Business

Wynn executive: Each room in new hotel will cost $1 million to build

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Counsel for Wynn Resorts said Friday that hotel rooms in the company’s proposed hotel in Everett will cost as much as $1 million, according to CommonWealth magazine. Each room’s high price tag is more than three times the median price of a single-family home in Massachusetts.

Construction of the Wynn Boston Harbor hotel has been besieged with controversy since the project’s initial proposal, but this price point came during a federal criminal trial focused on the ownership of the 35 acres the casino company hopes to develop. Lawyers for Wynn Resorts testified in the  trial of the property’s former owners, three men accused of conspiracy and wire fraud for concealing the involvement of a convicted felon in the land’s sale.

Real estate website Zillow estimates the median home value in Massachusetts is $342,600.

Read the full CommonWealth story here.

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