New York, Vegas, Miami: Developer's trifecta ticket.In a bid to tap a jet-set crowd for whom frequent travel between Miami, Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of is commonplace, real estate developer RPC (Remote Procedure Call) A programming interface that allows one program to use the services of another program in a remote machine. The calling program sends a message and data to the remote program, which is executed, and results are passed back to the calling Holdings is planning to build hotel condominiums in all three cities The Three Cities is a collective description of the three fortified cities of Cospicua, Vittoriosa, and Senglea on the Island of Malta, which are enclosed by the massive line of fortification created by the Knights of St John, the Cottonera Lines. that will allow owners who purchase a room in one project to stay in any of the others. The concept expands the traditional bounds of the hotel condominium, whose ownership interest is typically confined to one location. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Daniel Kodsi, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of RPC Holdings, although the structure for the room sharing plan hasn't been formally laid out, the general idea is that income generated from a hotel condo when it is submitted in the hotel's rental pool would pay for its owner's stay in a hotel room at an RPC property in another city. "I don't think it's something that has been done before," said Kodsi said of the concept. "New York, Las Vegas and Miami share this tremendous synergy because they're probably the three hottest cities in the country and I think that an idea like this really taps into that." Options regarding where hotel condo owners can stay may expand beyond the three cities as RPC considers building projects elsewhere across the country and perhaps even eventually internationally. "We're not selling just one location like other condo hotels," Kodsi said. "We're selling a number of big cities, a list that will potentially grow." The Boca Raton-based firm so far has three projects planned for south Florida, including a condominium hotel in downtown Miami located directly across from the American Airlines Arena that is set to begin construction next year. It plans to break ground on a 346-unit, 47 story condominium development called Paramount Bay in Miami within the next three months. RBC RBC red blood cell. RBC or rbc abbr. red blood cell RBC, n See red blood cell count. RBC red blood cells; red blood (cell) count (see blood count). is preserving a mansion on the site, featured in the movie 'There's Something About Mary,' which it plans to convert into a restaurant. The firm's most ambitious project is a $1.6 billion mixed-use development it is planning for the Las Vegas strip The Las Vegas Strip (also known as The Strip) is a 4 mi (6.7 km) section of Las Vegas Boulevard South, most of which has been designated an All-American Road. , to be located directly across from the Bellagio hotel and casino. The development, which will include hotel, hotel/condo, residential and casino gaming components, as well as a number of restaurants, is slated to begin construction by the end of 2007. Because of the project's size, RBC is currently seeking a partner and Kodsi mentioned that he had met with Credit Suisse to discuss a possible joint venture. Finding a development site in Manhattan whose location would be commensurate with the prime spots RBC is developing in Miami and Las Vegas has proved to be one of the most formidable obstacles in its plan to have a presence in all three cities. "New York is a place that we are very interested in entering but there's a pretty large barrier to entry," Kodsi explained. "Right now, New York is a vision for us that we're working to realize." |
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