SunCal buys Park Highlands land parcel for $19.8 million
SunCal closed escrow this week on two parcels totaling 208 acres in the partially developed Park Highlands master-planned community in North Las Vegas for $19.8 million.
The sellers were a prominent local Las Vegas homebuilder and one of the development's original partners.
"We're very excited about the demand for finished lots in the Las Vegas real estate market," said Brad Shuckhart, vice president of land acquisitions for Irvine, Calif.-based SunCal.
The acquired parcels are part of the 2,675 acres purchased by Olympia Group, developer of the Southern Highlands community, for $639 million at a BLM auction in November 2005.
Utilities are in place and virtually all grading of the home lots and roads has been completed. The next step in development is paving the roads.
Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.
