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Pinnacle Las Vegas gets new contractor11 September 2007LAS VEGAS, Nevada -- As reported by the Las Vegas Business Press: "The third time is a charm. At least, that is what the developers of the proposed Pinnacle Las Vegas are hoping. "The Falconi Group recently named its third general contractor for the planned $740 million, 1,100-unit condominium-hotel development at Tropicana and Cameron avenues, across from The Orleans. Dick Pacific Construction, a unit of Pittsburgh-based Dick Corp., has replaced Marnell Corrao Associates as builder. "Marnell was the general contractor until two months ago. A reason for the change wasn't explained. The project, which was first announced in 2004, initially had New York City-based Turner Construction Co. as its general contractor. But that relationship didn't last either. Turner is building CityMark Development's $167 million, 341-unit Juhl at 255 E. Bonneville Ave. downtown. "...Pinnacle Las Vegas comes during a market adjustment with a glut of available inventory and several project cancellations. It could consequently make sales difficult, though project representatives have yet to disclose how many units are under hard contract..." |