A new residential construction project stands to give a needed boost to the lagging Las Vegas home construction and development market. Presidio Residential Capital and Summit Homes Nevada have announced the construction of Canyon View, a five-acre community development in Las Vegas. The $7.8 million project will include 36 single-family homes and will be built in Clark County, according to Builder Online.
The Canyon View project will be located on Jones Boulevard north of Windmill Road, situated near the Las Vegas Strip. Also close by are McCarran Airport, Interstate 15, and the Clark County 215 Beltway, providing residents with easy access to commuting routes and some of the city’s most popular areas.
Work on the first phase of the project, which will include 20 new homes, has already begun. Another 16 homes are planned for the second phase, which is scheduled to begin in December.
Homes in the Canyon View community are expected to be built on 4,000 square-foot lots. The homes themselves will be sized between 1,900 and 2,100 square feet and priced between $240,000 and $270,000.
The Las Vegas area saw substantial residential construction growth in 2013, but the trend has slowed in the first quarter of 2014. The Canyon View project is expected to help rejuvenate growth in the city.
Presidio Residential Capital, headquartered in San Diego, is a real estate investment firm specializing in residential housing. The company is currently focusing on housing development and construction in the western United States.
Summit Homes has more than 30 years experience, with more than 3,000 homes built in the state of Washington and throughout the Northwest. As Summit Homes of Nevada, the company has established a presence in Las Vegas and the surrounding areas.
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