Hollywood 2.0: How Sony’s $1.8 Billion Film Studio in Summerlin Will Impact Las Vegas Real Estate

Hollywood 2.0: How Sony’s $1.8 Billion Film Studio in Summerlin Will Impact Las Vegas Real Estate

Las Vegas is quickly emerging as a major player in the entertainment industry, and Hollywood 2.0 is set to solidify its place on the map. Located in Summerlin South at the intersection of Town Center Drive and West Flamingo, this $1.8 billion project—backed by Howard Hughes Corp. and spearheaded by Sony Pictures—will transform Las Vegas into a premier destination for film production.

This 31-acre state-of-the-art facility will feature 10 new buildings and 500,000 square feet of sound stages, office spaces, flex spaces, and storage for props and equipment. At the heart of this vision is actor and entrepreneur Mark Wahlberg, who relocated to Las Vegas from Los Angeles in 2022.

Economic Impact: 16,000 New Jobs & $1.2 Billion Boost

Hollywood 2.0 is expected to create 16,000 new jobs in the film industry and inject $1.2 billion annually into the local economy. This marks a significant step in Las Vegas’ economic diversification, moving beyond its reliance on tourism and gaming and opening up new career opportunities with competitive salaries.

What Does This Mean for Summerlin Real Estate & Home Values?

With a surge in high-paying film industry jobs, demand for housing—especially in Summerlin South and Summerlin West—is expected to rise. This could lead to:

✅ Increased property values due to heightened demand
✅ Rising rental rates as industry professionals relocate to Las Vegas
✅ Stronger investment opportunities for buyers and real estate investors

Nevada’s Tax-Friendly Advantage

Combined with Nevada's tax friendly advantage, this is really a positve indicator for home appreciation in Las Vegas and especially the desirable masterplanned community of Summerlin.  Not only is the economy diversifying in Las Vegas but One of the biggest reasons people relocate to Las Vegas is Nevada’s tax-friendly environment. As a Nevada resident, you benefit from:

✅ No state income tax
✅ No estate or inheritance tax
✅ No corporate income tax
✅ Low property taxes compared to other states

✅ No capital gains tax at the state level

Making Las Vegas your primary residence means keeping more of your hard-earned money while enjoying an exceptional lifestyle.

Las Vegas' population is projected to grow by 2% annually, reaching 2.7 million residents by 2034. As more industries establish roots in the city, the need for housing will continue to escalate, making Summerlin a prime destination for homebuyers and investors alike.

Staying ahead of real estate trends and working with Native Las Vegans—like The Stark Team—can help you navigate the evolving Las Vegas market strategically.

Final Thoughts

The arrival of Hollywood 2.0 in Las Vegas is more than just a film industry milestone—it’s a game changer for the local economy and real estate market. With rising home values, increasing demand for rentals, and new luxury developments in the works, now is the time to explore real estate opportunities in Summerlin.

📩  Whether you're looking to buy, sell, or invest in Summerlin, The Stark Team has the expertise to help you navigate this evolving market. Let’s work together to make your next move a smart one—reach out today!  You can always head on over to our YouTube Channel to get started on your real estate journey.  We look forward to hearing from you.

📞 702-236-8364    📧   thestarkteam@gmail.com