Wednesday, January 10, 2018
Summerlin ended 2017 as the fourth best-selling master-planned community in the nation, according to RCLCO, a real estate consulting company that has been ranking communities since 1994.
In 2017, 1,052 new homes were sold in Summerlin, a 37 percent increase over 2016, when it was ranked No. 5.
The 22,500-acre Las Vegas community, which started taking shape in 1990, has appeared on RCLCO’s annual list 22 times since the firm began tracking sales 24 years ago.
“The community was ranked No. 1 as the nation’s top-selling master-planned community eight times between 1994 and 2002, putting Summerlin in the company of only a handful of communities nationwide to enjoy such remarkable and sustained success,” said Gregg Logan, managing director, RCLCO.
“The primary drivers of performance in the area include strong economic growth across the board in Nevada as well as a significant number of buyers who are relocating from higher-priced California,” Logan said.
The community had its best sales year since 2006, said Kevin T. Orrock, president of Summerlin for the Howard Hughes Corp.
Among the openings in Summerlin in 2017:
• Ten neighborhoods and two villages — Stonebridge and Reverence by Pulte Homes.
• Two public elementary schools, bringing the number of schools in Summerlin to 25.
• City National Arena, the Vegas Golden Knights’ practice facility, in the Downtown Summerlin area.
• Summerlin’s 10th golf course, The Summit, a private championship course by Tom Fazio.
• 18-acre Fox Hill Park, with more than 20 unique play structures and disc golf.
• The long-anticipated Crate & Barrel.
Construction also began on an 180,000-square-foot campus for gaming giant Aristocrat Technologies near the 215 Beltway and Town Center Drive and a second Class-A office tower near the Downtown Summerlin area.
Plans were also announced for Las Vegas Ballpark, a 10,000-seat baseball stadium that will be the home of the Las Vegas 51s.
“This is a very exciting time for Summerlin,” Orrock said. “Its 400-acre urban core — Downtown Summerlin — is truly taking shape as a sports, entertainment and retail destination to be enjoyed by everyone in Southern Nevada.”
Summerlin still has more than 6,000 gross acres left to develop, Orrock said.