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Luxury homes planned for Summerlin community

Reported by: John Treanor
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Updated: 6/26/2014 3:09 am

LAS VEGAS (KSNV & MyNews3) -- The new luxury neighborhood is coming to Las Vegas, and annual membership rates could be as high as $150,000.

The yet-to-be-named development is slated for a grand opening in 2016 in Summerlin. The cost for the homes will range from $2 million to as high as $9 million.

A 555 acre plot of desert land will host 300 luxury homes and an 18-hole golf course.

The development will be an all-inclusive resort community, which means it provides everything down to stocking the refrigerator.

This neighborhood is not for everyone; it's designed for the one percent of the one percent.

"There's nothing like it in the valley. This is clearly a resort community," said Kevin Orrock, President, Summerlin, Howard Hughes Corporation.

The neighborhood is a partnership with the Howard Hughes Corporation and Discovery Land Company, which has several of these resort style neighborhoods across the country.

Las Vegas real estate is rocky, to put it lightly. It has been up and down for the better part of a decade, but that hasn't stopped plans for this new, expensive development.

The final billing on the marquee of the Riviera Hotel & Casino in Las Vegas in the last hour before its closing, on Monday, May 4, 2015. (Las Vegas News Bureau/Mark Damon, Las Vegas News Bureau/Las Vegas Convention and Visitors Authority)

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