The Signature at MGM Grand is a condo-hotel at the MGM Grand Las Vegas resort, in Paradise, Nevada, near the Las Vegas Strip. It was built by a partnership between MGM Mirage and Turnberry Associates on the location of the former MGM Grand Adventures Theme Park, although it officially holds an off-Strip address of 145 East Harmon Avenue. It features three identical 38-story towers, each consisting of 576 fully furnished units. 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 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. Developer Turnberry/MGM Grand Towers filed for chapter 11 bankruptcy following the 2008 Great Recession. Owners of 545 condo units in turn sued the developer for fraud, alleging units were rented out at less than luxury rates.
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 towersold 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. In October 2004, The Residences celebrated its ground-breaking, making it the first high-rise condo-hotel project overlooking the Strip to begin construction. The first tower was topped off on October 7, 2005. 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 the MGM Grand hotel-casino.
Amenities
Each tower has a private pool with a 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 Signature is connected to the MGM Grand via several moving walkways that traverse through Tower 1 and 2. Tower 3 is accessible via a hallway between Tower 2 and 3. There is no self parking on the Signature property, as all parking is by valet.
