Homebuilders Acquire $150 Million Of Land in Summerlin for New Housing Developments

A trio of homebuilders recently purchased nearly 87 acres in Summerlin, paying a combined total of almost $150 million, with plans to develop hundreds of new homes on the western edge of Las Vegas. According to property records, Howard Hughes Holdings sold 37 acres to Pulte Homes for $55.4 million, approximately 29.5 acres to Tri Pointe Homes for $54.35 million, and 20.6 acres to KB Home for $38 million. The sites are located off Far Hills Avenue, about two miles west of the 215 Beltway, in an area already seeing significant new housing activity.



Plans filed with the City of Las Vegas outline new subdivisions: Pulte Homes intends to build 126 lots, KB Home plans 104 lots, and Tri Pointe Homes will add 99 lots. Summerlin, a 22,500-acre master-planned community along the western rim of the Las Vegas Valley, is home to around 130,000 residents and features extensive parks, trails, and community facilities. It’s known for some of the region’s highest home prices and has consistently ranked among the nation’s top-selling master-planned communities.



Howard Hughes Holdings, the developer named after the famed aviator and business tycoon, has overseen Summerlin’s growth since its inception in the early 1990s, selling land to builders and developing major commercial projects. According to real estate consulting firm RCLCO, Summerlin builders sold 515 homes in the first half of the year, ranking it seventh among master-planned communities nationwide.



 





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