New, 90-foot sign going up at the Gramercy

Workers with Nevada Sign prepare to hoist part of a 90-foot sign at the Gramercy mixed-use development Tuesday, March 3, 2015.

A few weeks after imploding the Gramercy’s never-finished condo tower, developers are building another high-rise of sorts at the stylish Las Vegas property.

Workers with contractor Nevada Sign are installing a 90-foot sign at the eastern edge of the mixed-use project. It’s expected to be fully welded and wired in the next few months.

In November, Nevada Sign also built and installed the five-ton “G” sculpture at the 20-acre property on Russell Road at the 215 Beltway.

Click to enlarge photo

A new, 90-foot sign is erected at the Gramercy mixed-use development Tuesday, March 3, 2015.

The Gramercy, formerly known as ManhattanWest, was mothballed mid-construction during the recession by original developer Alex Edelstein. It sat for years as a visible scar of the building bust.

Edelstein sold the project in 2013 for just $20 million, a fraction of the $170 million he reportedly spent before lenders yanked his funding.

The new owners — San Francisco-based Krausz Companies and Las Vegas’ WGH Partners — renamed the project and have been completing much of what Edelstein didn’t, including the two four-story office buildings and two four-story residential buildings.

They left the nine-story condo tower largely untouched and, in January, decided it had to go.

Contractors stripped the building to little more than steel and concrete, wired it with copper-clad plastic explosives and dynamite, and imploded it about 8 a.m. on Feb. 15.

At the time, workers said debris would be sold for scrap and that it would take four to six weeks to remove the rubble.

The owners said they hadn’t finalized what they’ll replace the tower with but were considering another high-rise with office space, as well as more housing south of where the tower stood.

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