49°F
weather icon Clear
Sponsored

Summerlin ranks No. 6 on national list of master plans

Summerlin marked the first half of 2015 with strong new home sales, topping last year'€™s numbers through June 2014 by 32 percent. Summerlin is the only Nevada community on the top 10 list, according to a report recently released by real estate consultant RCLCO. The national 2015 mid-€year review ranked Summerlin sixth overall as compared to Summerlin’s 2014 mid-€year ranking of 13. RCLCO notes overall new home sales activity within master-€planned communities is up throughout the Western US. The firm cites the opening and draw of Downtown Summerlin for Summerlin’s strong performance, crediting, in part, immediate access to major retail and entertainment options as a difference maker for homebuyers.

"€œThis national report illustrates what we’ve known all along,"€ said Kevin Orrock, president of Summerlin. "€œThe Southern Nevada economy is continuing to recover and our numbers are proof positive of that. Along with last October’s opening of our highly anticipated regional retail destination, Downtown Summerlin, and the opening of several new neighborhoods and community amenities, Summerlin continues to attract homebuyers seeking the community'€™s hallmark quality lifestyle. We are proud to be the only Nevada master‐planned community in the top 10 on the list."€

From January to June, Summerlin offered 17 neighborhoods in three villages, with more than 80 floor plans showcasing 40 model homes and home prices ranging from the high $200,000s to more than $2 million. New Summerlin amenities this year include a public indoor-€aquatic center in the southern end of the community, a fourth community center with outdoor pool and an additional community park in The Paseos village. Downtown Summerlin, the 106-€acre fashion, dining and entertainment center, continues to add a variety of restaurants and retail stores to its line‐up. The first residential neighborhood in the Downtown Summerlin area, The Constellation, is under construction with an opening date slated for early 2016.

"€œThe quality and abundance of Summerlin amenities has always been an important draw for this community,"€ said Peggy Chandler, senior vice president, Summerlin. "Along with a wide variety of beautiful home designs and price points for nearly every budget, Summerlin offers a lifestyle unique to Southern Nevada. Not only do we require our homebuilders to include outdoor living space with the use of courtyards, covered balconies and rooftop decks, we incorporate outdoor living in every neighborhood with trails, parks and beautiful streetscapes that encourage people to walk, run, bike and play."

According to Orrock, Summerlin is easily considered one of the country’s most compelling real estate success stories, achieving No. 1 ranking in national home sales as early as 1992, just a few years after development began. Summerlin achieved the No. 1 ranking 11 times between 1992 and 2003, remaining on the top 10 list from 2004 to 2007.

"This mid-€year report is a true reflection of an economy coming back, and more significantly, how a community, even in its 25th year of development, continues to take shape as the premier master‐planned community in Southern Nevada,"€ Orrock said.

 

THE LATEST
Historic Shakespeare Ranch lists for 188M

The historic Shakespeare Ranch, on the east shore of Lake Tahoe, is listed for $188 million through Chase International. Buyers can purchase the entire ranch or take an a la carte approach and acquire their choice of lakefront residences and homesites starting at $9.95 million.

Here is what the law says about service animals

Your board can contact the local Department of Housing and Urban Development office to discuss the specifics of your association, such as these dogs who may possess a possible threat to another individual.

Riviera Vista debuts in Lake Las Vegas

Last weekend, Lennar celebrated the grand opening of Riviera Vista at Lake Las Vegas in Henderson. Riviera Vista is a new neighborhood offering two-story homes in the heart of the popular master-planned community.

Trilogy Sunstone begins new phase

Las Vegas-area homebuyers are invited to the grand opening of a brand-new phase of homesites at Trilogy Sunstone, an age-qualified community, within the Sunstone master plan in the northwest valley.

Grand Park Village in Summerlin gets first neighborhood

Grand Park Village, the newest village to take shape in the master-planned community of Summerlin, is now home to its first neighborhood — Alton by KB Home, which features two distinctive collections of homes — the Landings and Reserves. This growing area of Summerlin sits on elevated topography that offers numerous vistas and vantage points throughout and is framed on its western edge by a dramatic mountain ridgeline that creates a unique, nature-connected setting.

$15M MacDonald Highlands sale leads October

A $15 million sale in MacDonald Highlands topped the list for the most expensive luxury home closing in October — a month that saw an IndyCar driver set up shop in Las Vegas and former Vegas Golden Knight Jonathan Marchessault sell his Summerlin property.

Taylor Morrison’s Kent Lay gives his take on the new home market

Taylor Morrison Division President Kent Lay said concerns over the election and rising mortgage rates slowed sales in the second half of the year but expects the market to pick back up again in 2025.

Pahrump community has questions about new development

Under Nevada Revised Statutes 116.3108 (2), an association shall hold a special meeting of the unit owners to address any matter affecting the community if at least 10 percent or any lower percentage specified in the bylaws of the total number of votes in the association request that the secretary call such a meeting.

Downtown Summerlin celebrates season of giving

The holidays at Downtown Summerlin, the vibrant urban core of the Summerlin master-planned community, represent the season of giving with three charitable activations that encourage visitors and patrons to pay it forward.

Two Las Vegas high-rise projects surpass more than $600M in sales

Las Vegas’s first two high-rise projects since before the Great Recession have surpassed more than $600 million in sales combined as construction commences at the end of the year.