The Sunstone housing development in NW Las Vegas has a green light. Based upon historical land sales in Las Vegas, the purchase of these 630 acres for a new housing development is one of the largest single housing land purchases in years.
The builders of Sunstone purchased the land just east of the new Kyle Canyon interchange on Hwy 95 will be designed to have approximately 3,000 homes and 3o acres of parks, trails and open space according to an article I read at The Review Journal.
Lennar will be building around 1,200 new homes while Woodside will build and 650 new homes with Shea building 1,000 homes in a 55+ community within Sunstone.
New home sales has been pulling in record pricing. In the first 6 months of this year, Skye Canyon reported 260 homes sold. While we represent buyers of new homes, the jury is out on whether new home construction can be sustained along with maintain the home’s value if the market slows down. The NW part of town and the area south of St Rose along the 15 are about the only areas left for expansion. There are developers that want to encroach west towards Red Rock Canyon, but this would not come easy as there is a lot of push back.
Time will tell.
Image credit: Lennar Corp.
Homes available for sale in neighboring Skye Canyon