Las Vegas' downtown building boom(?)

Development of a new Las Vegas city center is moving from the drawing boards to the construction site (note that this isn't the huge City Center development taking shape on the Strip itself). Meant to revitalize (or replace) Vegas' existing downtown with residential development, a performing arts center, and a 60-story $700 million international jewelry trading highrise, it exemplifies the local "neverending growth" myth that has taken root here in the desert.

My guess is that with the slowing U.S. economy and the rising cost of oil, we may be overshooting the mark.

http://mobile.nytimes.com/article;jsessionid=078BC0F92E46300C947FFB986E6617FC.w5?a=158646&f=21