Two homebuilders have purchased land tracts in Summerlin for more than $45 million combined after drawing up plans for new subdivisions.
Howard Hughes Holdings, developer of Las Vegas’ biggest master-planned community, sold a 19.2-acre parcel near the 215 Beltway-Summerlin Parkway interchange for $30 million to Tri Pointe Homes this month, property records show.
This followed Hughes Holdings’ sale of an adjacent 10-acre spread for $15.4 million to Richmond American Homes in January.
Las Vegas city records show that Tri Pointe plans to build a 131-lot subdivision on its plot of land, while Richmond American plans to build a 76-lot subdivision.
Summerlin, which spans 22,500 acres along the valley’s western rim, boasts 130,000 residents and some of the highest home prices in Southern Nevada.
Texas-based Hughes Holdings sells land in Summerlin to homebuilders and has developed hundreds of millions of dollars’ worth of projects in the community’s commercial core off Sahara Avenue and the 215 Beltway.
Tri Pointe and Richmond American’s new project sites are near a new luxury housing enclave called Astra, which Hughes Holdings is developing at the base of the mountains west of Las Vegas.
The company sold six homesites, spanning about 3.8 acres total, for nearly $23 million combined in Astra in December, records show.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.
