Luxury homebuilder Toll Brothers is planning new townhouses in a top-selling U.S. master-planned development in the Las Vegas Valley that helped launch a Sun Belt building boom more than three decades ago.
Raven Crest at Summerlin will have three- and four-story homes with prices starting in the mid-$700,000s, according to Toll. A site plan on the builder's website shows 150 units in the development.
Construction has started, and sales are expected to launch in the spring, Toll said in a statement.
Summerlin, developed by the Howard Hughes Corp., sold 1,055 homes last year, ranking fifth among master-planned projects, according to RCLCO, a real estate consulting firm. The Villages, outside of Ocala, Florida, was the top-selling development with 3,208 homes changing hands.
The 22,500-acre Summerlin started in 1990 along the western edge of the Las Vegas Valley, about 12 miles from the Las Vegas Strip. The development now has more than 300 neighborhoods and 127,000 residents, according to Howard Hughes.
"Going forward, we expect to remain a top-selling master-planned community as we continue to develop our remaining land holdings across Summerlin," said Jose Bustamante, president of the Nevada region at Howard Hughes, in a statement.
The company said Summerlin is due to add more than a dozen neighborhoods and three parks this year.
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The Sun Belt region, including Nevada, covers all or parts of 18 states in the Southeast and Southwest. It is a popular destination, given its warm climate, robust job growth and, in some cases, favorable tax laws.
The townhouses at Raven Crest will range from 2,300 to 2,640 square feet and include attached two-car garages, according to Toll. In addition, there will be options of multigenerational living suites with separate quarters for the owners' adult children or aging parents.
Other features include front entry courtyards, covered patios, rooftop terraces and optional private elevators.
“Raven Crest will offer residents the very best of Toll Brothers quality and convenience in one of the most sought-after locations in Las Vegas.” said Janet Love, Toll's division president, in a statement.
Toll Brothers, based in Fort Washington, Pennsylvania, ranks as the ninth-largest U.S. builder based on 9,597 sales in 2023, according to Builder magazine.