Summerlin ranks No. 6 on national list of master plans
Summerlin marked the first half of 2015 with strong new home sales, topping last year's numbers through June 2014 by 32 percent. Summerlin is the only Nevada community on the top 10 list, according to a report recently released by real estate consultant RCLCO. The national 2015 mid-year review ranked Summerlin sixth overall as compared to Summerlinâs 2014 mid-year ranking of 13. RCLCO notes overall new home sales activity within master-planned communities is up throughout the Western US. The firm cites the opening and draw of Downtown Summerlin for Summerlinâs strong performance, crediting, in part, immediate access to major retail and entertainment options as a difference maker for homebuyers.
"This national report illustrates what weâve known all along," said Kevin Orrock, president of Summerlin. "The Southern Nevada economy is continuing to recover and our numbers are proof positive of that. Along with last Octoberâs opening of our highly anticipated regional retail destination, Downtown Summerlin, and the opening of several new neighborhoods and community amenities, Summerlin continues to attract homebuyers seeking the community's hallmark quality lifestyle. We are proud to be the only Nevada masterâplanned community in the top 10 on the list."
From January to June, Summerlin offered 17 neighborhoods in three villages, with more than 80 floor plans showcasing 40 model homes and home prices ranging from the high $200,000s to more than $2 million. New Summerlin amenities this year include a public indoor-aquatic center in the southern end of the community, a fourth community center with outdoor pool and an additional community park in The Paseos village. Downtown Summerlin, the 106-acre fashion, dining and entertainment center, continues to add a variety of restaurants and retail stores to its lineâup. The first residential neighborhood in the Downtown Summerlin area, The Constellation, is under construction with an opening date slated for early 2016.
"The quality and abundance of Summerlin amenities has always been an important draw for this community," said Peggy Chandler, senior vice president, Summerlin. "Along with a wide variety of beautiful home designs and price points for nearly every budget, Summerlin offers a lifestyle unique to Southern Nevada. Not only do we require our homebuilders to include outdoor living space with the use of courtyards, covered balconies and rooftop decks, we incorporate outdoor living in every neighborhood with trails, parks and beautiful streetscapes that encourage people to walk, run, bike and play."
According to Orrock, Summerlin is easily considered one of the countryâs most compelling real estate success stories, achieving No. 1 ranking in national home sales as early as 1992, just a few years after development began. Summerlin achieved the No. 1 ranking 11 times between 1992 and 2003, remaining on the top 10 list from 2004 to 2007.
"This mid-year report is a true reflection of an economy coming back, and more significantly, how a community, even in its 25th year of development, continues to take shape as the premier masterâplanned community in Southern Nevada," Orrock said.
