An ultra-exclusive lot in The Ridges in Summerlin that’s been withheld from development for more than a decade is on the market for the first time.
The 3.86-acre site is perched overlooking a pond on the first hole at Jack Nicklaus’s Bears Best golf course that runs through The Ridges.
It has an unobstructed view of the Strip to the east. To the west, Red Rock Canyon National Conservation Area and the Spring Mountains form a backdrop.
It even has a name – Falcon Pointe – and the asking price is $7.5 million, making it one of the most expensive lots in the valley on the market.
“The lot is so special and spectacular that it has a name,” said Summerlin spokeswoman Melissa Warren with Faiss Foley Warren. “If you think about it, most lots in The Ridges are part of a neighborhood or an enclave and they don’t necessarily have names.”
It’s adjacent to the Falcon Ridge neighborhood where its 60 lots are sold out, but it stands alone with its own private driveway that offers seclusion for those seeking privacy, according to Elle Gaensslen, sales and marketing manager for Summerlin for The Howard Hughes Corp..
“Initially, they thought about having some type of estate lot attached to Falcon Ridge — one of the original neighborhoods — but they carved it out and let it stand alone so there would be one estate opportunity at the end of The Ridges,” Gaensslen said.
Development in The Ridges started in 2000, and is home to many business executives, community leaders and executives. Upon build-out, The Ridges will have 965 units of custom and production homes.
Fifty homes are under construction at this time, and the Azure neighborhood in The Ridges has 12 lots remaining priced from $785,000 to $1.9 million. Another neighborhood, Indigo, has 23 lots remaining priced between $725,000 and $2.2 million.
Falcon Pointe is the largest lot in The Ridges offering a custom build opportunity for those who desire to build their dream home on a dream spot, Gaensslen said.
“It’s their own private sanctuary,” Gaensslen said. “Just imagine yourself driving up your long driveway and passing your gate and security onto this beautiful modern compound in The Ridges. It has some wow factor. It’s going to be incredible.”
The owner can build up to 45,800 square feet. That includes a two-story residence up to 23,000 square feet and accessory structures reaching as high as 22 feet. There aren’t many lots available in the valley to build a home so large. The typical lot in The Ridges has homes measuring 10,000 to 12,000 square feet, she said.
The Ridges, which reaches 4,000 feet above sea level and is known for homes with modern architectural style blended with the desert environment, has been named one of the most exclusive gated communities in the country. Club Ridges is a private health, fitness, tennis and swim facility for Ridges’ residents and their guests.
“There’s no place like The Ridges,” Gaensslen said. “To have an estate parcel in the most exclusive area of Vegas is exciting.”
The interest in Falcon Pointe has come from out-of-state residents, Gaensslen said. Southern Nevada is getting two sports teams in the NFL’s Oakland Raiders that will relocate to Las Vegas in 2020 and the NHL’s Vegas Golden Knights that will start play this fall.
“There are so many positive effects of the Raiders and Golden Knights coming that luxury is going to experience a bump,” Gaensslen said. “There has been some interesting lookers. We’re seeing an influx of new faces here. It would be perfect for an athlete or executive.
The Ridges has eight custom-built neighborhoods and four high-end production neighborhoods. There are 700 estate homes completed today and 50 homes are under design or construction. The builders include Toll Brothers, Christopher Homes and William Lyon Homes.