Homebuilder buys Summerlin land for $44.7M
A Los Angeles-based homebuilder plans to build 200 single-family residences on 32 acres in Summerlin West’s Grand Park District.
KB Home purchased the land for $44.7 million, Clark County records show.
The homebuilder said the community will be called Alton, and construction will start in the winter of 2024. It did not specify a completion date.
The project will have one- and two-story homes ranging from 1,817 to 3,063 square feet and three to five bedrooms west of the 215 Beltway and to the northwest of the Red Rock Resort.
KB Home — which bought the land from master-plan developer Howard Hughes Holdings — currently has one active community in Summerlin for sale called Nighthawk. A second community, Quail Cove, will start selling in January.
Aaron Hirschi, president of KB Home’s Las Vegas division, said the company has been building in Summerlin for three decades.
“We understand that our homebuyers enjoy this thriving Las Vegas submarket, which provides a lifestyle that blends world-class amenities, award-winning schools and premier shopping, dining and entertainment with affordable pricing,” he said.
Summerlin, one of the best-selling master-planned communities in the country, started in 1952 when tycoon Howard Hughes bought a 25,000-acre parcel on the western rim of the Las Vegas Valley, for reportedly $3 an acre, as a potential relocation spot for his business holdings.
Howard Hughes Holdings, which owns the land and sells it to builders and developers, said it is entering the final two decades of construction for the community.
The last major enclave of Summerlin to be developed is Summerlin West, located west of the Beltway and north of West Charleston Boulevard on the edge of Red Rock Canyon. Development is well underway, with two of Summerlin West’s four villages (each containing multiple neighborhoods), The Vistas and The Paseos, already built and sold out. The two others, Stonebridge and Reverence, are close to being sold out, the developer said.
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.
