Residential developer buys 208 acres in North Las Vegas
21 December 2012
A Southern California residential developer has acquired 208 acres in North Las Vegas.
SunCal bought the property near North Decatur Boulevard and Elkhorn Road this week for $19.8 million, the company said Friday.
The previous owners had graded the property and installed water and power utilities but did not build any homes, SunCal spokesman Joe Aguirre said. The company plans to seek revised entitlements for the property, which is already approved for up to 1,828 residential units, he said.
Like Summerlin’s Howard Hughes Corp., SunCal develops master-planned communities by selling large swaths of land to home builders.
Based in Irvine, Calif., SunCal has done other deals in Las Vegas. From August to November 2009, the company bought 1,665 lots — 1,212 finished and 453 partially developed — across 22 valley project sites for almost $30 million.
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