Arthur “AJ” Lewis of Active Capital Holdings said his group is providing just over $4.7 billion for former NBA player Jackie Robinson’s project.
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Southern Nevada house prices in December were up 25.5 percent from a year earlier, compared to 18.8 percent nationally.
The project, by Reno-based Tolles Development Co., would span more than 140 acres in Jean and could result in a shuttered hotel-casino being demolished.
Wynn CEO Craig Billings said the sales proceeds would “provide us with liquidity for several of our upcoming development projects and the potential to retire other debt.”
A Reno developer has drawn up plans for a 1.9 million-square-foot warehouse and distribution complex along Interstate 15 in Jean.
Fueled by cheap money, Las Vegas is in a prolonged homebuying boom.
Developer Jim Rhodes has sold a stretch of land west of Las Vegas that is said to have been eyed for a cemetery or other uses.
Activity has been underway for some time at the long-unfinished hotel-casino project, which now has an “fb” logo near the top of the tower.
Developer CapRock Partners sold a 684,000-square-foot project near the 215 Beltway-Interstate 15 interchange.