The city’s most anticipated luxury resort community may have you reconsidering the bright lights of The Strip for the tranquility of the waterfront. Sitting on a dock with your toes dangling in the cool water. Taking in an outdoor concert from the private white sand beach. Watching the sunset from an electric boat. This is the stuff that life at Lake Las Vegas is made of.
We checked in with Patrick Parker, President of Raintree Investment Corporation, the commercial investors who own Lake Las Vegas, to learn more about the most sought-after neighborhood in Las Vegas:
The Las Vegas Lifestyle
One of the things that Lake Las Vegas does best is that there is plenty to do. The whole idea is that is an active place to live for someone who wants to make this their primary home or a second home. We’ve had over 40,000 guests since the springtime to visit and enjoy the watersports, like paddle boarding, kayaking and electric boats.
We’re really activating the golf course. We’re hosting the first annual Lake Las Vegas Classic, which is a food and wine festival and golf tournament coming up October 27-28. Twelve Las Vegas top chefs will come and prepare food. In December, George Strait is coming for the Tough Enough to Wear Pink Tournament as part of the National Finals Rodeo.
The Renewed InterestFrom 2013-2014, new home construction grew very quiet. Then we all started seeing a bit of growth. Now we’re selling vacant lots again—people are starting from scratch to build their homes, and that’s a trend the whole city has had. People, specifically from California and some of the colder areas in the East, are seeing us as a great alternative for a second home or a relocation and that’s what will sustain Las Vegas is that influx of people. Only a couple million people who live in Las Vegas, but it also grows by 60,000-80,000 a year, and if a percentage of people want a custom home that’s all we need.
Well over a billion dollars has been spent over the last 20 years to create this community. We were fortunate enough to buy it after the economy changed, and we’ve been doing everything we can to refresh the space.
The general excitement around the development is new landscaping, new amenities and a lot of money coming in. Between the Sports Club, the Village, the Water Sports Club, and the two golf courses, we’ve probably spent $20 million on new amenities. The Westin Lake Las Vegas Resort & Spa is spending about $30 million to redo its 500-room hotel, and the Hilton Lake Las Vegas Resort & Spa already spent about $10 million on its 300 units.
The New Class of Custom Homes
We have a lot of great competitors, but the unique asset we have is a private lake, and within Lake Las Vegas, no one has the modern architecture like we do. Lake Las Vegas had a lot of Tuscan and Mediterranean-style architecture. The smaller windows and heavy columns characteristic of that style have been opened up. Our desert contemporary modern architecture has really nice sweeping lines, colors that embrace the natural landscape, and big windows let you live there.
Also, Reflection Bay has a real intimate setting; it’s a community unto itself. There’s going to be a private one-acre park, beach and an entrance gate just for people within the community.
For more information on homes for sale in Las Vegas and Lake Las Vegas, contact Shapiro & Sher Group today.