Senior Communities Making Comeback in Las Vegas
No matter what you call them, whether senior citizens, active adults, age privileged, age restricted, or senior housing developments, these communities are making a comeback in Vegas. These are not the standard senior communities of the past, however, that were anchored by golf courses. These are instead much like country clubs with bocce ball courts, pools, tennis courts, and other active options for their residents.
Projects on the Horizon
There are several projects that are either being planned or are in the process of being built in the Vegas area for those who are 55 and over. From the Heritage subdivision in Henderson from the Lennar Corporation to the Regency project in Summerlin from the Toll Brothers to the Latitude development in Summerlin from Newport Pacific Land Company to hundreds of senior homes in Union Village and a health care and residential project in Henderson. All of these are new options that the active 55 and over set can choose from to enjoy some of the finest years of their life.
Las Vegas and areas around the city have long been a top retirement spot. The sunshine, low taxes, entertainment, and communities that had everything people could want are just a few of the things that lured seniors to the area. While the recession didn’t wipe out the amenities that was offered in the area, it did slow down construction and harm the finances of the buyers. It took a while for developers to come back to the area with projects for the 55 and over crowd, but they are back at it now. Two are further along than the others and these are Regency and Heritage.
Regency in Summerlin
Sales efforts recently started for Regency in Summerlin. This project is planned to have 458 homes and buyers bought 8 in the first week. The prices start in the $400,000 range, which is slightly higher than the median price of $312,500 in Clark County. This is the first 55 and over community of single-family homes in Summerlin in 15 years and will include many different amenities, including tennis courts, pickleball, bocce ball courts, social events, and more.
Heritage in Cadence
Located in the southeast valley, Heritage is a 2200 acre community that is located on a former industrial-waste dump that has been cleaned up. It is a planned community that is planned for 900 to 1000 homes with 40 home sold so far. Prices range from $300,000 to $450,000 for these homes that feature a garage big enough to fit an RV, which is a selling point for seniors. Lake Mead is very close, which is a huge selling point for retirees. A recreation center with pickleball courts, a ballroom, café, full-time activities director, and indoor and outdoor swimming pools are planned as well.
As you will notice, both of these do not include golf courses. Golf course communities are on the downside of popularity. They take more land to build and there are already many courses in the area. It makes much more sense financially for developers to build houses. Even though people are still slightly cautious about retirement, some are beginning to see some confidence in their retirement savings are taking the plunge into retirement communities. Las Vegas is gearing up for that.