The constantly expanding high-rise condo market in Las Vegas will gain another player. The Palms announced plans on Wednesday to add a 50-story luxury tower that will provide additional romping room for the property’s celebrity clientele. Palms developer George Maloof said the residential project is part of a $600 million expansion at the 4-year-old property. Already under construction is a 40-story hotel tower that will have 347 rooms and suites along with entertainment offerings, two new restaurants, a 2,200-seat showroom, and an 8,000-square-foot recording studio. The 34-acre site on West Flamingo Road will eventually encompass 1,300 rooms in three towers once the current expansion is completed. Las Vegas real estate gets another boost from a casino company that looks to combine additional hotel rooms with high-rise condo units for sale. Through the Maloof family’s network of Palms customers, including sports figures, actors and actresses, recording artists and other celebrities, sales have been brisk. The units are priced from $500,000 to $7 million.

This entry was posted by Michelle Sterling on Thursday, March 3rd, 2005 at 8:40 pm and is filed under Hise Rise Condos, The Strip. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.