When Howard Hughes Corp. executives outlined their vision for Summerlin in March of 1988, builders, real estate agents and bankers were very excited to get involved with this massive community to be built from scratch in the desert.
Some people had a hard time with the name. One homebuilder called Summerlin “kind of a tongue-tumbler,” and at a news conference, project officials kept using the site’s old name and corrected themselves.
Now it’s over 30 years later and Summerlin can say with pride they have 100,000-plus residents, a network of parks, trails and community centers, and a commercial core with shopping, restaurants, an ice rink, and minor-league baseball. It commands some of the highest home and land prices in Southern Nevada and remains one of the top-selling spots in the nation for homebuilders.
Summerlin spans 22,500 acres along the valley’s western rim and still has plenty of room for more construction, too. By the end of last year, it had 2,864 acres of residential land and 831 acres of commercial land that could still be purchased.
According to Brian Walsh, senior vice president of land sales in Summerlin, it can cost $200,000 to $250,000 per acre to develop typical residential land tracts.
The first residential neighborhood was Sun City Summerlin. The 55-and-older community proved a success, and given that it was first in line, Summerlin management rolled out an advertising campaign to let people know that Summerlin wasn’t strictly for retirees, Orrock recalled.
Summerlin quickly became a popular place to live, and was the top-selling master-planned community in the nation from 1992 to 1995, missed the title in 1996 by just two home sales, and was on top again from 1997 to 2003.
Texas-based Hughes Corp. has since developed hundreds of millions of dollars’ worth of projects in Downtown Summerlin, bringing retail shops, office buildings, apartments and baseball.
The company owns the Las Vegas Aviators minor-league team and its stadium, Las Vegas Ballpark, which sits across from the company’s 106-acre open-air mall. Neighboring properties include the Golden Knights’ practice rink, City National Arena.
Summerlin also has award-winning 150-plus miles of trails, numerous parks, and other amenities, including a Fourth of July parade that has drawn tens of thousands of attendees annually.
If you are interested in purchasing a newly built or existing home in Summerlin, contact the Nevada Builder Trade In Program operated by the Smith King Team. Through this program we work with Century Communities, Pulte Homes and Woodside Homes, as well with other builders other than our builder partners that are sitting with standing inventory and we offer similar benefits as the Nevada Builder Trade-In Program. If you own an existing home in the Las Vegas Valley and are looking for a newly built home contact the Smith King Team. When you are ready to move one of our wonderful agents will be with you every step of the way both virtually and in person. We follow social distancing regulations and wear masks and booties.
Keep in mind that whether you are interested in buying a home or selling a home, a Realtor should represent you– this person is working for your benefit and will help you navigate through the buying or selling process. We have celebrated selling both New and Resale Homes for over thirty years…..
We are here to answer any questions you might have – just email jennifer@smithteamlasvegas.com
Thanks and make it a terrific day…………The Smith King Team
