was part of an ongoing trend to build luxury condominiums in Las Vegas. Turnberry had previously developed the Turnberry Place condominium project, also located near the Las Vegas Strip.^[1]

Unit sales for the condo-hotel project, known then as The Residences at MGM Grand, began in early 2004.^[2]^[3] The property could accommodate up to six towers,^[2] and the ultimate number of towers was dependent on sales.^[3] A total of three towers was ultimately decided upon.^[4]

Construction of the first tower was underway later in 2004, near the corner of Harmon Avenue and Koval Lane. Construction of the second tower was expected to begin in early 2005.^[5] Excavation for the final tower was underway in September 2005, three months earlier than initially planned. Construction began early after more than half of the tower's 576 units were sold.^[4] The first tower was topped off on October 7, 2005,^[6] and was opened in May 2006.^[7] The second tower was finished later that year,^[8] and the third was scheduled to open in July 2007.^[9]

It was the first condo-hotel to open near the Las Vegas Strip.^[10]^[11] The project was designed by Bergman Walls & Associates.^[12] The tower exteriors feature gold glass,^[13] and each building is 38 stories.^[14] Buyers had the option of renting out their units and splitting the profit with MGM.^[5] Each tower was built with 576 units, and 90 percent of them were expected to be managed by the MGM Grand as condo-hotel units.^[15]

The Signature was built with its own entrance, and it had a staff of bellhop, concierge and valet employees that was separate from the main resort.^[16] Residents had access to the resort's amenities, and a moving walkway connected each tower to the resort.^[10] The Signature property included a pool and a Starbucks.^[17] Eventually, the property also started offering cooking classes with hotel chefs, through 30-minute television programs.^[18]

The project's 1,728 units were largely sold prior to the Great Recession. In 2007, more than 40 buyers filed suit against the property with allegations of misleading sales pitches and income that was lower than expected.^[19]^[20] MGM stated that the poor state of the economy was to blame for low rental rates, while buyers stated that the low rates had started before the economic downturn. By May 2009, the case had grown to nine lawsuits and more than 300 buyers.^[21] Meanwhile, unit prices had dropped 70 percent. Most of the unit sales at that time were resales or repossessions.^[22]

In 2012, a judge ordered that 102 buyers in the case proceed through arbitration.^[23] The project developer, Turnberry/MGM Grand Towers LLC, filed for chapter 11 bankruptcy in 2015. A lawyer for 545 buyers alleged that the bankruptcy filing was an attempt to delay discovery in the ongoing buyer suit.^[24]

Gallery

Construction in 2006
View from East Harmon Avenue
The Signature in 2007
The Signature in 2015

References

^ Simpson, Jeff (December 6, 2002). "MGM Mirage, Turnberry to build luxury condos". Las Vegas Review-Journal. Archived from the original on December 20, 2002.
^ ^a ^b Smith, Hubble (January 19, 2004). "Turnberry begins sales of condos at MGM Grand". Las Vegas Review-Journal. Archived from the original on January 21, 2004.
^ ^a ^b Milhailovich, Steven (January 23, 2004). "MGM is building some Strip 'neighborhood casinos'". Las Vegas Business Press. Archived from the original on January 27, 2004.
^ ^a ^b Smith, Hubble (September 12, 2005). "Work starts early for last Residences tower". Las Vegas Review-Journal. Archived from the original on February 9, 2019. Retrieved October 28, 2020.
^ ^a ^b Smith, Hubble (October 23, 2004). "Plans for high rises plentiful, exec says". Las Vegas Review-Journal. Archived from the original on November 25, 2004.
^ Illia, Tony (October 13, 2005). "Industrial market posts record numbers". Las Vegas Business Press. Archived from the original on April 27, 2006.
^ Smith, Hubble (June 6, 2006). "Broker: Rooms are still needed". Las Vegas Review-Journal. Archived from the original on June 8, 2007.
^ Smith, Hubble (November 14, 2006). "Allure developers thinking even bigger". Las Vegas Review-Journal. Archived from the original on December 19, 2006.
^ "July Opening of The Signature at MGM Grand's Tower 3 Marks Completion of Las Vegas' First Condo Hotel Project". MGM. 2007. Archived from the original on November 23, 2007.
^ ^a ^b Shubinski, Jennifer (January 2, 2006). "Developers offering a new kind of suite deal with condo-hotels". Las Vegas Sun. Archived from the original on March 17, 2017. Retrieved October 28, 2020.
^ Padgett, Sonya (September 10, 2006). "Suite luxury". Las Vegas Review-Journal. Archived from the original on February 9, 2019. Retrieved October 29, 2020.
^ "The Sarno Awards". University of Nevada, Las Vegas. Archived from the original on March 1, 2019. Retrieved October 30, 2020.
^ "Now this is a 'grand' way to live, The Residences give owners Strip views with hotel amenities". Las Vegas Business Press. September 5, 2006. Archived from the original on June 4, 2019. Retrieved October 23, 2020 – via NewsLibrary.
^ "MGM Grand". Emporis. Archived from the original on May 14, 2015. Retrieved October 30, 2020.
^ "MGM Grand to begin taking reservations at The Signature". Las Vegas Review-Journal. February 6, 2006. Archived from the original on February 15, 2006.
^ Van Vechten, Ken (February 26, 2006). "Mini-hotels play the luxury card". Los Angeles Times. Archived from the original on November 1, 2020. Retrieved October 28, 2020.
^ Hamm, Catharine (August 27, 2006). "Feeling grown up at MGM's Signature". Los Angeles Times. Archived from the original on April 22, 2023. Retrieved October 29, 2020.
^ Jones, Jay (November 29, 2010). "Las Vegas: Whip up your own dinner at the Signature at MGM Grand". Los Angeles Times. Archived from the original on November 4, 2020. Retrieved October 30, 2020.
^ O'Reiley, Tim (July 14, 2008). "Housing slide hits home for buyers of condo hotel units". Las Vegas Business Press. Archived from the original on June 29, 2009.
^ "Jeff Simpson explains why he doesn't think Signature towers buyers will win in court". Las Vegas Sun. March 2, 2008. Archived from the original on May 19, 2022. Retrieved October 30, 2020.
^ Benston, Liz (May 15, 2009). "Arbitration or trial? Judges in condo-hotel cases split". Las Vegas Sun. Archived from the original on March 9, 2021. Retrieved October 30, 2020.
^ Stutz, Howard (August 31, 2009). "Strip condo sales 'anemic'". Las Vegas Review-Journal. Archived from the original on November 4, 2020. Retrieved October 30, 2020.
^ O'Reiley, Tim (September 25, 2012). "Signature at MGM condo buyers ordered into arbitration". Las Vegas Review-Journal. Archived from the original on November 4, 2020. Retrieved October 30, 2020.
^ Horne, Robert (July 13, 2015). "Turnberry's bankruptcy merely a ploy, condo owners say". Las Vegas Business Press. Archived from the original on November 3, 2020. Retrieved October 30, 2020.

External links

Official website

[1] Simpson, Jeff (December 6, 2002). "MGM Mirage, Turnberry to build luxury condos". Las Vegas Review-Journal. Archived from the original on December 20, 2002.

[Smith-2] Smith, Hubble (January 19, 2004). "Turnberry begins sales of condos at MGM Grand". Las Vegas Review-Journal. Archived from the original on January 21, 2004.

[LVBP1-3] Milhailovich, Steven (January 23, 2004). "MGM is building some Strip 'neighborhood casinos'". Las Vegas Business Press. Archived from the original on January 27, 2004.

[Last-4] Smith, Hubble (September 12, 2005). "Work starts early for last Residences tower". Las Vegas Review-Journal. Archived from the original on February 9, 2019. Retrieved October 28, 2020.

[Smith2004-5] Smith, Hubble (October 23, 2004). "Plans for high rises plentiful, exec says". Las Vegas Review-Journal. Archived from the original on November 25, 2004.

[6] Illia, Tony (October 13, 2005). "Industrial market posts record numbers". Las Vegas Business Press. Archived from the original on April 27, 2006.

[7] Smith, Hubble (June 6, 2006). "Broker: Rooms are still needed". Las Vegas Review-Journal. Archived from the original on June 8, 2007.

[8] Smith, Hubble (November 14, 2006). "Allure developers thinking even bigger". Las Vegas Review-Journal. Archived from the original on December 19, 2006.

[9] "July Opening of The Signature at MGM Grand's Tower 3 Marks Completion of Las Vegas' First Condo Hotel Project". MGM. 2007. Archived from the original on November 23, 2007.

[Shubinski-10] Shubinski, Jennifer (January 2, 2006). "Developers offering a new kind of suite deal with condo-hotels". Las Vegas Sun. Archived from the original on March 17, 2017. Retrieved October 28, 2020.

[11] Padgett, Sonya (September 10, 2006). "Suite luxury". Las Vegas Review-Journal. Archived from the original on February 9, 2019. Retrieved October 29, 2020.

[12] "The Sarno Awards". University of Nevada, Las Vegas. Archived from the original on March 1, 2019. Retrieved October 30, 2020.

[13] "Now this is a 'grand' way to live, The Residences give owners Strip views with hotel amenities". Las Vegas Business Press. September 5, 2006. Archived from the original on June 4, 2019. Retrieved October 23, 2020 – via NewsLibrary.

[14] "MGM Grand". Emporis. Archived from the original on May 14, 2015. Retrieved October 30, 2020.

[15] "MGM Grand to begin taking reservations at The Signature". Las Vegas Review-Journal. February 6, 2006. Archived from the original on February 15, 2006.

[16] Van Vechten, Ken (February 26, 2006). "Mini-hotels play the luxury card". Los Angeles Times. Archived from the original on November 1, 2020. Retrieved October 28, 2020.

[17] Hamm, Catharine (August 27, 2006). "Feeling grown up at MGM's Signature". Los Angeles Times. Archived from the original on April 22, 2023. Retrieved October 29, 2020.

[18] Jones, Jay (November 29, 2010). "Las Vegas: Whip up your own dinner at the Signature at MGM Grand". Los Angeles Times. Archived from the original on November 4, 2020. Retrieved October 30, 2020.

[19] O'Reiley, Tim (July 14, 2008). "Housing slide hits home for buyers of condo hotel units". Las Vegas Business Press. Archived from the original on June 29, 2009.

[20] "Jeff Simpson explains why he doesn't think Signature towers buyers will win in court". Las Vegas Sun. March 2, 2008. Archived from the original on May 19, 2022. Retrieved October 30, 2020.

[21] Benston, Liz (May 15, 2009). "Arbitration or trial? Judges in condo-hotel cases split". Las Vegas Sun. Archived from the original on March 9, 2021. Retrieved October 30, 2020.

[22] Stutz, Howard (August 31, 2009). "Strip condo sales 'anemic'". Las Vegas Review-Journal. Archived from the original on November 4, 2020. Retrieved October 30, 2020.

[23] O'Reiley, Tim (September 25, 2012). "Signature at MGM condo buyers ordered into arbitration". Las Vegas Review-Journal. Archived from the original on November 4, 2020. Retrieved October 30, 2020.

[24] Horne, Robert (July 13, 2015). "Turnberry's bankruptcy merely a ploy, condo owners say". Las Vegas Business Press. Archived from the original on November 3, 2020. Retrieved October 30, 2020.

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@@ Line 1: / Line 1: @@
+{{Short description|Condo-hotel at the MGM Grand resort in Paradise, Nevada, near the Las Vegas Strip}}
-{{RefImprove|date=July 2016}}
 {{Infobox hotel
 | hotel_name         = The Signature at MGM Grand
-|alternate_name= The Residences at MGM Grand <br>The Residences: A Condo Hotel by Turnberry
+|alternate_name      = The Residences at MGM Grand
-|building_type=Condo-Hotel
+|building_type       = [[Condo-hotel]]
-| logo               =
+| status             = Operating
+| logo               = The_Signature_at_MGM_Gand_logo.svg
-|status=Operating
-| logo_width         =
 | logo_caption       =
-| image              = The signature at mgm grand 2007.jpg
+| image              = The Signature at MGM Grand, Las Vegas.jpg
 | image_width        =
 | caption            =
-| location           = [[Paradise, Nevada]]
+| location           = [[Paradise, Nevada|Paradise]], [[Nevada]], [[United States|U.S.]]
 | address            = 145 East Harmon Avenue
 | coordinates        = {{coord|36.1068|-115.1667|format=dms|type:landmark_region:US-NV|display=inline,title}}
-| groundbreaking_date = 2004
+| groundbreaking_date =
-| start_date =  2004
+| start_date         =  2004
-| topped_out_date =
+| topped_out_date    =
-| opening_date       =  May 12, 2006
+| opening_date       = {{Start date and age|May 2006}}
-| developer          =
+| developer          = [[Turnberry Associates]]/MGM Grand Towers LLC
+| architecture_firm  = [[Joel Bergman|Bergman Walls & Associates]]
-| architect          =
-| operator           =[[MGM Grand Las Vegas|MGM Grand]]
+| operator           =
-| owner              = [[MGM Resorts International]]<br>[[Turnberry Associates]]<ref>http://www.turnberry.com/portfolio/residential/our-properties/residences-at-mgm-grand</ref>
+| owner              = [[MGM Resorts International]]
 | number_of_rooms    = 1,728
 | number_of_suites   =
@@ Line 28: / Line 27: @@
 | floors             = 38
 | height             =
-| parking            = 400
+| parking            =
 | website            = {{URL|signaturemgmgrand.com}}
 | footnotes          =
 }}
-'''The Signature at MGM Grand''' is a [[condo-hotel]] at the [[MGM Grand Las Vegas]] resort, in [[Paradise, Nevada|Paradise]].
+'''The Signature at MGM Grand''' is a [[condo-hotel]] at the [[MGM Grand Las Vegas|MGM Grand]] resort in [[Paradise, Nevada]], near the [[Las Vegas Strip]]. It consists of three towers, each 38 stories in height, with a total of 1,728 units. [[MGM Resorts International|MGM Mirage]] and [[Turnberry Associates]] partnered to develop the project, which was announced in 2002. Construction was underway in 2004, and the first tower opened in May 2006. The project was built on land previously used by the [[MGM Grand Adventures Theme Park]].
+Individual buyers in the project had the option of renting out their unit and splitting the profit with MGM. Starting in 2007, hundreds of buyers filed suit against the property, alleging misleading sales pitches and income that was lower than expected.
-It was built by a [[partnership]] between [[MGM Resorts International|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 [[tower]]s, each consisting of 576 fully [[Furnishing|furnished]] units.
+== History ==
-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 [[Suite (hotel)|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.
+Part of the property was previously occupied by the [[MGM Grand Adventures Theme Park]], which was built just northeast of the [[MGM Grand Las Vegas|MGM Grand]] resort; both opened in 1993. On December 5, 2002, [[MGM Resorts International|MGM Mirage]] announced that it had partnered with [[Turnberry Associates]] to build a condominium and hotel complex on the property, following the closure of the theme park earlier that year. The project was part of an ongoing trend to build luxury [[List of condominiums in Las Vegas|condominiums in Las Vegas]]. Turnberry had previously developed the [[Turnberry Place]] condominium project, also located near the [[Las Vegas Strip]].<ref>{{cite web |url= http://www.reviewjournal.com/lvrj_home/2002/Dec-06-Fri-2002/business/20217908.html|title= MGM Mirage, Turnberry to build luxury condos|last= Simpson|first= Jeff|date= December 6, 2002|work= Las Vegas Review-Journal|archive-url= https://web.archive.org/web/20021220085315/http://www.reviewjournal.com/lvrj_home/2002/Dec-06-Fri-2002/business/20217908.html|archive-date= December 20, 2002}}</ref>
+Unit sales for the [[condo-hotel]] project, known then as The Residences at MGM Grand, began in early 2004.<ref name=Smith>{{cite news |last=Smith |first=Hubble |title=Turnberry begins sales of condos at MGM Grand |url=http://www.reviewjournal.com/lvrj_home/2004/Jan-19-Mon-2004/business/22984446.html |work=Las Vegas Review-Journal |date=January 19, 2004 |archive-url=https://web.archive.org/web/20040121030120/http://www.reviewjournal.com/lvrj_home/2004/Jan-19-Mon-2004/business/22984446.html |archive-date=January 21, 2004}}</ref><ref name=LVBP1>{{cite news |last=Milhailovich |first=Steven |title=MGM is building some Strip 'neighborhood casinos' |url=http://www.lvbusinesspress.com:80/articles/2004/01/23/columnists/col02.txt |work=Las Vegas Business Press |date=January 23, 2004 |archive-url=https://web.archive.org/web/20040127021409/http://www.lvbusinesspress.com:80/articles/2004/01/23/columnists/col02.txt |archive-date=January 27, 2004}}</ref> The property could accommodate up to six towers,<ref name=Smith/> and the ultimate number of towers was dependent on sales.<ref name=LVBP1/> A total of three towers was ultimately decided upon.<ref name=Last>{{cite news |last=Smith |first=Hubble |title=Work starts early for last Residences tower |url=http://nl.newsbank.com/sites/lvrb/ |access-date=October 28, 2020 |work=Las Vegas Review-Journal |date=September 12, 2005 |url-access=subscription |archive-date=February 9, 2019 |archive-url=https://web.archive.org/web/20190209232400/http://nl.newsbank.com/sites/lvrb/ |url-status=live }}</ref>
-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.<ref>http://businesspress.vegas/real-estate/turnberry-s-bankruptcy-merely-ploy-condo-owners-say</ref>
+Construction of the first tower was underway later in 2004, near the corner of Harmon Avenue and Koval Lane. Construction of the second tower was expected to begin in early 2005.<ref name=Smith2004/> Excavation for the final tower was underway in September 2005, three months earlier than initially planned. Construction began early after more than half of the tower's 576 units were sold.<ref name=Last/> The first tower was [[Topping out|topped off]] on October 7, 2005,<ref>{{cite news |last=Illia |first=Tony |title=Industrial market posts record numbers |url=http://www.lvbusinesspress.com:80/articles/2005/10/13/news/news06.txt |work=Las Vegas Business Press |date=October 13, 2005 |archive-url=https://web.archive.org/web/20060427150028/http://www.lvbusinesspress.com:80/articles/2005/10/13/news/news06.txt |archive-date=April 27, 2006}}</ref> and was opened in May 2006.<ref>{{cite news |last=Smith |first=Hubble |title=Broker: Rooms are still needed |url=http://www.reviewjournal.com/lvrj_home/2006/Jun-06-Tue-2006/business/7797251.html |work=Las Vegas Review-Journal |date=June 6, 2006 |archive-url=https://web.archive.org/web/20070608102415/http://www.reviewjournal.com/lvrj_home/2006/Jun-06-Tue-2006/business/7797251.html |archive-date=June 8, 2007}}</ref> The second tower was finished later that year,<ref>{{cite news|last=Smith|first=Hubble|title=Allure developers thinking even bigger|url=http://www.reviewjournal.com/lvrj_home/2006/Nov-14-Tue-2006/business/10809486.html|work=Las Vegas Review-Journal|date=November 14, 2006|archive-url=https://web.archive.org/web/20061219140706/http://www.reviewjournal.com/lvrj_home/2006/Nov-14-Tue-2006/business/10809486.html|archive-date=December 19, 2006}}</ref> and the third was scheduled to open in July 2007.<ref>{{cite web |title=July Opening of The Signature at MGM Grand's Tower 3 Marks Completion of Las Vegas' First Condo Hotel Project |url=http://www.mgmgrand.com/press_room/press_room_releases_template.aspx?ID=173 |website=MGM |archive-url=https://web.archive.org/web/20071123205227/http://www.mgmgrand.com/press_room/press_room_releases_template.aspx?ID=173 |archive-date=November 23, 2007 |date=2007}}</ref>
-== History ==
-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.
+It was the first condo-hotel to open near the Las Vegas Strip.<ref name=Shubinski>{{cite news |last=Shubinski |first=Jennifer |title=Developers offering a new kind of suite deal with condo-hotels |url=https://lasvegassun.com/news/2006/jan/02/developers-offering-a-new-kind-of-suite-deal-with-/ |access-date=October 28, 2020 |work=Las Vegas Sun |date=January 2, 2006 |archive-date=March 17, 2017 |archive-url=https://web.archive.org/web/20170317060503/https://lasvegassun.com/news/2006/jan/02/developers-offering-a-new-kind-of-suite-deal-with-/ |url-status=live }}</ref><ref>{{cite news |last=Padgett |first=Sonya |title=Suite luxury |url=http://nl.newsbank.com/sites/lvrb/ |access-date=October 29, 2020 |work=Las Vegas Review-Journal |date=September 10, 2006 |url-access=subscription |archive-date=February 9, 2019 |archive-url=https://web.archive.org/web/20190209232400/http://nl.newsbank.com/sites/lvrb/ |url-status=live }}</ref> The project was designed by [[Joel Bergman|Bergman Walls & Associates]].<ref>{{cite web |title=The Sarno Awards |url=https://gaming.unlv.edu/sarnoawards/bergman.html |website=[[University of Nevada, Las Vegas]] |access-date=October 30, 2020 |archive-date=March 1, 2019 |archive-url=https://web.archive.org/web/20190301160834/https://gaming.unlv.edu/sarnoawards/bergman.html |url-status=live }}</ref> The tower exteriors feature gold glass,<ref>{{cite news |title=Now this is a 'grand' way to live, The Residences give owners Strip views with hotel amenities |url=https://nl.newsbank.com/ |website=Las Vegas Business Press |access-date=October 23, 2020 |date=September 5, 2006 |url-access=subscription |via=NewsLibrary |archive-date=June 4, 2019 |archive-url=https://web.archive.org/web/20190604174101/http://nl.newsbank.com/ |url-status=live }}</ref> and each building is 38 stories.<ref>{{cite web |title=MGM Grand |url=https://www.emporis.com/complex/104394/mgm-grand-las-vegas-nv-usa |archive-url=https://web.archive.org/web/20150514170203/http://www.emporis.com/complex/104394/mgm-grand-las-vegas-nv-usa |url-status=dead |archive-date=May 14, 2015 |website=[[Emporis]] |access-date=October 30, 2020}}</ref> Buyers had the option of renting out their units and splitting the profit with MGM.<ref name=Smith2004>{{cite news |last=Smith |first=Hubble |title=Plans for high rises plentiful, exec says |url=http://www.reviewjournal.com/lvrj_home/2004/Oct-23-Sat-2004/business/25042460.html |work=Las Vegas Review-Journal |date=October 23, 2004 |archive-url=https://web.archive.org/web/20041125095759/http://www.reviewjournal.com/lvrj_home/2004/Oct-23-Sat-2004/business/25042460.html |archive-date=November 25, 2004}}</ref> Each tower was built with 576 units, and 90 percent of them were expected to be managed by the MGM Grand as condo-hotel units.<ref>{{cite news |title=MGM Grand to begin taking reservations at The Signature |url=http://www.reviewjournal.com/lvrj_home/2006/Feb-06-Mon-2006/business/5709239.html |work=Las Vegas Review-Journal |date=February 6, 2006 |archive-url=https://web.archive.org/web/20060215201637/http://www.reviewjournal.com/lvrj_home/2006/Feb-06-Mon-2006/business/5709239.html |archive-date=February 15, 2006}}</ref>
-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 [[MGM Grand Las Vegas|The MGM Grand Hotel & Casino]].
+The Signature was built with its own entrance, and it had a staff of bellhop, concierge and valet employees that was separate from the main resort.<ref>{{cite news |last=Van Vechten |first=Ken |title=Mini-hotels play the luxury card |url=https://www.latimes.com/archives/la-xpm-2006-feb-26-tr-vegashotels26-story.html |access-date=October 28, 2020 |work=Los Angeles Times |date=February 26, 2006 |archive-date=November 1, 2020 |archive-url=https://web.archive.org/web/20201101073005/https://www.latimes.com/archives/la-xpm-2006-feb-26-tr-vegashotels26-story.html |url-status=live }}</ref> Residents had access to the resort's amenities, and a [[moving walkway]] connected each tower to the resort.<ref name=Shubinski/> The Signature property included a pool and a [[Starbucks]].<ref>{{cite news |last=Hamm |first=Catharine |title=Feeling grown up at MGM's Signature |url=https://www.latimes.com/archives/la-xpm-2006-aug-27-tr-sleepover27-story.html |access-date=October 29, 2020 |work=Los Angeles Times |date=August 27, 2006 |archive-date=April 22, 2023 |archive-url=https://web.archive.org/web/20230422020008/https://www.latimes.com/archives/la-xpm-2006-aug-27-tr-sleepover27-story.html |url-status=live }}</ref> Eventually, the property also started offering cooking classes with hotel chefs, through 30-minute television programs.<ref>{{cite news |last=Jones |first=Jay |title=Las Vegas: Whip up your own dinner at the Signature at MGM Grand |url=https://www.latimes.com/archives/la-xpm-2010-nov-29-la-trb-mgm-grand-cooking-class-20101129-story.html |access-date=October 30, 2020 |work=Los Angeles Times |date=November 29, 2010 |archive-date=November 4, 2020 |archive-url=https://web.archive.org/web/20201104211119/https://www.latimes.com/archives/la-xpm-2010-nov-29-la-trb-mgm-grand-cooking-class-20101129-story.html |url-status=live }}</ref>
-==Amenities==
-Each tower has a private pool with a [[Hot Tub|hot tub]]. Tower 1 has a cocktail lounge. Towers 1 and 3 have a workout room for the guests of all three towers. [[Starbucks]] is available at Tower 1.   Signature guests have full access to all MGM Grand amenities as well.
+The project's 1,728 units were largely sold prior to the [[Great Recession]]. In 2007, more than 40 buyers filed suit against the property with allegations of misleading sales pitches and income that was lower than expected.<ref>{{cite news |last=O'Reiley |first=Tim |title=Housing slide hits home for buyers of condo hotel units |url=http://www.lvbusinesspress.com:80/articles/2008/07/14/news/iq_22623426.txt |work=Las Vegas Business Press |date=July 14, 2008 |archive-url=https://web.archive.org/web/20090629103920/http://www.lvbusinesspress.com:80/articles/2008/07/14/news/iq_22623426.txt |archive-date=June 29, 2009}}</ref><ref>{{cite news |title=Jeff Simpson explains why he doesn't think Signature towers buyers will win in court |url=https://lasvegassun.com/news/2008/mar/02/jeff-simpson-explains-why-he-doesnt-think-signatur/ |access-date=October 30, 2020 |work=Las Vegas Sun |date=March 2, 2008 |archive-date=May 19, 2022 |archive-url=https://web.archive.org/web/20220519141753/https://lasvegassun.com/news/2008/mar/02/jeff-simpson-explains-why-he-doesnt-think-signatur/ |url-status=live }}</ref> MGM stated that the poor state of the economy was to blame for low rental rates, while buyers stated that the low rates had started before the economic downturn. By May 2009, the case had grown to nine lawsuits and more than 300 buyers.<ref>{{cite news |last=Benston |first=Liz |title=Arbitration or trial? Judges in condo-hotel cases split |url=https://lasvegassun.com/news/2009/may/15/condo-buyers-lawsuits-pivot-fine-print-contracts/ |access-date=October 30, 2020 |work=Las Vegas Sun |date=May 15, 2009 |archive-date=March 9, 2021 |archive-url=https://web.archive.org/web/20210309131650/https://lasvegassun.com/news/2009/may/15/condo-buyers-lawsuits-pivot-fine-print-contracts/ |url-status=live }}</ref> Meanwhile, unit prices had dropped 70 percent. Most of the unit sales at that time were resales or repossessions.<ref>{{cite news |last=Stutz |first=Howard |title=Strip condo sales 'anemic' |url=https://www.reviewjournal.com/business/business-columns/inside-gaming/strip-condo-sales-anemic/ |access-date=October 30, 2020 |work=Las Vegas Review-Journal |date=August 31, 2009 |archive-date=November 4, 2020 |archive-url=https://web.archive.org/web/20201104083856/https://www.reviewjournal.com/business/business-columns/inside-gaming/strip-condo-sales-anemic/ |url-status=live }}</ref>
-== Access To The MGM Casino==
-The Signature is connected to the main [[MGM Grand Las Vegas|MGM Grand Casino]] via several [[moving walkway]]s that traverse through two of the 3 towers (Tower 1 & 2). Tower 3 is accessible via a hallway between tower 2 and 3. Time to the main casino to the furthest tower (Tower 3) is about 8 minutes for the average walker.
+In 2012, a judge ordered that 102 buyers in the case proceed through [[arbitration]].<ref>{{cite news |last=O'Reiley |first=Tim |title=Signature at MGM condo buyers ordered into arbitration |url=https://www.reviewjournal.com/crime/courts/signature-at-mgm-condo-buyers-ordered-into-arbitration/ |access-date=October 30, 2020 |work=Las Vegas Review-Journal |date=September 25, 2012 |archive-date=November 4, 2020 |archive-url=https://web.archive.org/web/20201104032535/https://www.reviewjournal.com/crime/courts/signature-at-mgm-condo-buyers-ordered-into-arbitration/ |url-status=live }}</ref> The project developer, Turnberry/MGM Grand Towers LLC, filed for [[chapter 11 bankruptcy]] in 2015. A lawyer for 545 buyers alleged that the bankruptcy filing was an attempt to delay [[Discovery (law)|discovery]] in the ongoing buyer suit.<ref>{{cite news |last=Horne |first=Robert |title=Turnberry's bankruptcy merely a ploy, condo owners say |url=https://businesspress.vegas/real-estate/turnberrys-bankruptcy-merely-a-ploy-condo-owners-say/ |access-date=October 30, 2020 |work=Las Vegas Business Press |date=July 13, 2015 |archive-date=November 3, 2020 |archive-url=https://web.archive.org/web/20201103211600/https://businesspress.vegas/real-estate/turnberrys-bankruptcy-merely-a-ploy-condo-owners-say/ |url-status=live }}</ref>
-==Parking==
-There is no self parking on the Signature property, all parking is by [[Valet Parking|valet]] (free.)  Each tower has valet parking on the ground level.
 == Gallery ==
 <gallery>
-File:Harmon Ave East (4068013854).jpg|Harmon Ave East
+File:Signaturelasvegas.jpg|Construction in 2006
+File:Harmon Ave East (4068013854).jpg|View from East Harmon Avenue
-File:The Signature at MGM Grand, Las Vegas.jpg|The Signature at MGM Grand, Las Vegas
-File:The Signature at MGM Grand Tower III.jpg|File:The Signature at MGM Grand Tower
+File:The signature at mgm grand 2007.jpg|The Signature in 2007
+File:The Signature at MGM Grand Tower III.jpg|The Signature in 2015
 </gallery>
@@ Line 65: / Line 62: @@
 {{Reflist}}
-== External links ==
+==External links==
+{{Commons category}}
-* [http://www.signaturemgmgrand.com/ The Signature at MGM Grand official site]
+* [http://www.signaturemgmgrand.com/ Official website]
-{{Commons category|position=left}}
-{{Clear}}
 {{Las Vegas hotels}}
 {{Las Vegas skyscrapers}}
+{{MGM Resorts International}}
+{{Las Vegas residential}}
 {{DEFAULTSORT:Signature at MGM Grand, The}}
+[[Category:2006 establishments in Nevada]]
 [[Category:Condo hotels in the United States]]
-[[Category:Skyscraper hotels in the Las Vegas Valley]]
-[[Category:Buildings and structures in Paradise, Nevada]]
-[[Category:MGM Resorts International]]
 [[Category:Hotels established in 2006]]
 [[Category:Residential buildings completed in 2006]]
-[[Category:Residential skyscrapers in the Las Vegas metropolitan area]]
+[[Category:Residential skyscrapers in the Las Vegas Valley]]
+[[Category:Skyscraper hotels in Paradise, Nevada]]
+[[Category:MGM Grand Las Vegas]]
+[[Category:MGM Resorts International]]

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