Welcome!

News Feed Item

Presidio Residential Capital and Summit Homes of Nevada to Build $7.8 Million Five-Acre Community Near Las Vegas Strip

Canyon View Development Will Bring 36 New Single-Family Homes to Desirable, Built-Out Area

LAS VEGAS, NV -- (Marketwired) -- 07/14/14 -- Presidio Residential Capital has partnered with Summit Homes of Nevada to build Canyon View, a $7.8 million five-acre community with 36 single-family homes conveniently located near the Las Vegas Strip, McCarran Airport, Interstate 15 and the Clark County 215 Beltway in unincorporated Clark County.

Twenty homes will be built during the first phase of construction, which has already begun. Sixteen homes will be built during the second phase, which will begin in December of 2014. Nathan White, division manager for Summit Homes, estimates anticipated gross revenue of more than $9.6 million once the community is built out. A grand opening is scheduled for October 2014, and homes will be priced between $240,000 to $270,000.

"While Las Vegas is one of the hardest hit markets during the downturn, we believe it has begun its recovery and will continue on an upward trajectory during the life of Canyon View," said Don Faye, principal of Presidio Residential Capital. "We are confident in the Las Vegas market overall and have an excellent partner in Summit."

Located on Jones Boulevard just north of Windmill Road, the community will offer residents a short commute and easy access to many of Las Vegas' popular attractions. Canyon View will be located within a highly desirable submarket for new home buyers with a community design that incorporates streets that end in cul-de-sacs and several common areas consisting of more than 4,000 square feet of open space. Built by Summit Homes, the 1,900- to 2,100-square-foot homes on 4,000-square-foot lots will have upgraded finishes including granite and cultured marble countertops, paver driveways, raised-panel interior doors, and energy-efficient features including low-E vinyl windows and radiant roof barrier sheeting.

"Canyon View is located in an area that is predominately built out," said White. "Prospective homeowners will be able to buy a new home knowing, with certainty, that the area's amenities are excellent. In addition, many homeowners at Canyon View will own lots within cul-de-sacs, enhancing the neighborhood feel and encouraging neighbors to interact."

Canyon View is Presidio Residential Capital's second of four joint ventures with Summit Homes in Las Vegas. Recently, Presidio and Summit Homes broke ground on a five-acre infill community on West Cheyenne Avenue, just outside the city's Summerlin master-planned community and just east of the Clark Count 215 Beltway.

According to the National Association of Home Builders' formula to determine the local impact of single-family housing in typical metro areas, the community's 36 new single-family homes will generate $7.6 million in local income, $792,000 in taxes and other revenue for local governments and 117 local jobs.

About Presidio
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, Calif., the firm provides capital for for-sale residential focused development opportunities throughout the Western United States. Presidio has infused more than $400 million into the economy to capitalize housing development and construction. The firm's goal is to fund in excess of $600 million in capital for home building projects in the Western United States, and currently has investments in California, Hawaii, Nevada, Texas, Idaho and Washington. The firm is affiliated with a privately-held registered investment advisor specializing in alternative investment strategies who has a long history of investing in the home building sector. Current assets under management total more than $2 billion. Presidio is a member of the Building Industry Association of San Diego. www.presidioresidential.com

About Summit Homes
Locally owned and operated by the White family, Summit homes has been a home-building staple in the Northwest for more than 30 years. Summit Homes has built nearly 3,000 homes in well-planned communities throughout the state of Washington and has expanded into the Las Vegas market as Summit Homes of Nevada. www.summithomesnv.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Dhiraj Sehgal works in Delphix's product and solution organization. His focus has been DevOps, DataOps, private cloud and datacenters customers, technologies and products. He has wealth of experience in cloud focused and virtualized technologies ranging from compute, networking to storage. He has spoken at Cloud Expo for last 3 years now in New York and Santa Clara.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.