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Related Group Cancels Icon Las Vegas

Even though Las Vegas, Neveda leads the nation in population growth, developers have begun to cancel plans for high-rise residential towers near the Vegas Strip due to rising construction costs and slow sales.

The Related Group of Florida has called off its “Icon Las Vegas” project due to escalating construction costs. The $325 million, 514-unit development, consisted of two 48-story towers. Designed by Arquitectonica, Miami, the 4.5 acre project was nearly sold out when Related Group canceled the project.

Gus Moore heads up Miami Beach 411 as site administrator. You can reach him at 1-305-754-2206.

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