[Grant]

After almost 40 years on the Las Vegas Strip the Boardwalk hotel-casino is now offically closed.

The MGM-Mirage is tearing down the property to build Project City Center. The $5 billion development is expected to open in 2010. It will include a 60-story, 4,000-room hotel-casino, boutique hotels, a major shopping mall and more than 1,600 luxury condominiums.

MGM-Mirage Chairman and CEO Terry Lanni said, "We want to change the world and this will definetely do it, it's not just for Las Vegas but truly for the world."

The City Center project is expected to create 7,000 construction jobs, and 12,000 new permanent positions. Eyewitness News is told that MGM-Mirage is working to transfer the Boardwalk's nearly 750 employees to its other properties.

Boardwalk started as a family owned property but is currently owned by MGM-Mirage. The tower will most likely be imploded.