Master-Planned Communities Line Up at the Starting Gate
By Alex Girda, Associate Editor
As Downtown Summerlin prepares to test the market this fall, a number master-planned communities in the Las Vegas metropolitan area are moving forward after weathering hard times.
After the economic downturn put its development plans on hold, The LandWell Co. sold a 200-acre site to Lennar Corp. and then lined up an 18-acre residential project with Woodside Homes. According to VegasINC.com, the developer now has around 255 acres of its land under development following a series of recent deals.
The site of LandWell’s Cadence project is the 2,200-acre former industrial dump located between Boulder Highway and Lake Mead Parkway. Development plans call for 13,250 housing units, 1.1 million square feet of retail, as well as 1,500 hotel rooms. With Cadence seeing movement and grading expected to start soon, a new hub of activity may be on the horizon in Henderson.
VegasINC.com also noted that the 1,700-acre Skye Canyon development is scheduled to break ground this month. The project calls for 9,000 new homes. In North Las Vegas, developers are eyeing a 2015 start for Park Highlands, 2,700-acre master-planned community that will ultimately encompass some 15,000 homes at the site. And in Henderson, the 7,500-home Inspirada project is gearing up for construction.
Image courtesy of colliersparrish.comTags: Cadence, Commercial, Developers, Development, economy, Finance/Investment, Financiers, Henderson, Investors, Las Vegas Lead Story, Local, master, Municipal, National, North Las Vegas, Owners, Park Highlands, Policy, Professional, Regional, Residential, single-family, Skye Canyon