Skye Canyon continues to grow drawing in buyers, businesses

LAS VEGAS (KLAS) — The Las Vegas valley continues to grow, particularly in Skye Canyon, where new developments and businesses are emerging, making the area a highly sought-after place to live.

“Skye Canyon is actually a beautiful area with many new developments coming,” Mervat Berry, CCIM and an advisor at MDL Group, a commercial real estate firm, said.

In 2015, Skye Canyon saw the construction of thousands of homes, with residents beginning to move in by 2016. By 2018, the community welcomed Smith’s Marketplace, a massive grocery concept with home goods, clothes, food and even a bar, surrounded by a few small businesses in the shopping center.

“There’s slated to be another elementary school, another middle school, another high school, (and) some additional parks,” Berry said. “Skye Canyon’s primary objective is to cater to the active lifestyle and outdoor community, and to provide families with resources to be active and have that active lifestyle.”

Berry highlighted that Skye Canyon offers an array of biking lanes, hiking trails, and running paths, along with a 10-acre park. The Skye Canyon Park Project features amphitheaters and a variety of fitness courts catering to every sport.

Berry noted that renters and buyers are particularly drawn to this area due to its proximity to Mt. Charleston for hiking and Lee Canyon for skiing and recreation.

“The housing market in Skye Canyon is extremely healthy. It’s a very high-demand area. As a matter of fact, the growth is year-over-year 4.3% growth in real estate value in that area. That’s a very nice increase,” Berry said.

In the past year, more businesses have opened in the Skye Canyon Marketplace shopping mall, enhancing the one-stop shopping convenience for local residents.

The Calida Group’s multi-family project, Elysian at Skye Canyon, is set to open next month along Oso Blanca Road. This complex will offer 314 units and a state-of-the-art community and fitness center. Additionally, several home developments are underway just up the street on Kyle Canyon Road

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