ML - Vegas Magazine

Iliquam, ulles ipsae id quaecum imusanisi si occum faccabor sitatem et, sendigenimus dellest rent apero vent, sus, quos es doluptatque Iliquam, ulles ipsae id quaecum imusanisi si occum faccabor sitatem et, sendigenimus dellest rent apero vent, sus, quos es doluptatque photography by LesLie CuLLer (45 hawk ridge); pauL t. stoCum (99 hawk ridge) "this is just the beginning. there seems to be no ceiling for the top end of the market." —john tippins Vegas but for anywhere," he says, noting that inter- national buyers long familiar with the location rave that they haven't seen anything like it: "You kind of meander in a canyon 3,200 feet in the air. This is going to be the place for people who are looking for world-renowned modern architecture." Ascaya's home sites start at just under $1 million, but the resi- dences built on them will sell for at least $3 million. Darin Marques, Sher's sales manager for Ascaya, notes that one huge selling point is that all the sites a re ready for const r uct ion: "T he water, power, sewer—all the infrastructure is in place. That's very rare for a project." And the setting, rising from the McCullough Range with Strip views, is hard to beat. Is Vega s ready to ha ndle t his much high- end housing? Leading brokers aren't sure. "Summerlin has done a fantastic job of providing infrastructure that is second to none," says broker Gavin Ernstone of Simply Vegas (simplyvegasrealestate.com), who has sold many of the top homes in The Ridges, where a contemporary desert style meshes well with modern architecture. Ernstone, who recently went into con- tract on the $8 million, 13,490 -square-foot home at 9 9 Hawk R idge Dr ive, a nd t he $ 4.49 9 m illion, 7,016 -square-foot listing at 45 Hawk R idge Drive, has seen the market soar. But he has concerns about t he sheer a mount of luxur y product being int ro - duced into new communities. "It will be interesting to see if the price points stay where they are," he says. And, of course, Las Vegas is already packed with exclusive communities where you can find fantastic homes, either finished or still in prog ress. Broker Bob Barnhart of Luxurious Real Estate (luxurious- estates.com) is working with eco-friendly developer Growth Construction (growthconstruction.com) on plans for new residences, including a 20,000 -square-foot colossus with a 20-car garage in Southern Highland's ultraelite Shadow Canyon. "A house of this caliber could be priced at $20 million," Barnhart says. T hen t here a re com munit ies like Red Rock Country Club, where those without the desire for a custom home can find what Barnhart calls "entry- level luxury." Ernstone's listings there include the nearly 5,000 -square-foot Red Rock house at 11352 Golden Chestnut Place for $1.19 million. Another rarefied area is Spanish Trail. "It's a leg- endary community here, being the first high-end golf-course master-planned community on the west side," says John Tippins, a partner with The Agency Nevada (theagencyre.com) and founder and CEO of Northcap (northcap.com), which owns and manages more than 2,000 Vegas residences. The Agency's list- ings include the Spanish Trail mansion at 26 Vintage Court, a 24,563-square-foot house built in 1993 and listed for $7.85 million. Tippins, for one, is eager to see new high-end developments around the city. "This is just the beginning," he says. "There seems to be no ceiling for the top end of the market. They aren't making any more mountains to offer these views." V build out) will include club suites that could start at 1,000 square feet and five-bedroom units that will weave together indoor and outdoor living. But the biggest draw for elite buyers—who will also enjoy the development's private restaurants, fitness cen- ter, a nd spa —is t he custom home sites. From one-third to two acres, these lots are expected to fetch $1 million or more each and eventually hold around 250 estate homes and club cottages starting in the $3.5 million to $4 million range. "This proj- ect is f ive minutes from dow ntow n Summerlin," says Kevin T. Orrock, president of Summerlin and vice president of master-planned communities for Howa rd Hughes (howardhughes.com). He expect s houses from 3,400 to well over 20,000 square feet. Summerlin isn't alone in its desire to lure new buyers who have the bankroll to purchase a multi- million-dollar home. Henderson's 664 -acre Ascaya development (ascaya.com) has its own stunning desert and mountain backdrop, and broker Ivan Sher of Shapiro & Sher (lasvegasfinehomes.com) is excited to sell its 313 custom home lots. "It's unique not just for At 99 Hawk Ridge Drive is this 13,490-square-foot residence with Midcentury Modern interiors, plus mountain and city views. The home at 45 Hawk Ridge Drive in The Ridges just sold for $4.5 million. 118  vegasmagazine.com haute property

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