Thursday, July 30, 2015

TWO HOMEBUILDERS CLOSE ESCROW ON PARCELS IN THE CLIFFS VILLAGE AT SUMMERLIN®

Woodside Homes and Lennar secure parcels totaling 37 acres in Summerlin’s newest village 

The Howard Hughes Corporation® (NYSE: HHC), developer of the Summerlin® master-planned community, announces today the sale of two parcels totaling 37acres in The Cliffs village to Woodside Homes and Lennar, two homebuilders with long track records of development in the community.   In fact Woodside Homes enjoys the distinction as Summerlin’s very first homebuilder with its Panorama Pointe neighborhood in The Hills village that welcomed the community’s first residents in March 1991.  Lennar has been building in Summerlin for nearly 20 years.

Woodside Homes plans to build approximately 72 single-family homes ranging from 2,500 to 3,200 square feet in its new Skystone neighborhood.  Lennar plans to also build approximately 73 homes ranging from 3,100 to 3,800 square feet in its new neighborhood, Jade Ridge.   Woodside plans to open models by year-end 2016, and Lennar plans to open models during first quarter 2017.

Woodside and Lennar join Toll Brothers as the first homebuilders in The Cliffs.  Toll Brothers is actively developing Regency, a luxury age-qualified community with models open early 2016.

According to Peggy Chandler, senior vice president, Summerlin, these are the first of many more parcel sales to homebuilders in The Cliffs, Summerlin’s first village in nearly 12 years.  “Given the improved economy and a growing demand for housing, along with the unique design aesthetic of The Cliffs created by its stunning geography, homebuilders are excited about this opportunity,” Chandler said. “The Cliffs’ ‘rugged contemporary’ design standard will provide homebuyers with a home that offers indoor/outdoor living, spectacular scenery and a Summerlin address that includes the community’s hallmark quality of life created by its robust offering of amenities.”

Set against a spectacular ridgeline in the community’s southernmost tip, The Cliffs is named for its impressive backdrop.  The 450-acre village, Summerlin’s 20th, will eventually be home to 11 planned neighborhoods encompassing more than 1,700 homes.  Nestled along the base of the Spring Mountains, just south of Bishop Gorman High School, a private college prep school well known throughout Southern Nevada and the nation, The Cliffs will include both single-family and multi-family homes in a variety of price points and styles.   The village is conveniently located near the 215 beltway. 

New neighborhoods in The Cliffs are being positioned to maximize views of the valley as well as the adjacent Spring Mountains. Some neighborhoods will be specifically sited and terraced to allow unobstructed views. To further maintain the area’s natural beauty, parcels of land within the village have been set aside to remain undisturbed and undeveloped. The valley’s sloping topography and rugged land forms create unique opportunities for neighborhood layouts that blend with the surrounding environment and architectural designs.  

Village amenities include the existing Wet ‘n’ Wild water park, Faiss Middle School and Faiss Community Park where construction of its aquatic center began in April.

For the latest information on new neighborhoods in The Cliffs village, visit summerlin.com.  Follow live updates on the event at: Twitter - @summerlinlv; Facebook www.facebook.com/summerlinlv; Instagram - @summerlin; and hashtags - #TheCliffs, #thisishome, #summerlinlv and #summerlin.