Southern Nevada will soon see some of its priciest homes yet.
The Howard Hughes Corp., which is developing Summerlin, is announcing a joint venture with Discovery Land Co. of Scottsdale, Ariz., to build about 250 homes on 555 acres near Tropicana Avenue and Town Center Drive, just south of The Ridges, in the foothills near Red Rock Canyon National Conservation Area.
When it breaks ground in 2015, the currently unnamed project will be the lowest-density neighborhood under construction in the local market, with lots as big as three acres, said Steve Adelson, a partner in Discovery. It probably will be the most expensive as well, with vacant parcels starting in the low seven figures, though it’s too early in planning to peg construction costs or home prices.
The announcement comes weeks after The Howard Hughes Corp. said it will construct Manhattan-like residential densities in Downtown Summerlin, where as many as 10,000 people are expected to move onto a third of a square mile in the next decade. The developments are five minutes apart, making Summerlin South possibly the only corner of the Las Vegas Valley with two such disparate density levels in such close proximity. (READ THE FULL ARTICLE)