Wealthy Summerlin enclave adding custom-home sites
The Howard Hughes Corp. announced that it reached an agreement to expand The Summit Club.
A wealthy Summerlin enclave that has drawn such buyers as movie star Mark Wahlberg is expanding with additional custom-home sites, covering more than 50 acres.
The Howard Hughes Corp., developer of Las Vegas’ Summerlin community, announced this month that it reached an agreement with its partner on The Summit Club to expand the upscale outpost, located off Town Center Drive south of Flamingo Road.
Hughes Corp. contributed an additional 54 acres, which will be used to develop 27 custom-home sites, the company said in an earnings release.
The Clark County Commission is scheduled to consider expansion plans for The Summit Club on Wednesday. According to county documents, plans call for 28 single-family lots spread around 57.8 acres.
A Summit Club representative told the Review-Journal last week that the project has “experienced tremendous interest since we first began selling homesites” and that there is only one remaining developer-owned custom lot in its inventory.
More than half of the new lots are “already committed in our pre-sale phase,” said the representative, who declined to provide pricing.
Summerlin spans 22,500 acres along the valley’s western rim. It boasts 100,000-plus residents and commands some of the highest home and land prices in Southern Nevada.
Hughes Corp. announced in 2014 that it was partnering with Arizona developer Discovery Land Co. on a 555-acre project that would be “Summerlin’s most exclusive luxury community.”
The Summit Club, as it was later named, features a golf course, luxury homes and, its website declares, a “wealth” of amenities including “round-the-clock security.”
Its empty home sites have fetched big money. A total of 202 lots in the enclave closed for $821.6 million through 2021, according to a securities filing by Hughes Corp. That amounts to an average of more than $4 million per lot.
Buyers there have included Wahlberg, who recently purchased 2.5 acres of vacant residential land for $15.6 million from former motorcycle racer Ben Bostrom.
Contact Eli Segall at email@example.com or 702-383-0342. Follow @eli_segall on Twitter.