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Aria Resort and Casino is a luxury resort and casino, and the primary property at the CityCenter complex, located on the Las Vegas Strip in Paradise, Nevada. It is owned by The Blackstone Group and operated by MGM Resorts International. Construction began on June 25, 2006, with a design by Pelli Clarke Pelli Architects.
Prior to purchasing the Aria Building Oller was the founder and CEO of The Wentworth Group, The largest property management company in the United States. The Aria, formally the Lewis Tower Building, was a turn around condo conversion- The sales team which spearheaded the successful turn around was The Condo Shop a condominium marketing firm.
Vdara was the first property to open at CityCenter, debuting on December 2, 2009. Other properties opened later that month, while Veer Towers was completed in 2010. Aria is considered the central feature of CityCenter, and it includes the only casino at the complex. By 2019, CityCenter had been renamed Aria Campus.
Vdara was announced in October 2006, as part of the CityCenter project by MGM. [2] It was designed by Rafael Viñoly. [3] [4] The name "Vdara" is made up.It was coined by Rafael Viñoly Architects, taking its "V" from "Vegas" and "ara" from boutique hotels in California such as Park Hyatt Resort Aviara and Ritz-Carlton Bacara. [5]
The property owner in this case signs a property management agreement with the company, giving the latter the right to let it out to new tenants and collect rent. The owners don't usually even know who the tenants are. The property management company usually keeps 10-15% of the rent amount and shares the rest with the property owner.
As of 2019, approval for the building was set to expire in June 2020. Aria's commercial manager Michael Zaicek allegedly told Commercial Real Estate that they “have no intentions for a residential development in the near future”. Property developer Dexus acquired the site in 2019 for A$87m. In 2022, Dexus sold the site to a Singapore-listed ...
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