Construction has started at the Stone Canyon luxury loft project on Buffalo near Del Rey Avenue. The six homes in the project's first phase, ranging from 3,400 square feet to 3,884 square feet, are all sold. Photo by Ronda Churchill.

Las Vegas-based home builder Blue Heron has finished the first phase of Stone Canyon, a 23-unit luxury loft project at Buffalo Drive and Del Rey Avenue.

The six homes, all sold, range from 3,400 square feet to 3,884 square feet with flexible floor plans that allow owners to choose from one to six bedrooms and 1 1/2 to 4 1/2 baths.

Prices for the remaining four units at Stone Canyon start in the $700,000s.

Las Vegans Tyler Jones and Tommy Isola formed Blue Heron in 2004 as a hands-on operation made up of architects, designers and home builders. Jones and Isola are principals in the company.

Jones' father, Steve, owner of Merlin Contractors, is a partner in the firm, along with Michael Murphy, an architect who moved to Las Vegas from Georgia, where he had his own firm.

Construction costs are estimated at $15 million to $16 million. Dax Contracting is the general contractor. The next 10 homes are scheduled for delivery in July; the entire project is expected to be completed in October.

Stone Canyon will offer home buyers "the cosmopolitan lifestyle" that comes with living in a loft community, Tyler Jones said.

"It's kind of a different lifestyle," the 28-year-old said. "Some people really like the loft lifestyle. They don't like small, cramped rooms. They like open rooms with lots of space."

Loft units feature dual master suites, 20-foot ceilings, roll-up walls, stainless steel appliances, granite countertops and courtyard balconies with options for a home theater and casita. Third-floor decks provide views of Red Rock National Conservation Area.

Luxury Realty Group broker and owner Bruce Hiatt said the $200-a-square-foot price for Stone Canyon lofts is about half of what similar projects are selling for in the valley.

BUSINESS LOAN: Silver State Bank Vice President Brian Schumacher negotiated a $1.76 million Small Business Administration loan for Image Makers Automotive Land Holdings. The loan will be used to buy less than a half-acre of land, building and equipment for business expansion at 970 Empire Mesa Way in Henderson.

BANK SOLD: Charles Moore and Christina Roush of CB Richard Ellis represented NTLV-1 in the sale of Northern Trust Bank at 1995 Village Center Circle to McCam Properties. The transaction is valued at $7 million.

WYNN ARCHITECT: Newport Beach, Calif.-based design firm Wimberly Allison Tong & Goo will provide architectural services for the $1.7 billion Encore expansion of Wynn Las Vegas.

The 4.5 million-square-foot project consists of a 48-story hotel tower with 2,054 rooms; four-story building with hotel registration, 72,000-square-foot casino, meeting rooms, retail shops, restaurants and nightclubs; and 10-level parking garage with 2,676 spaces.

SOIL WORK: Las Vegas-based Soil-Tech performed soil stabilization and color mitigation for 19 acres in the Tropicana and Flamingo washes following construction of the Upper Blue Diamond Diversion Channel. The contract from Army Corp. and Wiser Construction was valued at $22,200.

NDOT STATION: Rafael Construction was awarded an $8.9 million contract to build a 28,665-square-foot maintenance station for the Nevada Department of Transportation near Decatur Boulevard and Las Vegas Beltway in the southwest valley. Rafael is also building its own new two-story, 20,000-square-foot office in Henderson.

PARKING GARAGE: TWC Construction has completed work on a four-story, precast concrete parking garage for Las Vegas Limousine at Valley View Boulevard and Reno Avenue.

COMMERCIAL LAND: Penny Mendlovic and Zack Hussein of CB Richard Ellis represented O'Connell Commercial in the sale of Azure South at the corner of Tenaya Way and Azure Drive in northwest Las Vegas. The transaction is valued at $2.85 million.