Saturday, September 6, 2008

Death at Bally's and other Vegas Tidbits

In the early morning hours yesterday, an argument at the Front Desk of Bally's led to the stabbing death of a 22 year old woman. The female suspect fled on foot but turned herself in to the LVMPD 5 hours later. 23 year old Latrovia Reed from Milwaukee was also being held on an outstanding warrant for prostitution.

Ms. Reed looks like yet another example of the dregs of society that often migrate to Las Vegas. This is one of the uglier sides of Las Vegas. The sheer number of transients that show up in town looking for either riches or victims is just astounding. Stories like this serve to remind us that despite having more "security" than any other city on earth, you really need to be in "urban" mode at all times in Vegas. It is no different than any other big city in America and you need to have common sense and look out for yourself.

In other news, The troubled and foreclosed Cosmopolitan that is rising between City Center and Bellagio once again has a new party helping trying to get the thing built. Related Cos. of New York has been hired by owners Deutsche Bank to finish the $3.9 billion resort that Deutsche ending up owning through foreclosure on the original developer. The move is being cheered as a step towards completing what had the potential of being a giant unfinished eyesore in the middle of the strip.

Rumors of a partnership between Deutsche and Related have been floating around for months (see my May 30th Blog Entry.) This is Related 3rd try at getting a resort in Vegas and they may have to settle for just running one instead of owning it. Related track record has been questionable in Las Vegas but they do have some skill to get things done. They have built the enormous World Market Center downtown as well as the Time Warner Center in New York City, which is pretty impressive. With the financial muscle of Deutsche Bank and their apparently will to see this thing through, I believe that Cosmopolitan will eventually see the light of day. I think that bodes well for Vegas as a whole.


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