LAS VEGAS—The Howard Hughes Corporation has revealed plans for the first multi-family residential development in the 400-acre Downtown Summerlin in the heart of the company's Summerlin master-planned community.

A joint venture of The Howard Hughes Corporation and The Calida Group, the 124-unit, gated luxury apartment complex is expected to begin construction this fall with a projected spring 2015 opening. Situated on nearly 4.5 acres adjacent to the premier, 1.6 million-square-foot, upscale retail destination opening later this year in Downtown Summerlin, residents will enjoy the ultimate in urban living given the enviable amenities and dynamic shopping, dining and entertainment options just steps away.

The luxury development will boast a contemporary architectural design in keeping with overall plans for Downtown Summerlin. The three-story, 170,000-square-foot multi-family project will feature spacious one-, two- and three-bedroom homes ranging from approximately 1,000 to 2,040 square feet. Exclusive amenities for residents include: a state-of-the-art fitness center; a spa with tanning services, on-call masseuse and aesthetician; and a resort-style pool with an outdoor BBQ area and pool-side cabanas. Third-floor homes include 20-foot ceilings along with a private walk-up to a mezzanine level and a fourth-story rooftop deck. Some residences also include attached garages.

“This multi-family residential community will be virtually unmatched across the Las Vegas Valley,” said Kevin Orrock, president of Summerlin for The Howard Hughes Corporation. “We are pleased to collaborate with The Calida Group, a national developer whose well-established reputation for world-class, quality construction and design makes them an ideal fit.”

“The Calida Group is committed to creating an entire lifestyle, not just a place to live,” said Eric Cohen, managing director of The Calida Group. “We are thrilled to partner with one of the country's premier master planned community developers and agree that our approach is ideally suited for Summerlin. Our communities boast impeccable service, modern interior designs and highly desirable locations, and this is no exception.”

Developed by The Howard Hughes Corporation, Summerlin began to take shape in 1990 and has ranked in the country's top 10 best-selling master planned communities for nearly two decades. Located along the western rim of the Las Vegas valley, Summerlin encompasses 22,500 acres with approximately 6,000 acres still remaining to accommodate future growth within the master plan. The community is currently home to more than 100,000 residents who enjoy an unparalleled list of amenities. These include more than 150 neighborhood and village parks, more than 150 completed miles of trails, 22 public and private schools, 14 houses of worship, nine golf courses, shopping centers, medical and cultural facilities, business parks and dozens of actively selling floor plans. Homes are available in a variety of styles – from single-family homes to townhomes and condominiums – priced from the $200,000s to more than $1 million. Custom homesites in The Ridges are priced from the $300,000s. Luxury apartment homes offer monthly rents starting from the $800s.