In a larger-than-usual sale, a Denver homebuilder bought more than 40 acres of land in Summerlin this month.
Richmond American Homes acquired a 42.5-acre parcel for around $23.8 million from Summerlin developer Howard Hughes Corp., property records show. The sale closed March 1.
Richmond American plans to build about 100 single-family homes there, Summerlin President Kevin Orrock said on Friday.
He confirmed that it was Howard Hughes’ first land sale this year to a housing developer in Summerlin, Las Vegas’ largest master-planned community.
Richmond American’s parcel, near Alta Drive and Charleston Boulevard, is in the new, 500-acre Stonebridge village. Stonebridge’s parcels are larger than what Howard Hughes has typically sold in other villages, Orrock said.
Richmond American did not immediately respond to requests for comment Friday.
Summerlin spans 22,500 acres along the valley’s western rim and has more than 100,000 residents.
Contact Eli Segall at email@example.com or 702-383-0342. Follow @eli_segall on Twitter.