Condominium projects have sprung across Las Vegas, but a site for luxury living like no other is about to emerge in the northeast valley.

Trophy Towers, a multi-story condominium with panoramic views of both the world-famous Las Vegas Strip and Las Vegas Motor Speedway's 1.5-mile superspeedway, is the latest addition to LVMS's multimillion-dollar makeover.

Speedway officials and Las Vegas Mayor Oscar B. Goodman made the announcement Friday. "I have said many times that I want to make this the greatest speedway in the world," said Bruton Smith, chairman of LVMS's parent company, Speedway Motorsports. "We announced a few weeks ago that we were making major improvements to our infield area and to the racing surface itself. And this is another step in separating this speedway from all others."

Smith has overseen condominium projects at three other SMI speedways:  Lowe's Motor Speedway in Charlotte, N.C., Atlanta Motor Speedway and Texas Motor Speedway in Fort Worth. Each project has been met with rave reviews.

"When Bruton announced that he was building condominiums in Charlotte, there were a lot of naysayers," said Chris Powell, general manager of Las Vegas Motor Speedway. "But the man has been a visionary in this sport. There is no doubt that once Trophy Towers is completed, it will be the talk of the Las Vegas Valley as well as the racing world."

In addition to the private units, Trophy Towers will feature a swimming pool, spa, workout room, private parking and high-tech security. The individual units will range in size from approximately 1,750 square feet to 3,500 square feet for the penthouse. Each condo will have views of both the Strip and the speedway.

AI Design Group of Charlotte, N.C., is the architect for the project. AI Design also has planned the speedway's infield renovation and has been involved in many projects at other SMI facilities.