Hit very hard by the Great Recession, Lake Las Vegas is once again booming in real estate.
Lake Las Vegas, once marketed as a second-home community where people flew in to spend their weekends, is undergoing a wave of construction and boost in sales as 2018 ends, cementing its strategy as a place for people to live full time.
In 2014 in the aftermath of the Great Recession and region’s housing collapse, no builders were constructing homes in Lake Las Vegas, which was one of the last Southern Nevada master plans to recover. Today, there are 10 active home communities selling, including its signature project — luxury custom lots for sale along the north shore not far from the Westin Lake Las Vegas. There are even plans to open an age-qualified community in late 2019 as a sign builders are finding growing opportunities in the east Henderson development.
Developers are trying to get the word out that Lake Las Vegas is a vibrant place to live, with a ton of great amenities.
Pat Parker, president of Raintree Investment Corp., the developer of Lake Las Vegas, recently hosted a group of Realtors at Reflection Bay Golf Club to get the message out on the wave of new development. Parker said their goal since taking over the project was to make it a community where people think of it as their primary residence, and they’ve gone a long way to make that happen by developing amenities, focusing on lifestyle and building homes in a variety of price ranges.
Parker believes the visual and emotional appeal of Lake Las Vegas will bring in many who are looking for their dream home in a beautiful area.
“I am 100 percent positive when you move into a community, you get the visual and emotional feeling first on whether you want to be there or not. There are things that didn’t exist here when people came in for the weekend. Now, people are staying longer and longer and making it their primary house. That will be sustainable for the future. That helps the village and businesses. And if you are part of the community, you bring others here as well.”
Better road access and better schools are also a huge draw to Lake Las Vegas for potential buyers.
The extension of East Galleria Drive linking U.S. Highway 95 to Lake Las Vegas and subsequent opening of Stevens Elementary School along that route in August 2017 provide more reasons for people to live in the Henderson resort community, now better connected to Las Vegas and shopping. A specialty grocery store opened in the village two years ago.
“Prior to the elementary school opening, we were nervous about primary housing, but with that and the road, we felt very good about it,” Parker said. “A second-home community was the original marketing plan, and it did well. But we have thousands of homes to go, and I don’t think second-home communities aren’t thought of as the same way they used to be.”
All of this is causing many who have made their home in Lake Las Vegas a secondary home to now make their Lake Las Vegas home their primary home.
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