2021 Development Plans Include More Than A Dozen New Neighborhoods, New Village Park, Additional Development At Downtown Summerlin
The master-planned community (MPC) of Summerlin®, a development of The Howard Hughes Corporation® (NYSE: HHC), has retained its #3 ranking for new home sales in 2020 by RCLCO, national real estate consultant that has been ranking MPCs since 1994. Summerlin also held the #3 position in 2019. The ranking is determined by new home sales, and in 2020, 1,456 new homes were sold in Summerlin, 136 more than 2019, a more than ten percent increase, and a remarkable achievement given the pandemic of 2020 and its significant economic impact on Las Vegas.
“Summerlin’s exceptional and sustained performance throughout 2020 is due in large part to the fact that MPCs are proven to better hold their value during times of crisis, when there’s historically been a flight to quality,” said Kevin T. Orrock, President, Las Vegas Region, The Howard Hughes Corporation.
“With the reprioritization of values triggered by the pandemic, the concept of home—and a quality work-life experience—has never been more important. Summerlin’s active, healthy lifestyle is the ultimate perk for both home and office. Particularly as Downtown Summerlin continues to expand its office offerings and capitalize on the national trend to move workplaces closer to home, more residents will enjoy shorter daily commutes, further enhancing overall quality of life.”
During 2020, Summerlin headline development included the opening of ten new neighborhoods, including several in Summerlin West, the newest region of the community to take shape with the districts of Redpoint and Redpoint Square leading the way.
Other 2020 highlights included the opening of the Las Vegas Metropolitan Police Department Summerlin Area Command, planning for additional Class-A office and luxury apartment homes at Downtown Summerlin, and the opening of 15 new stores and restaurants at Downtown Summerlin, including such notables as Jing, Wolfgang Puck Players Locker, Anthropologie, Hollister + Gilley Hicks, Casper, Sikara MedSpa, Benyeh, among others. Downtown Summerlin will continue its evolution as a premier live/work environment with new developments to be announced soon and adding new names to its retail line-up, including Free People.
This year, more than a dozen new neighborhoods are expected to open in the community, most of them in the districts of Redpoint and Redpoint Square with one in the village of Stonebridge and the other in Summerlin Centre. A major 10-acre village park in Stonebridge is also expected to be complete in Spring 2021.
According to Orrock, Summerlin West signals the dawn of a new era in the community where the focus is shifting to create higher density residential districts but still designed in harmony with the surrounding natural environment. Homes in these new neighborhoods include a mix of single-family detached homes of all sizes, townhomes, attached two-story duplexes and a mix of front- and alley-facing garages.
“Our goal is to meet the demands of a wide range of market segments, from millennials to empty-nesters and retirees,’ said Orrock. “While single-family homes in all sizes continue their popularity, consumer preferences are expanding to include a desire for smaller footprints to accommodate a more experiential lifestyle. We expect to offer a greater variety of housing options as Summerlin continues its development west of the 215 Beltway.”