Thursday, July 9, 2015
Summerlin® Ranks #6 In Sales On National List Of Master-Planned Communities
The mid-year review by RCLCO notes Downtown Summerlin a draw for new home buyers
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.
“This national report illustrates what we’ve known all along,” said Kevin Orrock, president of Summerlin. “The 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 2015, 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.
“The 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 home builders 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 #1 ranking in national home sales as early as 1992, just a few years after development began. Summerlin achieved the #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,” said Orrock.
Developed by The Howard Hughes Corporation, Summerlin began to take shape in 1990 and has ranked in the country’s top 10 bestselling 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 acres still remaining to accommodate future growth within the master plan. The community is currently home to more than 100,000 residents who enjoy an unparalleled list of amenities. These include more than 150 neighborhood and village parks, more than 150 completed miles of trails, 22 public and private schools, 14 houses of worship, nine 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 and condominiums– priced from the $300,000s to more than $1 million. Custom homesites in The Ridges are priced from the $400,000s. 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 16 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC and is headquartered in Dallas, TX. For additional information about HHC, visit www.howardhughes.com.
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