A luxury homebuilder has started construction on a waterfront project in Lake Las Vegas, betting it will lure buyers with views and other perks to upscale houses on small plots.
Blue Heron held a ceremonial groundbreaking Tuesday for Shoreline, an 83-lot housing tract it’s developing in the Henderson community situated around a 320-acre man-made lake.
Homes will span from 2,740 to 3,668 square feet, with prices starting at just under $940,000.
Shoreline’s first phase, comprising seven waterfront homes, is sold out and under construction, said Chris Beucler, president of the builder’s community home division, BH Nexus.
He expects to start building the second phase, comprising 13 houses, at the end of June.
The upscale project, next to Lake Las Vegas’ retail area, comes as Southern Nevada’s overall housing market notches record-high sales prices practically every month, though sales totals have dropped lately as buyers face higher mortgage rates that have pushed up borrowing costs.
Beucler said Shoreline is off to a “great start” that has exceeded the company’s expectations. He noted that some homes have sold for more than $2 million and that its second phase has only two houses left. No sales have closed.
He also indicated that a higher share of buyers are using cash, now that interest rates have climbed.
“The money’s not as cheap for them anymore,” Beucler said.
Shoreline’s sleek houses will be walking distance from amenities such as restaurants and retail shops. The home sites are also small.
As seen on Clark County’s interactive property records map, lots in Shoreline measure less than a tenth of an acre, with several at 0.07 acre each.
According to Beucler, the lots span 35 feet wide; the homes, all detached single-family dwellings, will run 25 feet wide.
Blue Heron founder Tyler Jones said the project will attract “lock-and-leave” buyers who don’t want to take care of big yards, though he said the houses will feature large, open spaces inside.
Jones also said the buyers are more interested in “connectivity” and the social aspects, such as seeing neighbors near the lake, while buyers in other Las Vegas-area luxury communities with bigger lots want more privacy.
“I don’t think it’s going to be a hard sell at all,” he said of Shoreline.
The 3,600-acre Lake Las Vegas community, off Lake Mead Parkway east of Boulder Highway, boasts mansions, hotels, golfing, retail and a body of water where people can go paddleboarding, kayaking and do other activities.
Contact Eli Segall at email@example.com or 702-383-0342. Follow @eli_segall on Twitter.