Las Vegas joint venture scraps 27-acre development plan

06/6/2008 | Commercial Property Executive

LVTI LLC, a joint venture between Crown Ltd., York Capital Management and real estate developer IDM Properties, scrapped plans for a multibillion-dollar mixed-use development in Las Vegas. Crown backed out of the plan for a 27-acre site because of "recent upheavals in world credit markets." The venture's failure signals that even Las Vegas is feeling the pinch of the credit crunch.

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