The opening of Plams Place was as celebrity-packed and media-saturated as you would expect from a George Maloof event associated with the Palms. In fact, a number of the celebrities on the red carpet had already had their own red carpets in connection with Palms Place.

There were the endless number of cast members/workers at Sunset Tan, which has a salon in Palms Place. That salon had a red carpet opening earlier this year. Also appearing on that red carpet as well as an earlier red carpet for his own signature restaurant at Palms Place was chef Kerry Simon. He too was back for one final red carpet for Palms Place.

This was vintage Maloof milking press out of each stage of his project's development. And the plan worked with US, People, ABC radio and many others crowded for space on the valet side of the entrance behind a rope hoping to get a crack at photos and questions for hot tabloid fodders like representatives from the families Jackson (Latoya and Jackie), Simpson (Ashlee and Jessica) and Kardashian (Khloe).

Admittedly, few of the questions had to do with Palms Place. "Do you think Maloof will mind being asked about Britney?" one reporter asked me as Maloof headed down the carpet for first of three passes he made that night for the press. Maloof had two recent meals with the singer, which made headlines around the world and fueled speculation that the troubled pop star was planning a comeback beginning with a concert at the Palms. In fact, Maloof had told me a week earlier that the meetings were just friendly (the two have known each other for years) and no business was discussed between them. On the red carpet Maloof with perfect composure told the other reporter "She's fine" to three variously expressed requests for insight into Spears’ condition. Maloof is used to handling questions about his VIP friends with diplomacy and discretion. This sort of thing does not fluster him. More on his mind is the condition of Las Vegas.

Maloof opened the original Palms in the shadow of 9/11. Vegas was suffering layoffs and talk of recession for the first time in recent memory. “I was a bit nervous,” Maloof admits. Now, while Palms Place does not have a casino (it is connected to the Palms), Maloof is opening his condominium/hotel tower (in which the rooms can be converted into hotel rooms if the owner is out of town) amid the worst real estate meltdown in Vegas history. Nevada has been among the national leaders in foreclosures, there is a credit crunch for real estate loans, and once again casinos are laying off employees (including both Strip giants MGM-Mirage and Harrah’s) during a time of national economic slowdown.

“Sometimes you can’t help when you open. You just have to work hard and live through it. There are always challenges,” Maloof says of the unfortunate timing of his two openings. Yet as with the Palms, he sees Palms Place in a small way as ultimately good for helping spark the rebound that everyone is convinced Vegas is due: “I think people used the opening (of the Palms) in a way that was good for Las Vegas, because people needed something to get their mind off the tragedy. The principle is the same. We are opening a brand new property that was a $400-million expense, and we have hired more than 300 people. So we created a lot of jobs. This is good for the Las Vegas economy during a challenging time.”

The final stage of Palms Place is proving “challenging” (one of Maloof’s favorite words) as well. Palms place sold out its 599 units, including 21 penthouses, three years ago. But even that hasn’t proven total protection from the current economy:  Maloof notes: “People put 20% down. Now we just have to collect the rest for closing in very challenging financial times.” Still, Palms Place has had it easier than most competitors, including Trump International, which still has available units in that recently opened hotel/condo.

But as a place to stay, the reviews of Palms Place are glowing from both hotel guests and owners, both of whom, as has become standard for the Palms, include celebrities. Kardashian, the hotel guest, exclaims: “I stayed there last weekend, and I am staying there tonight. It makes your time here really comfortable.” She would consider buying a unit if one became available.  And owner Jessica Simpson (left) sounded as excited to own a condo as if she had completed a marathon: “Owning a condo in Vegas is surreal. I never thought I would own a condo in Vegas. But I went for it and did it, and I am proud that I did it, and I am impressed actually.” As for how often the singer intends to be in residence at her Palms Place unit, Simpson offered one of her trademark headscratchers by way of an answer: “I hope that I stay here more than I ever thought that I would.” What more of an endorsement could you ask for? (Photos by Sarah Gerke)