Mechanics Liens released at Las Vegas SkyVue – “Observation Wheel” project rolling forward

I’ve had the opportunity to see the Las Vegas strip from vantage points that most people aren’t afforded — rooftops in surrounding residential developments. The view is much different from what you see walking the sidewalks of Las Vegas Boulevard (plus you don’t have to keep turning down offers for paid companionship). The SkyVue project, once complete, will offer tourists an amazing view from the comfort of its giant observation wheel.

For backers in the project, an important hurdle was just overcome: the release of liens against the project:

One of two observation wheel projects being built in Las Vegas, SkyVue has shed its liens but still faces delays. The project’s centerpiece will be 500-ft-high and afford views of the Las Vegas Strip.

The legal situation cleared up somewhat January 25th. A Clark County District Court posted that the $5.4 million in mechanics liens against the project had been released.

According to a statement by SkyVue, the project was “required by the title company to go through this process to be able to ensure first priority for our construction loan,” and it now has no outstanding construction debt or liens.

Via ENR

I would like to point out that the easiest way for contractors to manage liens and ensure prompt payment is to utilize the services of my friends at Zlien.

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