<P> Developer Turnberry / MGM Grand Towers filed for chapter 11 bankruptcy following the 2008 Great Recession . Owners of 545 condo units in turn sued the developer for fraud, alleging units were rented out at less than luxury rates . </P> <P> On December 20, 2003, MGM Resorts International and Turnberry Associates announced the formation of a partnership to build the luxury condo hotel, stating that they would build up to six towers each rising up to 40 stories . The first phase of this project involved the sales of condo units to individuals and investors . During this phase, the project was referred to as The Residences, The Residences at MGM Grand and / or The Residences: A Condo Hotel by Turnberry . The first tower sold out within 90 days, proving that the concept was well received . The second tower was already 50% sold by the time construction began in late 2004 . </P> <P> In October 2004, The Residences celebrated its ground - breaking, making it the first high - rise condo - hotel project overlooking the strip to begin construction . Other ventures of this type have begun since in Las Vegas, with many of them failing to obtain necessary financing and / or support . On May 12, 2006, the first tower opened for occupancy . The successful opening of The Signature at MGM Grand appears to be aided by its connection to the resources and amenities of The MGM Grand Hotel & Casino . </P> <P> Each tower has a private pool with a hot tub . Tower 1 has a cocktail lounge . Towers 1 and 3 have a workout room for the guests of all three towers . Starbucks is available at Tower 1 . Signature guests have full access to all MGM Grand amenities as well . </P>

When was the signature at mgm grand built