Saturday, January 5, 2019
FOR SUMMERLIN®, 2018 ANOTHER YEAR OF NATIONALLY-RANKED HOME SALES,
MILESTONE DEVELOPMENTS, AND CONTINUING EVOLUTION OF DOWNTOWN SUMMERLIN
AS A MAJOR SPORTS DESTINATION
Two Summerlin, the second Class-A office tower at Downtown Summerlin, was completed this year. The tower spans 150,000 square feet on six floors.
The year 2018 was another one for the record books for The Howard Hughes Corporation® and its Summerlin® master-planned community (MPC) with a number of milestone developments that include a continuing focus on sports and business, strong home sales that placed Summerlin among the nation’s top five best-selling MPCs for 2018; and the addition of new major amenities with planning underway for the community’s remaining approximately 6,000 acres.
Community development highlights for 2018 include:
- The opening of ten new neighborhoods, including a new custom home enclave in The Ridges;
- The sell-out and completion of seven neighborhoods;
- A mid-year 2018 ranking as the nation’s third-best-selling MPC by national real estate consultant RCLCO;
- Downtown Summerlin®’s selection by Urban Land Institute Nevada as winner of its inaugural Placemaking Awards in the Visionary category;
- Groundbreaking and topping out of Las Vegas Ballpark® at Downtown Summerlin, a 10,000-capacity minor league baseball stadium and future home of the Las Vegas Aviators®, the city’s professional Triple-A baseball team of the Pacific Coast League (PCL) and affiliate of the Oakland A’s;
- Continuing evolution of Downtown Summerlin as a major sports entertainment destination with the over-the-top success of City National Arena – practice facility of the Vegas Golden Knights, and coming soon, Las Vegas Ballpark;
- Completion of Two Summerlin, the second Class-A office at Downtown Summerlin spanning 150,000 square feet;
- Growing success of Downtown Summerlin as a retail destination with the opening of 10 new stores and annual visitation up by more than 9 percent with 2018 visitation topping 18 million;
- Commencement of construction on Tanager, Downtown Summerlin’s second luxury apartment complex that includes 267 residences and scheduled for completion in early 2019;
- Completion of construction on a 180,000-square-foot campus for Aristocrat Technologies, a global gaming leader;
- The opening of Oak Leaf Park, a five-acre park in The Cliffs village and continuing development of two major parks: Sagemont Park, a nearly 10-acre park in Summerlin Centre; and a 12-acre park in the village of Stonebridge;
The Vegas Golden Knights have made their home in Summerlin since 2017 at City National Arena, the team’s practice facility and administrative headquarters.
According to Kevin T. Orrock, President of Summerlin for The Howard Hughes Corporation, the community reached new home sales levels not experienced in more than ten years since 2006 (please confirm), and Summerlin is expected to finish very strong on the list of best-selling master-planned communities by national real estate consultant, RCLCO.
“Sports continue to dominate headlines in Summerlin with the Vegas Golden Knights settling into City National Arena as the beloved team’s practice and administrative home and the ongoing development of Las Vegas Ballpark and future home of the Las Vegas Aviators. This is a very exciting time for Summerlin as its 400-acre urban core – Downtown Summerlin – is truly taking shape as a sports, entertainment, office, dining and retail destination to be enjoyed by everyone in Southern Nevada.”
According to Orrock, demand for Class-A office space in the heart of vibrant suburban communities supports a growing national and local trend to locate workplaces closer to home to shorten commute times and improve quality of life. And Summerlin is no exception.
Don Logan, President and COO, Las Vegas Aviators, onsite at Las Vegas Ballpark, a 10,000-capacity minor league baseball stadium that is currently under construction at Downtown Summerlin, immediately south of City National Arena.
“Two Summerlin, Downtown Summerlin’s second Class-A office tower, and Aristocrat’s new campus near the 215 Beltway and Town Center Drive, are proof of that trend,” said Orrock. “Plus, there is growing demand for luxury apartments that are highly desired by Millennials, young professionals and even retirees, seeking a more flexible living arrangement that better accommodates travel and a more experiential lifestyle. We are responding to that demand with new apartment communities now underway and more in the planning stages.”
As Summerlin continues to unfold, 29 years after development on the community first commenced, plans are underway for the community’s remaining acreage, located primarily west of the 215 Beltway. “We are actively working to develop comprehensive plans that include residential, retail and office development that is highly responsive to market demands and trends,” said Orrock.
Summerlin currently offers more than 100 floorplans in 35 neighborhoods throughout eight villages: The Ridges, The Cliffs, The Paseos, The Canyons, Reverence, Summerlin Centre, South Square and Stonebridge. Homes are available in a variety of styles – from single-family homes to townhomes, from 874 to more than 5,000 square feet, priced from the high $200,000s to more than $1 million. Visit Summerlin.com for more information.
CAPTIONS: The evolution of Downtown Summerlin as a sports, dining, retail and entertainment destination was highlighted in 2018 with commencement of construction on Las Vegas Ballpark; completion of a second Class-A office tower – Two Summerlin; and growing popularity of City National Arena, practice facility of the Vegas Golden Knights.
Developed by The Howard Hughes Corporation, Summerlin began to take shape in 1990 and has ranked in the country’s top 10 best-selling master-planned communities for nearly two decades. Located along the western rim of the Las Vegas valley, Summerlin encompasses 22,500 acres with approximately 6,000 gross acres still remaining to accommodate future growth, including infrastructure, open space and common areas, all within the master plan. The community is currently home to nearly 100,000 residents who enjoy an unparalleled list of amenities. These include more than 250 neighborhood and village parks, more than 150 completed miles of trails, 25 public and private schools, 14 houses of worship, ten golf courses, shopping centers, medical and cultural facilities, business parks and dozens of actively selling floor plans. Homes are available in a variety of styles – from single-family homes to townhomes– priced from the $250,000s to more than $1 million. For information on custom homesites in The Ridges please call 702.255.2500. Luxury apartment homes offer monthly rents starting from the $900s. Visit www.summerlin.com for more information.
About The Howard Hughes Corporation®
The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 13 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC with major offices in New York, Columbia, MD, Dallas, Houston, Las Vegas and Honolulu. For additional information about HHC, visit www.howardhughes.com.
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